co hi, everyone welcome to "on the money". i'm becky quick. remember your first summer job why that may be a thing of the past and how businesses how are paying the price cue the music. the people who swim towards sharks in the water when they see them this a story with scientific teeth. the new program that can help you save for retirement as long as you live in the right place. plus, how technology is transforming the girl scouts and, oh yeah! guess what there may be new cookies next time you buy "on the money" starts now. this is "on the money" your money, your life, your

future now becky quick. we begin with a summer job for many of us it was working as a lifeguard, poeing lawns or maybe scooping ice cream a part-time summer gig was the first introduction to the workforce, but as kate rogers found, businesses these days have a tough time finding teens hungry for a paycheck. still hiring is this week's cover story. >> reporter: janai hill is kicking off her first summer working in new jersey. the 16-year old is making $10.50, $0.50 above the minimum wage, serving up cold drinks and fries to customers on the boardwalk. >> when i'm not in school over the summer i like to keep myself busy. >> reporter: hill may enjoy working but the share of teens working or seeking work in june, july and august has been stagnant in recent year. participation rate in last

summer it was 40%, ten years ago it was 50% and in the late 1990s, 60% at the same time, the number of teens enrolled in summer courses has gone up significantly. in 1985, just 10% of teens took courses in july. last year, that number was at 45%. while preparing for college is important, experts say so too is having that first job. >> we hear a lot of conversation about being college ready. we don't hear a lot of conversations about being work ready. you can only learn so much in a classroom about how to actually work in many cases those first jobs are really important at teaching skills that supplement classroom education that can't replace it. >> reporter: whether it is summer courses or other extracurricular activities, franchisee make hane has seen a shift in the atlanta area. >> they're doing things like volunteer work they're engaged in their

churches, whether it is volunteering there they're looking at their extracurricular activities they are taking additional summer courses whereas previously the labor pool for summer students would have been much higher. now we fit a little bit differently in the mix. >> reporter: in fact, he says in order to remain flexible with teen scheduling he's getting creative, hiring more workers. meanwhile, hills' boss anthony bannon says he shifted recruiting tactics as well, bringing younger workers into the fold as older teens became less available. >> we found over the last couple of years as 15, 16, 17-year olds aren't working as much we had to open up to 14 and 15-year olds using programs like working papers and working with schools. we had to expand the age range a little bit. >> reporter: in this labor market the lack of availability is anything but ideal for these companies, becky, but they're finding ways to make it work. >> it is so different than when we were growing up kate, are teens still applying for these jobs at all? >> so they are, but their

availability is really, really shifting because they're padding their resume for college, you know. >> right. >> you know, if you can afford because your family is more well off to not work and do all of these extracurricular activities and still have your parents support you, that's one road kids are doing more with sports or they're working but their time is in shorter shifts because they have to get to volunteer work, sports or whatever it may be. >> kate rogers thank you. if teens aren't earning summer paychecks, how are they spending time andrew is with glass door. thank you for being with us today. >> thank you. >> what do you think is happening to the summer job? why aren't teens working the way they were? >> this has been happening since the 1980s, the share of teens trying to get jobs has been plummeting and the main reason is the value of education has risen so fast in today's changing job market compared to wages in retail and restaurants where most teens work, that teens are spending their time in school and doing things in the

summer that make them a better applicant for top colleges. >> so once again it is colleges' fault for not putting enough emphasis or not giving enough weight to a teen responsible enough to get a job. >> it is also changes in the job market, right. in 1980, manufacturing played a bigger role in the economy blue collar labor jobs were a bigger share of jobs today all of the job growth is happening in health care, tech and professional services. those are fields where you have got to have higher education in order to advance and really get into them. >> does it seem like teens are getting shortchanged on this and that maybe colleges and businesses are shortchanging themselves in terms of all of the things you get being a teenager, getting a first job, making sure you show up on time, that you know how to deal with all kind of customers? it just seems to me it is a hugely valuable skill set that maybe isn't being appreciated enough. >> i agree

there definitely are on the job skills everybody learns in their first jobs and they're soft skills, basic things like being responsible and learning how to negotiate with people and work in teams but the reality is that you can also learn that in school as well, like a lot of aspects of course work and volunteering are very similar to working, you know, in a job. one silver lining for teens is that wages are definitely rising in retail and food service jobs. about half of teens work in those two sectors. that's where most of the jobs are, and because employers are struggling to hire them we are seeing on glass door faster wage growth for those positions and for the overall economy. there's a silver lining there. >> who is getting those jobs >> for the most part it is teens with more skills frankly another trend that is happening is high-paying internships this is a new thing at tech companies. often if you are a seen with some programming skills, there are internships at facebook and amazon that will pay $6,000 or

$7,000 a month for the summer for an internship. >> wow. >> it is pulling teens away from the traditional waiter or cashier jobs as well. >> i think it is great to see internships that actually pay because it means people who don't have parents who are well off have the same opportunity in terms of getting the internships and being able to accept them and say yes. >> if you have the coding skills that are in demand, you can, you know, land one of these really high-paying internships that puts you on the fast track to a great job in new york, san francisco, seattle or one of the other high-paying metros. >> andrew, thank you it is good to see you. >> thank you up next, we're "on the money" usually when somebody spots a shark everybody gets out of the water. but not these guys why they are jumping in and how you can follow along later, workers at this coffee company can blend some of today's paycheck into their future why automatic funding for retirement can make a latte sense. right now let's lieu how the

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>> i am a huge fan you of on twitter and other places, but why did you start o search by the way, you are a fisherman, not a scientist originally, right? >> that's right. back in the early 2000s we were helping some scientists study bill fish. we were helping them capture, tag and release them, and they started talking to us about our large sharks and we are down to about some% of our lar10% of ou, and if we lose the shark we're not going to have fish for our kids i said where are they migrating and giving birth they said, they're too big we don't know i said, man, did you say no big sharks, no fish sandwiches they said yeah i said, i guess we better do that it is interesting why we do our work it is about abundance so everyone's kids can eat food, but, you know, the path to abundance goes through the lark sharks and the great white shark. >> you have been incredibly

successful, you and the scientific community in terms of seeing a rebound of the species. where are we now versus when you started? >> we are making big progress on the east and west coasts, having a nice recovery of white sharks from management moves made 20 and 30 years ago we are having a steady increase and i think we are winning on the east and west coast from a fisheries management standpoint and it is a testament to a lot of good science and management we're kind of the model of the work. >> i mentioned i have been fascinated with you for several years now. you let the public follow along and follow the tracking paths of some of these sharks, and you give the sharks their own voice with funny things like twitter handles. why do you do that >> a couple of reasons like number one, if we are getting to abundance in the future it is going to take us all so we open source the tracking to let everyone be involved in the project. because it creates awareness, people start to understand the sharks we can talk about other issues and build a global ocean

movement the reason we gave the sharks a voice is because we had to understand do everything that "jaws" did if we solve the science puzzle and we knew how to manage them but people didn't want to because we were afraid of them, we wouldn't be able to get things going in the right direction. by giving the sharks a voice, people can engage. people start to hear about sharks when they're all sorts of different places all over and not only when there's an incident it puts everything in perspective. >> having said that, with the success we have seen with the comeback of the sharks, i'm thinking places like cape cod, you are seeing more reports of people engaging with sharks in not a great way, i'm thinking shark attacks. what do you do to manage the bad pr that comes with that? >> we're not seeing an increase in shark attacks it is amazing with so many more people in the water. i think people have to be conscious when they go into the water. you know, when we go to the

forest, we look around we wouldn't walk out into the wildebeast when the lions are chasing them don't swim into the middle of the food chain the odds are so low in terms of an incident, that's the only thing to make them be aware. >> what's been the most exciting, interesting, surprising thing you found in your research while you have been doing this. >> really nova scotia in the north atlantic is surprising us with catching and tagging seven sharks there last year, we tagged six and watching them return now i think the vastness, they're moving from the gulf of st. lawrence to the florida panhandle every year and back. >> chris, we appreciate your time it is a pleasure to have you on and hope to talk to you again soon. >> thanks for having me. up next, "on the money", filling gap. how 7 million workers are getting help to plan for their future late, new badges, a new

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♪ several states are tackling the nation's retirement savings crisis head on california is the latest, requiring small businesses to join a state-sponsored retirement savings program or start offering a private plan. change is brewing as senior personal finance correspondent sharon epperson found.

>> reporter: 27-year-old ramone gonzalez believes in having a game plan at work and for his own finances >> i'm saving about $250 a month. >> reporter: a production supervisor at red bay coffee in oakland, california, he is receiving for his future in a new workplace retirement plan called cal savers. >> i will have a nice lump sum when retirement is over. >> reporter: red bay is one of the first to enroll its employees in the state-sponsored program, allowing private sector employees to save and invest in an individual retirement account at work. >> we are open to full and part-time employees and soon to those independent contractors or gig workers. >> reporter: while not a traditional 401(k) plan, it is designed to help bridge the savings gap for workers who do not have access to an employer-sponsored plan. more than 7 million california workers have no retirement savings plan at work

two-thirds are at small businesses with fewer than 100 employees. 49-year-old maria del carmen castillo vasquez who cleans offices in the san francisco bay area is now starting to save for her own future and her family. >> she is very happy that she has this type of savings plan, but she has never had one before. >> reporter: janaco's founder and president lorenzo harris, says he can offer employees including maria a benefit that benefits the employees. >> cal savers helps us level the playing field when it comes to attract and retain good workers. >> reporter: they can put away a portion of their pay in an account that, woulds like a roth ira. the contributions are after tax

and can be withdrawn in retirement >> employees are automatically defaulted at a savings rate of 5% that 5% comes directly out of the wages, and an employee can increase that amount, decrease that amount or opt out all together. >> reporter: most of the employees at red bank coffee are participating in this portable program and if they switch jobs they can take it with them ramo ramone gonzalez has no plans to leave the company any time soon but has a plan to build his own personal security. >> it is good to know i will reap the fruits of my labor later on. >> reporter: california is among ten states and largest by population to enact the retirement savings program oregon was the first and has enrolled about 70% of workers in its program since it started in

2017 there are as many as 55 million workers across the country who do not have access to a retirement savings plan at work, becky. >> from the state-sponsored plans, the ones that have been in existence, how have they fared? >> they've fared pretty well they have been building assets gradually, and the issue is really trying to get people involved in saving and disciplined about saving and have it automated. >> that's a key part. >> oregon is a good example. they have about $23 million in assets over the two years they've been in existence. every month, 2 million more in assets. >> sharon. thank you. good to hear about it. sharon epperson. >> sure. up next, "on the money," the girl scouts are introducing about 40 new badges this year. we will talk to the rocket scientist eo who is launching some changes

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crest. ♪ >> what do taylor swift and madeleine albright have in common have to think long and hard about that guess what, they were once girl scouts so was i that's right, i was too. me in my browny uniform from long, long time ago. this year the organization is introduced 42 new badges covering areas like cybersecurity, coding and the outdoors joining us to talk about it is sylvia acevedo great to see you. >> thanks for having me, becky. >> thanks for coming in. lots of new badges you have introduced, which is exciting as a former girl scout, but these are different types of badges.

i'm thinking of this one right here. >> yes, cybersecurity. >> right. >> the girls love cybersecurity. the girls told us they wanted it. >> wasn't your idea, they came to you >> no, they said we live digital lives and we want to be safe online let me tell you, the adoption rate has been phenomenal our girls badges from five to ten year old, do you know in the first few months 84,000, 84,000 badges have been earned. almost 10,000 cybersecurity badges a month are earned. >> wow. >> across the country. >> what do you have to do to get your cybersecurity badge >> what is so fun is after the girls earned their badges, their parents reached out to me on social media and said, you know, my dad comes home and says, what's our protocol for the wi-fi password and when is the last time we cleaned out our browsers and our cache they are learning things so relevant to the world today, but not just cybersecurity we introduced stem badges,

coding for good for example. yes, girls are learning about coding, app development, game development, and what is great is we start at age 5 but go to age 18. >> that is so different than the badges that i was earning as a girl scout i have to wonder how much of this is because you were a rocket scientist before you became the ceo of the girl scouts. >> you know, i really saw how the world is being changed by technology and every girl, most girls have a mobile device in their hands. girls don't want to just be users of technology. they want to be the creators, the inventors and the designers. the great thing, engineer and a systems jer engineer i know about scale and girl scouts is able to use our scale. we are solving two big problems facing the workforce, how do you get more girls interested in stem we're doing that, check. this year stem badges are up 64%, almost 650,000 badges have been earned this year. i mean think about that, the scale there. the other thing is we reach all over america, rural communities,

urban communities, suburban communities. we are offering these opportunities and developing the workforce across america in all 50 states. >> boy scouts is now accepting girls. what has that meant -- are they winnowing off girls? what are you doing to combat that >> the great thing about girl scouts is we are the experts in how girls learn and lead, and we really focus on how do we make sure girls are having safe, fun, relevant skills that matter to them, and that offer them an opportunity and a leg up on life. >> does it mean you are never letting boys into the girl scouts >> absolutely not. we are a girl-only organization, and we have really seen girls just love our new programs our outdoor badges are up 28% year on year, and you are getting to do fun things our new high adventure badges with the north base, you will be able to get badges for snowboarding, for skiing, for snow camping as well as bouldering, rock climbing, backpacking. fantastic. then we have partners, you know, like cybersecurity, ray thee

on-, coding, dell, at&t, they're very interested in how we're going to close the workforce gap. so they're investing in us because they know our scale and our reach. >> you have great cookies. do you have new offering that will be out next time around >> you know what the cookie program is doing fantastic. you know, mum is the word on any new introductions. you have to wait. >> oh, come on >> you have to wait. >> sylvia, thank you for joining us. >> great to see you. >> i appreciate it that is the show for today i'm becky quick. thank you for joining us next week, the magic number. how much money most people think they will need to remember tire, but is it really enough? each week keep it right here we're "on the money" have a great one we will see you next weekend fc toothbrush. but my hygienist said going electric could lead to way cleaner teeth. she said, get the one inspired by dentists, with a round brush head. go pro with oral-b. oral-b's gentle rounded brush head removes more plaque along the gum line.

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hey there. you know what i like to do on friday's at 5:30 p.m.? host "options action" at the nasdaq, of course. here is what is coming up on the big show ♪ president trump escalating the china trade war this week, and dan nathan says there's one group of stocks that could emerge as the big losers he'll tell us what that is plus -- traders were fleeing the fang stocks in droves this week, but the chart master says there's one name that's about to bite back he'll break it down. and later -- hakuna matata means no worries