Jamie Dimon planning to tackle income equality at JP Morgan & Co.

Chief Executive of JP Morgan & Co. Jamie Dimon said on Tuesday that he plans to raise the wages of the investment bank's employees, in order to address wage stagnation and income inequality.

Dimon also referred to the wage gap between young workers in the United States as a "national tragedy".

Writing in an editorial for the New York Times, Dimon said that the lack of education, training and skills is crippling the chances of many to reach the highest jobs.

Dimon said that the lack of education, training and skills is crippling the chances of many to reach the highest jobs

“It is true that too many people are not getting a fair opportunity to get ahead,” he wrote. “We must find ways to help them move up the economic ladder, and everyone — business, government and nonprofits — needs to play a role.”

JP Morgan plans to raise the minimum salary for its workers from $12 per hour to $16.50 per hour in the next three years.

As well as that, the bank has promised to increase benefits for those in the lower end of the company's payroll, improving medical plans and paid family leave and holidays.

Dimon said the bank will invest more than $200mn in 2016 on training for entry-level employees in its retail bank. Regarding the problem of approximately five million young people who are currently not working nor in school, or in low-wage jobs without the possibility of enhancing their skills, it will invest $325 million in education aligned to growing sectors.

“America has been dealt an extraordinary hand, and I am optimistic about our future,” Dimon wrote.

“America has been dealt an extraordinary hand, and I am optimistic about our future" Jamie Dimon

The chief executive acknowledged the various challenges faced by political and industry leaders in various sectors, but with strong leadership these can be negotiated.

"They can be overcome by government, business and the nonprofit sectors working together to build on models of success that advance economic opportunity and create more widely shared prosperity.”