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Some of the top American companies have joined hands to form the 100,000 Opportunities Initiative with a commitment to create economic opportunities for the youth of America. It aims to be the country's largest employer-led coalition with a goal to provide 100,000 young people with employment opportunities by the end of 2018.

The coalition will promote the employment for youth through internships, training programs as well as part-time/full-time opportunities. Some of the top US based companies include CVS Health, Cintas, Hilton, Taco Bell, Starbucks, Walmart, Walgreens, JPMorgan Chase, Porch.com, Potbelly Sandwich, HMS Host, JCPenny, Lyft, Macy's, Microsoft and Target.

The first opportunity Fair and Forum will be hosted in Chicago on August 13. The companies will be conducting a training program and will be offering around 200 jobs on-the-spot. Over the next 18 months, the 100k Opportunities Initiative aims to recruit around a thousand youth in the Chicago area.

The Chicago Cook workforce partnership will be working closely with LeadersUp to provide as an intermediary for the forum in Chicago next month. One of the major part in the training programs for the youth would be job-readiness, college preparation, on the spot mentorship and feedback, understanding volunteering and internship opportunities.

Chicago Mayor Rahm Emanuel lauded the 100,000 Opportunities Initiative saying it is creating a meaningful pathway to opportunity for thousands of young people.

"With the right tools and resources, the next generation of Chicagoans can make a measurable impact in our community through civic engagement and strengthen our City's economy", he said.

U.S currently houses around 5.6 million youngsters who are unemployed or are out of school; whereas there is a mid-skill level labor market with 3.5 million job opportunities available. Opportunity Youth Incentive Fund (OYIF) will also be supporting the event by offering technical help, program assistance as part of Aspen Institute's Forum for Community Solutions.

For U.S. Secretary of Labor Thomas E. Perez, he believes that in America, it should not matter where you were born or where you reside. When more young people are getting employed, it benefits the entire communities and the economy as a whole.

"The corporate leaders championing the 100,000 Opportunities Initiative recognize that promoting career opportunities for youth is a win-win, and I hope more employers will follow their lead", Perez said.