Leaders of the nation's largest companies pledge to hire 100,000

An effort spearheaded by Starbucks CEO Howard Schultz promises to hire 10,000 young adults by the end of 2018.

USA Today reports an estimated 5.5 million Americans ages 16 to 24 aren't employed or in school.

Executives from some of the country's biggest companies plan to hire 100,000 unemployed young Americans.

Sixteen other companies joined Starbucks in the pledge including Alaska Airlines, Cintas, CVS Health, Hilton Worldwide, HMSHost, JCPenney, JPMorgan Chase, Lyft, Macy's, Microsoft, Porch.com, Potbelly Sandwich Shop, Taco Bell, Target, Walgreens and Walmart.

Schultz expects the coalition to host many job fairs across the USA.

The 100,000 Opportunities Initiative launches Monday.

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