• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Finance

How to fix youth unemployment? Pay your interns

By
Andrew Kaplan
Andrew Kaplan
and
Maddie Gootman
Maddie Gootman
Down Arrow Button Icon
By
Andrew Kaplan
Andrew Kaplan
and
Maddie Gootman
Maddie Gootman
Down Arrow Button Icon
June 11, 2014, 3:03 PM ET
109861540
Hire me office deskPeter Dazeley—Getty Images
Add Fortune on Google for similar content.

Around this time of year, a number of our friends are celebrating their graduations from both high school and college. Yet for far too many, the transition from student life to the working world is filled with uncertainty. High unemployment and underemployment mean less opportunity for more members of our generation. And as rising income inequality and a recovering economy loom large, the availability of good jobs are crucial for young Americans to achieve economic security.

So why are more young people unemployed or underemployed? Though a slow recovery and a natural discrepancy between youth and overall employment are partially to blame, our education system is responsible as well. Student loan debt and tuition costs continue to rise, saddling young people with a heavy burden in a dismal job market. Meanwhile, many students take out loans and don’t complete their degree.

While it is clear that we need reforms to ease student debt, lower tuition costs, as well as improve degree completion rates, it is equally evident that young people need more options to help transition from school to the working world. A four-year college is a terrific option for many students, but it’s not the only way – vocational schools and two-year colleges can equip many students with the right skills for today’s job market, and it’s likely to cost a lot less.

There is no political panacea for solving the nation’s education and employment woes. Indeed, we must pursue a menu of policy options that not only addresses tuition costs, student loan payment plan reform, and degree completion, but also helps get more students employed in good paying jobs.

One option is to expand vocational programs in high schools so that schools graduate students who are both college and career ready. Federal funding for vocational training has decreased from $12 million in 2002 to just over $7 million in 2011, according to the Department of Education. That is why we need state and local governments to help expand vocational programs that serve as a career bedrock for young Americans. This is not to discourage four-year degrees – indeed, college remains vitally important to economic mobility, but we must also ensure there’s a range of options.

Furthermore, Congress should streamline overlapping federal workforce development programs. Currently, there are 47 — nearly all of which, 44, are overlapping, according to a report by the Government Accountability Office. As government commits to expanding vocational programs, it must also maximize the efficiency of existing programs because overlap leads to wasted resources and bureaucratic confusion.

Finally, colleges, universities and the federal government must work together to reduce the financial burden of unpaid internships and ultimately seek to eliminate them altogether. These, too, limit opportunity for students, particularly low- and middle-income students, because for many, unpaid internships are unattainable. Too often this leads to unfortunate self-selection; indeed, many of our classmates and our friends refused unpaid internships in Washington because they couldn’t afford to spend a summer in the nation’s capital without financial support. This only perpetuates a cycle of privilege and wealth.

What’s more, paid interns are more likely to find jobs later. According to the National Association of Colleges and Employers (NACE), 63.1% of paid interns in 2013 landed a job compared to 37% of unpaid interns. Unpaid interns were only 2% more likely than non-interns to get job offers. Part of the transition from unpaid internships to paid ones involves imbuing those positions with more value for both the employer and the intern. Through more affordable and more valuable internships, more young people will be better trained for jobs.

Though we come from different political backgrounds, we must together engage our communities on an intergenerational level and create bipartisan political space for our representatives to act, so that the problems of today do not become the problems of tomorrow.

The millennial generation and America’s young will bear the brunt of inaction, even though currently millennials have the least say at the policymaking table.  It’s time for that to change — Congress must act now on these crucial issues.

Andrew Kaplan, a rising senior at Brown University and New York City native, is co-founder and Chief Action Officer of Common Sense Action, a bipartisan millennial group focused on advancing generational fairness, investing in millennial economic mobility and repairing politics. CSA has 24 chapters across 15 U.S. states. Maddie Gootman, a rising senior at Vanderbilt University and South Carolina native, is the president of the Vanderbilt University chapter of CSA.

About the Authors
By Andrew Kaplan
See full bioRight Arrow Button Icon
By Maddie Gootman
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

t
Real EstateHousing
Congress just passed the most significant housing bill in decades, so why won’t Trump sign it?
By Alex Veiga and The Associated PressJune 25, 2026
38 minutes ago
The bond market knows something about the $39 trillion national debt that Washington doesn’t
EconomyDebt
The bond market knows something about the $39 trillion national debt that Washington doesn’t
By Eva RoytburgJune 25, 2026
1 hour ago
President Donald Trump speaking at a rally in Pennsylvania on June 23, 2026.
Economyoil and gas
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
By Tristan BoveJune 25, 2026
2 hours ago
A man pumps his car with gas.
EconomyInflation
U.S. companies swallowed the oil shock. They’re not sure they can do it again
By Sasha RogelbergJune 25, 2026
3 hours ago
Private equity gets cut of two of Taylor Swift’s biggest pop hits through Max Martin’s catalog sale
Arts & Entertainmentprivate equity
Private equity gets cut of two of Taylor Swift’s biggest pop hits through Max Martin’s catalog sale
By Mia OsmonbekovJune 25, 2026
5 hours ago
stock
InvestingMarkets
How one chip stock reversed the global tech selloff, exposed AI’s ‘memory tax’ and made the case for an entire valuation regime change
By Nick LichtenbergJune 25, 2026
6 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
16 hours ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
15 hours ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
1 day ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
1 day ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.