Quote: (09-22-2011 12:29 PM)thegmanifesto Wrote:
IT'S OFFICIAL: The Recession Has Created A New Lost Generation
New census data released today reveals that the recession has made American 20 to 30-somethings into a Lost Generation of unemployed and underemployed, the AP reports.
According to economists, this trend will continue through the decade, and when its over, it will take another decade for this generation to fully recover.
The dream of going to college, getting a degree, finding a job, and striking out on your own has dissipated, leaving only staggering numbers. Only 2.4% of college graduates find jobs that motivate them to move out of state. So they go home.
5.9 million members of The Lost Generation will leave college and return home to live with their parents, that's 25% more than the last recession. Most of them are men.
When they do get home, this generation will work odd jobs until they can start careers. But only a little over half of them make it to that point (55.3%).
Of course this delays the entire process of becoming an adult, getting married, buying a house, and starting a family. Marriage among those aged 24-32 reached a new low of 44.2%. Homeownership fell from 67.3% in 2006 to 65.4% in 2010.
Read more: http://www.businessinsider.com/america-l...z1YhfxnKRD
What is the younger cats take on this?
Overblown?
Dead on?
Thoughts?
I graduated on the eve of the recession in the part of the country where the meltdown was first felt at full force (California Bay Area). Since then I've been laid off, unemployed, traveled to latin america, and now find myself in the northeastern corridor with a nice career.
What was it like? VERY FUCKIN HUMBLING.
I was about to be married, good thing this bitch found another older more stable dude or I would have married a gold digger.
How has it affected me?
I check unemployment news almost daily. It also forced embark me on a journey of self-development. At the moment I am lightweight physically, and emotionally. My material possessions can fit in a small carrying case, I am ready to bounce in a moment's notice. I am free of previous addictions that consume my resources. I read books, went to networking events, polished my resume, but mostly swallowed my pride and armed myself with job hunting knowledge.
I have learned to be a market player. Oh yes, there is nothing like the education one receives in a career center admist battered laborers who cannot use computers and ESL guidance counselors. I was fortunate enough to be placed in a low paying job with awful bosses who tortured my ego until there was none left.
That low paying job I now have parlayed into a career with global possibilities.
And, yet, one thing I learned from this recession is I must not be proud -- that I must be humble. For at an any moment, it can all be taken away from me.
The girls are now here, yet to be honest, they do not interest me as much as I thought they would have. I am more bent in protecting my castle. Which is why I am here in rooshs forum, to gleam the wisdom of the older cats and the smarter young cats cuz .. god damn..
the wilderness sucks.
wilderness = unemployment