LOS ANGELES (CBSLA.com) — Mayor Eric Garcetti expects over 5,000 jobs to become available to Los Angeles youth after announcing a $1.7 million cash infusion into the city's annual summer jobs program.
The Hire L.A. Youth Summer Employment Program received $1 million in tax money, collected in Council District 13, which is the district Garcetti previously represented as councilman before being elected mayor.
Just before his election, Garcetti transferred money from the district's discretionary funding that was left over following the dissolve of the city's redevelopment agency.
The rest of the money was donated by banks JPMorgan Chase and Goldman Sachs.
The summer jobs pay $8 an hour, last 120 hours over six weeks, and are available to residents of the city who are between the ages of 14 and 21. Eligible youth must also be receiving public assistance, be a foster child or homeless, or having families considered to be low-income.
Speaking at the Dunbar Hotel in South Los Angeles, Garcetti said that youth who earn job experience will have an edge with future employers.
He also called upon more private groups to donate to the summer jobs program, and thanked the two banks that have already donated.
"It's tremendous to see Wall Street understand the importance of Main Street," Garcetti said. "None of us can do this on our own. Working together, we can prepare our young people for the future while strengthening L.A.'s workforce and community."
(©2013 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)
for more features.