Some of the country's top executives, led by Wells Fargo & Co. CEO John Stumpf, pledged this week to ramp up their summer hiring - and called on other companies to do the same.
The executives are part of a new U.S. Department of Labor program, Summer Jobs USA, an effort to create and fill 100,000 jobs for low-income workers ages 16 to 24. The idea is to provide a foot in the door - through internships or part-time summer work - that could turn into a long-term career, Secretary of Labor Hilda Solis said during a news conference Wednesday.
The unemployment rate for Americans ages 16 to 24 was 17.6 percent in March, twice the national average, 8.8 percent. During the recession, some companies in Charlotte and beyond slashed funding for their summer internship programs and rescinded summer job offers as they scrambled to cut costs.
Employers plan to hire 7 percent more interns this year than last year, according to a recent report from the National Association of Colleges and Employers. College students are expected to earn $16.68 per hour at their internships this summer, down slightly from $17 last year, the study found.
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