Starbucks (NYSE: SBUX) announced, along with other American companies such as JP Morgan Chase (NYSE: JPM), Macy's (NYSE: M) and Target (NYSE: TGT), a new coalition with one specific goal: to hire young people. Under the name "100,000 Opportunities Initiative," the companies have pledged to hire younger employees over the next three years in an effort to lower the unemployment rate for the demographic. Currently, more than 5 million 16 to 24-year-olds that have finished school are unemployed, Time reported. For more business and financial news, click here.