CVS Caremark Joins White House Plan to Help Youth Jobs Outlook

CVS Caremark prides itself on its diverse workforce and as a place where rewarding careers happen.

So when the White House invited us to participate in their Summer Jobs+ initiative, a new call to action for businesses, non-profits and government to work together to provide pathways to employment for low-income and “disconnected” youth in the summer of 2012, we gladly stepped-up to the plate.

CVS Caremark President and CEO Larry J. Merlo headed to Washington, where he joined other industry leaders, U.S. Secretary of Labor Hilda Solis (and Bon Jovi!) at an event launching President Obama’s plan.

A commitment to providing fulfilling job opportunities to younger employees is something we’ve always held as a priority. Over the years countless young people have gotten their first jobs at CVS Caremark, and many of those folks are still working here today.

Continuing that longstanding commitment to youth jobs, we pledged to hire more than 20,000 young job-seekers into the CVS Caremark workforce this year, affording them valuable on-the-job experience as pharmacy service associates, technicians, cashiers and interns.

And we didn’t stop there. Through a variety of non-profit partnerships, CVS Caremark will additionally help 100,000 youth age 16 through 24 develop skills that will prepare them for employment, either with our company or elsewhere.

By all accounts our efforts will make a difference. According to the Department of Labor’s Bureau of Labor Statistics only 48.8 percent of youth between the ages of 16-24 were employed in July, the month when youth employment usually peaks. This is significantly lower than the 59.2 percent of youth who were employed five years ago and 63.3 percent of youth who were employed 10 years ago.  Minority youth had an especially difficult time finding employment this past summer. Only 34.6 percent of African American youth and 42.9 percent of Hispanic youth had a job this past July.

“Our company is committed to job growth, a diverse workforce and to helping America’s youth develop the job skills they need,” said Merlo. “These aren’t just job openings, they are doors opening to rewarding, successful careers.”