Jun 17, 2024

Creating Pathways to Success for Young Adults

Our latest Deep Dive event explored how apprenticeships and educational income supports can help young New Yorkers achieve economic mobility

New York is the city of opportunity, but for many residents on the cusp of adulthood, this opportunity is hard to access. Sobering data from the newest report in our groundbreaking Poverty Tracker study finds that young adult New Yorkers have the highest rate of poverty among all adults, including seniors, at 25%. Factors like underemployment, housing affordability, and educational costs negatively impact this population’s pursuit for financial stability and economic mobility, and they’re often overlooked or underserved by traditional stabilizing solutions.

To combat this, Robin Hood is convening experts and championing solutions that provide young adult New Yorkers with financial support and professional development that provide real launchpads for opportunity.

Redefining apprenticeships to cultivate careers

In our latest Deep Dive event, hosted by grantee partner Accenture, we brought together changemakers and thought leaders to devise best practices and new approaches to foster economic well-being now and in the future for young New Yorkers starting out their academic and professional journeys. The key to this success? Apprenticeships.

Paid “earn while you learn” apprenticeship programs offer valuable early work experiences, giving young workers an immediate job and income while also creating a pipeline for on-the-job learning, steadily rising wages, and ultimately a pathway into a successful and sustainable long-term career. Robin Hood supports apprenticeships that work by:

  1. Partnering with Accenture and the Mayor’s Office of Talent & Workforce Development to release a comprehensive report on NYC’s apprenticeship landscape, in support of the Mayor’s goal to connect 30,000 New Yorkers to apprenticeships by 2030.
  2. Funding grantees like Pursuit, Per Scholas, and NPower to provide top-notch upskilling and training for in-demand careers in growing fields, from tech to healthcare.

Funding critical income and tuition support

For low-income students aspiring to break into a transformative career, no amount of training negates the need for financial support; Poverty Tracker data finds that for this generation of young adults, employment offers less economic security and career mobility, while the pursuit of higher education for the promise of greater lifetime earnings too often contributes to increased poverty and debt accumulation. To support young adults financially, Robin Hood has long supported CUNY’s ACE and ASAP programs which help students manage education costs by covering tuition, textbooks, metrocards and more, leading to higher rates of college completion among participants.