Article-Suffering From Highest Unemployment Since WW2, Young Adults Are 'Recessions Lost Generation

news.yahoo.com...

WASHINGTON (AP) — Call it the recession's lost generation.

In record-setting numbers, young adults struggling to find work are shunning long-distance moves to live with Mom and Dad, delaying marriage and buying fewer homes, often raising kids out of wedlock. They suffer from the highest unemployment since World War II and risk living in poverty more than others — nearly 1 in 5.

New 2010 census data released Thursday show the wrenching impact of a recession that officially ended in mid-2009. It highlights the missed opportunities and dim prospects for a generation of mostly 20-somethings and 30-somethings coming of age in a prolonged slump with high unemployment.

If I understand this correctly, the generation thats around 20 to 30 years old is having the hardest time with unemployment since WW2. From what Ive been told most of my life, most people usually are finishing up school and beginning their careers around mid-20's, if not earlier.

We have a monster jobs problem, and young people are the biggest losers," said Andrew Sum, an economist and director of the Center for Labor Market Studies at Northeastern University. He noted that for recent college grads now getting by with waitressing, bartending and odd jobs, they will have to compete with new graduates for entry-level career positions when the job market eventually does improve.

Eventually improves....When is that expected to be?

"Their really high levels of underemployment and unemployment will haunt young people for at least another decade," Sum said

Oh...just another 10 or so years. No worries, we'll just be hitting our mid 30's if not 40's by then....and then we get to compete with the younger generations for the same jobs we needed a decade earlier

Richard Freeman, an economist at Harvard University, added: "These people will be scarred, and they will be called the 'lost generation' — in that their careers would not be the same way if we had avoided this economic disaster."

In all, the employment-to-population ratio for all age groups from 2007-2010 dropped faster than for any similar period since the government began tracking the data in 1948.

Going on year 7 of unemployment.

S&F.

Going on month 8 of unemployment.

S&F.

I had to go back to school to hold off student loan payments until the job market improves...and going deeper into debt doing it. But it's a silver lining because I love my new major, which is environmental science.

S + F.

Where is Robespierre and Marat when we need them? Is it time to wheel out the guillotine yet? Lol would be funny if it wasn't so tragic.

Im pretty much in the same boat as yall. A little over 2 years unemployed for me. Ive been in community college for most of that time, about to get my first degree, but the job market dosent look very nice at the moment. Im not really sure what im going to do yet in the near future.

reply to post by buni11687


What? This recession ended in 2009?

Says who?

It doesn't seem to be getting better. Stores have shuttered and will continue to do so. People will continue to max out their unemployment.

Just hang in there because it's a bumpy ride and will be for the foreseeable future.

And before you blame it all on Obama? This recession started with Bush and it's ongoing. It did NOT end in 2009!

Obama and bush are the same garbage as are dems and repubs. All millionaire puppets dancing to the billionaires' strings.

This is a serious issue, just look to the third world at what happens when young men cannot find work, ehem Arab spring. . .

I just graduated in May, still looking for a job. . .

Can't go back to school (no income so can not get additional student loans to cover tuition)

I already have a degree so I am placed at the bottom of the list for any internships (even unpaid ones)

I feel so cheated now that I have a degree but apparently all the studying and work I did to earn my degree does not count as experience in my field (Business retailing and consumer sciences) so I get passed up for interviews

I am interested in what degree the people on here have or are trying to get who are unable to find a job. I am wondering if there is a correlation between unemployment and a certain types of fields/degrees that people are graduating into. So if you dont mind humoring me can you please tell me what your degree major is/will be?

Originally posted by gravytrain
I am interested in what degree the people on here have or are trying to get who are unable to find a job. I am wondering if there is a correlation between unemployment and a certain types of fields/degrees that people are graduating into. So if you dont mind humoring me can you please tell me what your degree major is/will be?

Business Management.

was on unemployment for almost 2 ears up untill this past may. just finishing up a seasonal job and going back to the city to find something. this post hit home for me.

reply to post by josh2009s


I know a lot of business degree holders who are having trouble finding work right now. I have an engineering degree and I have never had a problem finding a job, and their still is a shortage of qualified engineers in the USA even though the job market is horrible at the moment.