Summer Jobs: A Smart Investment in Our Economic Future

At every opportunity, I like to remind people about America’s fundamental strengths. Our country has endured many difficulties over the past few years, but it is important that we not lose sight of the fact that our nation is still better positioned for future success than any other. Our deep-rooted work ethic, entrepreneurial spirit, dynamic and transparent capital markets, outstanding universities, great military, stable rule of law and diverse businesses are all critical for a thriving 21st century economy.

But it will matter little if we fail our young people.

America is blessed to have young people. Look at some of the countries of Europe and in Asia. Those nations face profound long-term challenges because of simple demographics: low birth rates and low immigration rates mean ever fewer workers will be supporting ever more retirees.

In the U.S., however, we still have relatively large families, and immigration continues to bring smart, energetic young people to our country.

But simply having young people is no guarantee of anything. We need to give them the opportunities to build the skills and gain the knowledge they need to succeed. And right now, America has to do a lot more.

It is unacceptable that 50% of the students in some of our inner cities aren’t graduating high school. It is unacceptable that we still haven’t resolved the challenge of our “DREAM Act” kids. These law-abiding, undocumented young people came here when they were children and are now graduating high school, serving in our military or going to college, yet they still may not have a path to receive permanent resident status or citizenship. And it is unacceptable that approximately 40% of those who receive advanced degrees in science, technology, engineering and math at American universities are foreign nationals who have limited ways to stay in this country, even when many of them would choose to do so.

These are big, complex challenges. And I believe that our elected leaders, business leaders and community leaders need to remain focused on making sure our young people are prepared to help America continue to lead in a complex global economy.

One small but crucial piece of the puzzle is summer employment. As anyone who has held a summer job can tell you, few experiences will do more to build character and teach a young person the value of a job and what it takes to get and hold one. Summer jobs are where we learn to show up on time, to work with a team, to get along with a boss and to enjoy having a job. It’s also where we learn the deep satisfaction of a job well done and a paycheck to reward that effort.

But summer jobs are getting harder to come by. American businesses need to step up and support these opportunities. JPMorgan Chase is working with local non-profits, mayors and cities to provide $1 million in funding to support a total of more than 600 summer jobs for young people, including $500,000 in Detroit, $200,000 each in LA and Chicago, and $100,000 in San Francisco.

Businesses of all sizes across the country, as well as local governments, non-profits and others, are doing as much or more. And it is a smart investment.

I would like to see people in companies that may have a need for extra summer employment try to find a way to create a job opportunity for even one young person. If you aren’t sure how to go about recruiting young people for summer jobs, then get in touch with your local city government or local youth-development non-profits. Or consider connecting with a labor organization like SEIU. There are lots of programs out there to help you create summer jobs that benefit your business and your community.

Let’s all try to help young people who need their first chance. It is a great way to contribute to the future of our economy—and our country.

Photo: Bloomberg via Getty Images