News - - But with high youth unemployment and declining labor-force participation, young people need internships for work experience. Are we doing young people favors by protecting them from so-called exploitation as unpaid internships and depriving them of professional experience?
Over the past four years, the Labor Department has been making it harder for young people to get unpaid internships at for-profit private-sector institutions. New regulations were issued in 2010 , and companies such as Fox Searchlight have been sued for violations.
Paying Sammy minimum wage for two months would cost the record company
$2,735, including workers’ compensation and Social Security payroll taxes. Many companies cannot afford to pay for what is in essence a training program.
Ken Notes: We should split the difference here and have companies offer partial tuition reimbursement (tax deductible) for internship opportunities - win win...
Read More At: http://www.marketwatch.com/story/young-people-get-punished-for-harsh-internship-law-2014-06-27
- - Volume: 2 - WEEK: 27 Date: 7/1/2014 11:45:20 AM -