Magazine article The Crisis

American Money: Why Summer Jobs Matter

Magazine article The Crisis

American Money: Why Summer Jobs Matter

Article excerpt

Action Alerts

IT'S THE END OF THE SCHOOL YEAR. Many youth and young adults (and probably most parents) are pondering the question, "What will I do (with my child) this summer?" Popular options include vacationing and spending time with friends. But youth and young adults should also use the summer to begin securing their financial future.

Whether it's a summer job, internship and/or volunteering, encouraging youth to commit to a project that develops and strengthens their workplace skills and competencies is more important than ever. The immediate gains - money and a sense of responsibility - are important; but even more crucial are the long-term economic benefits of establishing a work pattern between the ages of 16 - 24.

Since the early 2000s, the youth unemployment rate for young adults has steadily climbed, particularly in African American and Latino communities. The consequences are long-lasting, as youth who experience unemployment at an early age have years of lower earnings and an increased likelihood of unemployment ahead of them.

With African American and Latino communities already experiencing disproportionately high rates of unemployment, it's important to seize opportunities that position our youth to compete in a 21st century global workforce.

Additionally, as youth begin to collect a steady paycheck, it's fitting to teach them about solid money management habits and how to make informed financial decisions.

There are several resources available to connect youth with exciting summer opportunities. Below are a few to help you get started:

* SUMMER J0BS+

Last year, the Obama Administration launched Summer Jobs+, a call to action for businesses, non-profits and government to work together to provide pathways to employment for low-income and disconnected youth. …

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