100 Summer Jobs Created For Philadelphia Youth
PHILADELPHIA (CBS) - Philadelphia's Democratic National Convention host committee has announced the creation of 100 summer jobs for youth, through a grant from one of its donors.
With Wall Street under fire from some candidates this election season, JP Morgan Chase took an opportunity to burnish its image.
In addition to $100,000 for the convention, committee chair Ed Rendell announced the firm is giving $150,000 to the Philadelphia Youth Network for its summer jobs program.
"They will be the largest new investor to work ready Philadelphia," he says.
Corporate responsibility head Peter Scher says the company believes addressing income inequality strengthens the political system more than conventions:
"We have to look at what the community needs and how to use this opportunity to really deal with some of the underlying economic challenges that are fraying our democracy."
Scher says studies show a summer job increases lifetime earnings.