Nearly one in three Americans with an arrest record or conviction are struggling to find a job, according to JPMorgan Chase data. JPMorgan is working in conjunction with organizations like the Second Chance Business Coalition — which is co-founded by JPMorgan and the Eaton Corporation — and the University of Pennsylvania’s Wharton School to co-host the Second Chance Conference to examine employment trends and discuss sustainable solutions for formerly incarcerated workers.
JPMorgan Chase Head of Research, Policy & Insights for Corporate Responsibility Heather Higginbottom joins Yahoo Finance to outline the objective of breaking down barriers that keep ex-offenders from effectively rejoining the US workforce, from state legislation to re-examining companies’ hiring practices.
"One of the biggest priorities we have is increasing the number of states who have enacted or have passed what we call ‘clean slate legislation,’ and what that means is that states pass laws, and they say after a certain period of time, for certain sets of crimes, your record can be expunged," Higginbottom says. "Unfortunately, the process to do so is incredibly lengthy, bureaucratic, time-consuming, and expensive. And even in those states where there have been efforts to enact these expungement opportunities, it isn’t taken up."
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