Promote Economic Success Through Educational Attainment and Employment Opportunities

Research shows that educational attainment is a strong predictor of well-being and that young adults completing high levels of education are more likely to achieve economic success.[1]  Education helps young people secure a broader range of jobs and protects against unemployment.  Additionally, higher education attainment can lead to higher wages and income.[2]  Financial stability for young people starts with financial education and experiences, but depends on a stable job.  Workforce development and training programs and employment opportunities allow young people to compete in today’s job market by providing them with the necessary skills and access to attain and maintain a job and advance in the workplace. Additionally, youth entrepreneurship programs can help low-income youth interested in becoming entrepreneurs.  Entrepreneurship education teaches important skills in math, planning, budgeting, marketing, and saving.  Also, it provides skills related to creativity, teamwork, perseverance, critical thinking and taking initiative.  Through entrepreneurship education, youth also learn lessons about the value of failure, ethical decisions, networking, and negotiating.[3]  Some policies to promote economic success through educational attainment and employment opportunities include:

• Encourage educational attainment. Washington’s House Bill 2483 establishes a Student Achievement Council to provide planning and oversight for various activities related to public and private higher education, as well as a role in developing more effective policies to guide and monitor the success of K-12 students as they transition to higher education.[4]
• Promote workforce training and employment services. Through the U.S. Department of Labor, WIA Youth Activities focus on “comprehensive youth services including preparing youth for and succeeding in employment, and offering other services intended to develop the potential of youth as citizens and leaders. Eligible youth are those 14-21 years of age, low-income, and facing at least one of six barriers to employment. At least 30 percent of local youth funds must be used to assist youth who are not in school.  Funds may be used to support financial literacy training.”[5]  To provide employment and training services for foster youth, states and local areas can use youth funding under Title I of the Workforce Investment Act
• Support youth entrepreneurship.  Several states have nurtured entrepreneurship in their public education and higher education systems.  Nine states have enacted legislation addressing entrepreneurship education at the K-12 level.  These states include:  California, Florida, Illinois, Iowa, Minnesota, Nebraska, Oregon, Virginia, and West Virginia.[6]  For example, Virginia Code Ann. Sec 22.1-253.13:1 states, “Local school boards are required to implement career and technical education programs incorporated into the K-12 curricula that include knowledge of careers and all types of employment opportunities including, but not limited to, apprenticeships, entrepreneurship and small business ownership.”  Additionally, the H.AMDT.486 amendment “creates youth entrepreneurship programs in the Small Business Administration to assist the development of new businesses by young people who remain in their local area.”[7]