I enjoyed Christopher Orlet’s piece
on the main site today about my generation’s recessionary woes
(those aged 18 to 29).
In light of Census data showing widespread unemployment among
young people, plenty is being written lately about the economic
impact on recent college graduates and those in early-career mode.
Here is
one example:
Nofzinger is among thousands of young adults considered the
recession’s lost generation. In record numbers, they’re struggling
to find work and shunning long-distance moves to live with mom and
dad. The unemployment rate for young adults is the highest since
World War II, and they risk living in poverty more than others —
nearly one in five.
Recently released 2010 census data shows the wrenching impact of
a recession that officially ended in mid-2009. There are missed
opportunities and dim prospects for a generation of mostly
20-somethings and 30-somethings coming of age in a prolonged period
of joblessness.
As Orlet points out, the more concerning statistic should be
laid off blue collar workers (or others) who have the
responsibilities of adult life: Kids to support, a mortgage payment
to make, and no option to move in with mom and dad if things don’t
go well.
Not to say that my generation isn’t suffering economically as a
general rule. But the situation is nowhere near dire. If young
people choose to major in theater or art history, they probably
won’t have a job waiting for them upon graduation. If they do it,
it most assuredly won’t pay enough to live their parents’
lifestyle. (Of course, being a journalism major, I’m one to talk.
The Daily Beast lists “journalism” as the No. 1 most useless
degree.)
Although the media have portrayed these struggles among the
young as a bad thing, there is a silver lining. There is much to be
said for starting with nothing and working your way up, even if
it’s darned hard. But that does involve an ugly four-letter word,
particularly in the age of Obama irresponsibility: work. I do know
many young people who are hard workers yet remain unemployed or
under-employed, so I don’t want to paint with too broad a brush.
But for many of them, the financial responsibilities of adulthood
haven’t kicked in yet, so the scenario isn’t desperate. Not even
close.
Rather than focusing on current distress, the media should
explain the real threat to my generation: unsustainable deficits at
the federal level fueled by entitlements. I wonder when they’ll get
around to it?
In any case, my grandfather’s generation told stories about the
Great Depression, having to walk 10 miles to school and back in a
blizzard without shoes on. (I now am wise enough to know that such
yarns were slightly exaggerated. Maybe.) My generation will tell
our grandkids about the time we lost 3G reception on our iPhones
for a whole 20 minutes.
MikeBee| 9.29.11 @ 1:38PM
David,
The real problem is not being addressed, and this is what is causing the high unemployment rate in your generation. The boomer generation cannot afford to retire, with the economy and housing values where they are right now. Retirement investments are at an all-time low, causing boomers to remain in the workforce. And, retirees have historically counted on selling their last house for a profit, so that they could get rid of the big house payment during their retirement years, and downsize into a condo. With housing values what they are, this can't be done today, also causing boomers to remain in the workforce, rather than retiring. Normally, their jobs would become your generation's jobs; it ain't happening.
Occam's Tool| 9.29.11 @ 7:54PM
Blizzards ain't nothin.'
Augusta| 9.30.11 @ 8:55AM
I congratulate you for your earth bound insight. Like Millennials, my generation, Gen-X, are victims of the parasitic Baby Boomer generation. The Boomers have literally sucked this country dry of opportunity and liberty - hard work is no longer the sure-fire way to make it in this country due to the near impenetrable wall of Bureaucracy that Boomers have erected 'for our own good'. I hope both my generation and yours can restore the American Dream for future generations. God Bless.
yisong| 10.26.11 @ 10:00PM
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