The Briefing Room
General Category => Economy/Business => Topic started by: Bigun on September 30, 2013, 05:42:02 pm
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Millennials Face Uphill Climb
http://online.wsj.com/article/SB10001424052702303643304579105450145516622.html
The on-ramp to adulthood is delayed and harder to reach for young people today, a reality that is changing the country's society and economy, according to a new report.
More demanding job requirements, coupled with the pressures of the recession, have delayed the transition to adulthood for young people in the past decade and earned them the title of "the new lost generation," according to the report from the Georgetown University Center on Education and the Workforce, published Monday.
Much more at above link!
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Labor force participation rate for young people is at lowest point in 40 years in the not so great Obama economy!
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Labor force participation rate for young people is at lowest point in 40 years in the not so great Obama economy!
So difficult to wrap my head around people with college degrees being satisfied with being unable to find a decent job and having to live home with mommie and daddy and get free rent and insurance.
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So difficult to wrap my head around people with college degrees being satisfied with being unable to find a decent job and having to live home with mommie and daddy and get free rent and insurance.
In many cases it's not so much satisfaction as it is no real way out. College-- the long-advertised way out of poverty sold to them throughout the 90s and 2000s-- is exactly what got them into poverty in the first place, and there are few other options if that doesn't work. It's simply cheaper to stay at home, pool resources (one cable bill is cheaper than two) and deal with it rather than to blow money on rent and separate everything.
Now, admittedly, this is much easier with the older children in large families, as they get to stick around and help with their younger siblings (and, in extended families, nephews). A few of my friends started out as independent, then ended up moving back in with their parents. Debt is certainly a factor, but so is the cost of rent, practically impossible to afford without roommates. Taking a look at the people in my home town that were in my graduating class, most of us are still living with parents.
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So difficult to wrap my head around people with college degrees being satisfied with being unable to find a decent job and having to live home with mommie and daddy and get free rent and insurance.
I don't think it's a matter of being satisfied but rather a situation they find themselves trapped in. They will, I fervently hope, make their displeasure about that very apparent next year!
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In many cases it's not so much satisfaction as it is no real way out. College-- the long-advertised way out of poverty sold to them throughout the 90s and 2000s-- is exactly what got them into poverty in the first place, and there are few other options if that doesn't work. It's simply cheaper to stay at home, pool resources (one cable bill is cheaper than two) and deal with it rather than to blow money on rent and separate everything.
I grudgingly have to agree with you. Today's college is (IMO) nothing more than a scrap of paper that too many employers are screaming for, yet is not required for the job performance. I learned all the skills I ever needed while in the military.
This also deals a stunning blow to the fallacy that "growth" is the only indicator of an improving economy.
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In many cases it's not so much satisfaction as it is no real way out. College-- the long-advertised way out of poverty sold to them throughout the 90s and 2000s-- is exactly what got them into poverty in the first place, and there are few other options if that doesn't work. It's simply cheaper to stay at home, pool resources (one cable bill is cheaper than two) and deal with it rather than to blow money on rent and separate everything.
Now, admittedly, this is much easier with the older children in large families, as they get to stick around and help with their younger siblings (and, in extended families, nephews). A few of my friends started out as independent, then ended up moving back in with their parents. Debt is certainly a factor, but so is the cost of rent, practically impossible to afford without roommates. Taking a look at the people in my home town that were in my graduating class, most of us are still living with parents.
Back in my day you moved out and on your own as soon as possible. I would have rather had my wisdom teeth pulled again than move back in with my parents...
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So difficult to wrap my head around people with college degrees being satisfied with being unable to find a decent job and having to live home with mommie and daddy and get free rent and insurance.
It is NOT "satisfied."
It IS dealing with "reality."
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Labor force participation rate for young people is at lowest point in 40 years in the not so great Obama economy!
To some degree these kiddies are the victims of their own political decisions. Unfortunately, almost none of them will realize that for at least another 20 to 30 years.
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It is NOT "satisfied."
It IS dealing with "reality."
A reality they helped create.
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To some degree these kiddies are the victims of their own political decisions. Unfortunately, almost none of them will realize that for at least another 20 to 30 years.
The phrase "reaping what you have sown" comes to mind.