The news is bleak: unemployment numbers for young adults between 16 and 29 is more than twice the national rate, the amount of college debt continues to climb as more and more college graduates can’t find work and an alarming number of those college grads are discovering that moving out of Mom an Dad’s house is an impossibility.
Indeed, the unemployment rates for this age group haven’t been this high since World War II. And did we mention this particular group is racking up credit card debt with no way to repay it? Enter American Express and its genius one-stop shop for curing all that ails these young people – provided the plan doesn’t backfire, of course.
Apply for a Job, Apply for a Credit Card
American Express has teamed with two very different services that serve a shared purpose: putting younger Americans to work. Both partners, LearnVest and CrowdTap, are offering the services at no cost and you don’t have to be an American Express card holder to participate, either. The goal is first, help job seekers in their twenties secure employment and the second goal is to teach strong money management skills. Here’s a look at both –
Described as a social platform that “trades charity donations for consumer opinions”. In return, American Express will donate money to the charities of the participants’ choice. While this isn’t necessarily a straight line to the hiring department, it does allow young Americans to network as they work their way through an uncertain economy.
Plus, it also allows them to give something to others who are even less fortunate than they. Further, it allows those who participate the opportunity to define and meet their goals for their careers. Becoming a participant is easy. You can visit the CrowdTap site and use your Facebook credentials if you choose, which is nifty considering potential employers have an instant way of connecting with job seekers.
LearnVest, in its partnership with AMEX, showcases the challenges that are unique to today’s college aged adults. Because of the unique dynamics outlined above, any kind of insight is always a good thing. Participants enroll in one or both financial bootcamps where they learn everything from the art of the interview to negotiating one’s salary. It also will feature well known names in the financial sector who will oversee various workshops and seminars. Other topics covered will be effective money management, how to make better money decisions, how to handle credit card debt and even group chats where participants can get together and share their own job search stories.
These bootcamps, one named “Take Control Bootcamp” and the other “Build Your Career Bootcamp” will run in a 10 day format and will continue as long as there’s an interest in them. Again, enrollment is free and one doesn’t need to be an American Express cardholder.
Apply When You’re Ready
Of course, participants will be able to apply for any of the American Express products when and if they’re ready to move forward. With the resources available, this latest generation of college graduates just might go from the Lost Generation to the Inspired Generation.
As you can see, these seminars are targeted to the one specific age group that seems to be catching the blunt end of these tough financial times. From a weak job market to the inability to qualify for a mortgage to college loan debt, many are feeling more than overwhelmed and can’t see the proverbial light at the end of the tunnel. One thing is for sure: the efforts of American Express and its partners will resonate with this age group and the card company just might have defined a new avenue for all credit card companies to pursue. Ultimately, it’s a win-win situation, which as we know, simply doesn’t happen often enough these days.
For more information on any of these seminar and other opportunities, you’re encouraged to visit the American Express website. And don’t forget to check out the many AMEX card reviews and applications found here.
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