New York City Michael Bloomberg announced today that he and George Soros are dedicating $130 million to improved the lives and job opportunities of young blacks and Latinos in the city:
The program, the most ambitious policy push of Mr. Bloomberg’s third term, would overhaul how the government interacts with a population of about 315,000 New Yorkers who are disproportionately undereducated, incarcerated and unemployed.I've criticized Bloomberg before for not understanding the extent of poverty and disadvantage that exists in his own city, but this new initiative certainly deserves praise. As the graph above indicates, young men of color (and particularly blacks and Latinos) are suffer greatly from economic disadvantage. The wide-ranging program will invest in job training, recidivism reduction, education, and family life.
