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At least those around 50 had their chance at making money? how about all the people from around 23-30 who haven't had a chance in hell due to sour economy of multiple recessions post world trade and 2008-current, might have started work, now their career and jobs are on hold, move back in with their parents, etc. plus they have the highest student loans in history to pay back. you are about to see another "lost generation"
You have a lot of jaded people just entering the work force and already forming bad opinions about it that their efforts are entirely futile...that is not good. Youth employment in Europe right now is around 30-40% in some countries. I was more able to make more money in the summer in high school than I can now almost turning 30, I also always usually had a part time weekend job.
None of that is available now. It is not a lack of desire to work, the jobs just don't exist, even all the fall back jobs just to "stay afloat".
Just my personal example, I made around 35K in 2005, 45K in 2006, 65K in 2007, 2008 35K (b/c job dried up only worked 6 months), 2009, 9K, 2010, 10K, nothing in sight and blew through substantial amount of $. The next step if things do not get better, is move back in with parents. I know many people 25-30 that are now living with their parents, kind of sad, because the people are perfectly capable of working. I am trying to go back to school for something else now but will probably cancel that out over fear of going even further in to debt with no job waiting for me as having no job now has allowed me time to do ROI calculations and projections. Better to just not do anything and not take on more debt and only go back if money is coming in, only then will the risk factor be OK to pay tuition. For the smart people w/o a safety net, it sucks. The "if you work hard and play by the rules" is not in play anymore.
But Wharton finance professor Franklin Allen warns that this recession is very different from downturns of the past. Young people who assume that a graduate degree is their ticket to a good job may be sorely mistaken. According to the GMAC Global Management Education Graduate Survey for 2010, the portion of MBA graduates with a job offer by March declined this year -- the second consecutive drop after that figure saw a steady climb since 2003. Overall, half of all graduates of the class of 2010 had a job or job offer by March. Newly minted attorneys face a similar fate: Many are competing against out-of-work lawyers for scant law firm positions and even entry-level jobs. "In a normal recession [riding it out in grad school] is fine, but in this one it's a risky strategy," says Allen. "Young people aren't getting jobs the way they used to. Even students from top schools are finding it hard. It's a difficult situation. In normal recessions, things come back relatively quickly, but that's not happening now."
"It's a problem that's not well appreciated. People's careers are being damaged. People who are in their 20s and 30s are not being promoted, they are not getting raises and they are not getting opportunities [to progress in their careers] because the people above them are not moving. They can't leave their jobs because they probably won't be able to find work elsewhere. So they're stuck. This is a serious issue: It's setting people back a few years and they never really recover."
Any room left on that boat for me?
I know exactly what you're going through. Between 04-07 things were all right for me and I had a very good idea of where I thought I would be by now. Unfortunately, by late 07 business started to dry up and all of my plans were derailed. Now, there's no work to be had and other ventures are further and fewer. I'm getting to that point where I often ask myself if anything I do from here on out is even close to paying in the long run.
Yeah... I honestly don't understand how older people are complaining so much. No offence, I have a lot of respect for people older than me... but at least you had your chance. I'm a very intelligent, ambitious, honest 26 year old. I've been unemployed/underemployed for over 2 years now. I can't pay my bills, and any time something breaks or goes wrong I need to go further in debt to keep up my job search. My life is already screwed over and I never even got the chance to start. I was only 6-12 months away from starting my own business when I got laid off, and now that's all lost. I don't get to start over, I get to start waaay behind. If I can get a job like I used to have, it'll take me 2 years to break even. The sad part is, those jobs don't seem to exist anymore. I'll be lucky to get a job that pays enough to eat before my unemployment dries up for good sometime in November.
To quote my favorite modern author Chuck Palahniuk:
“We're the middle children of history.... no purpose or place. We have no Great War, no Great Depression. Our great war is a spiritual war. Our great depression is our lives.”
I just turned 30 in Sept. I’ve been unemployed since April. I’m one of those unlucky bastards that is missing even my Tier 1 extension by ONE WEEK and my benefits will end in late Nov. unless the lame duck congress session passes a new extension. Lots of people have had 99 weeks of unemployment, I’m getting 26. I’m praying that this week I’ll be able to get a seasonal job at TWO retail stores that will probably only last til Jan. To add insult to injury, at minimum wage for both I’ll be making LESS then what I was getting for unemployment. And I guess you could say I’m “lucky” compared to some people to have ANY job. Working in fast food is the last bastion of dignity I haven’t forsaken yet, but give it time and I’ll probably be asking you if you’d like fries with that too.
I have a degree in Product Design and 6 years of experience. I made a silly mistake though. I went to college for something I LOVED and wanted to do for the rest of my life, and soon all I may have to show for it is a debt that will take me 20 years to pay off at this rate and keeps holding me back from owning a home, a new vehicle, etc. I should be thinking about going back to school for something else right now, but honestly, I just don’t see the ROI. For me to go back and spend another $20K on an education would be financial suicide if it doesn’t immediately pay off. And I only have $35K in debt, a conservative number by most standards when you consider that an out of state tuition at an elite school could easily set you back $20K a year tuition alone. A few years ago when I was in a very precarious employment situation where I feared being terminated I considered going back to school. I did the math and for a private loan and 20K I would be paying $185 a month for just that loan. Add to that the $350 a month I already pay, and there’s a mortgage payment or a brand new car payment right there. There’s my lack of savings too. Higher education is ZERO guarantee of employment these days. Everyone has a degree now. Even having a graduate degree doesn’t guarantee you anything.
I’ve watched my friends that went straight into a trade after high school FLORISH, while I’ve spent the last 10 years of my life accomplishing NOTHING If I have to go back for a new degree and change careers. They BUILT their 1st houses. I paid rent. They bought NEW vehicles. I paid too much for a different used car because I didn’t have collateral when I started a new car loan. They bought snowmobiles, and 4 wheelers, and any toy they desired. I hoped I could afford to go on a minor vacation that year. I got shafted. They moved ahead. I feel like the last 10 years of my life I was treading water. They were SWIMMING. I was SUPPOSED to pass them at some point. I’m not so sure that’s going to happen right now. Yes, because they work with their hands, and their arms, and their back, they might physically break down at some point and be unable to work. Somewhere around 45 I SHOULD surpass their earnings, while they worry about the next 20 years and they wake up every morning with aches and pains and have a hard time getting out of bed. So far, I haven’t seen that. I’d trade my supposed future potential for their morning aches and pains.
Now I just don’t know what I want to do anymore. I feel like I’m 17 again. Only the future isn’t bright, and promising, and full of potential. I’m doing what I have to do to SURVIVE. Tomorrow isn’t exciting because I don’t know what will happen, It’s SCARY. Like grapico, I feel like I’m better off just riding it out in some isht job until/if I feel like the risk is low enough for me to go back to school. And I’m going to take a VERY cautious and cynical approach to things. How long have we been hearing things like “All the baby boomers are going to retire and there will be a HUGE demand for teachers!” I shake my head every time someone mentions they are getting a teaching degree. Good luck if you think you’ll get a job in your safe little cookie cutter small hometown. Better decide how bad you want to teach in the inner city. I'd rather be a machinist in a factory or something making $20 an hour vs. a more highly qualified and debt burdened unemployed person.
For a while I was thinking that I was alone in the unemployed Gen Y boat. Then there are you guys, grapico, WildKarrde, and Further North among I'm sure many others on here. For a while I was thinking that there was seriously something wrong with me in the sense of why I'm not where I thought I imagined I would be by now. I'm sure you guys would agree with me that these are supposed to be the best years of our lives; full of opportunities, adventure, personal growth, etc. But that isn't the case any more is it? I think we should change the name of our generation from Gen Y to Gen F'd.
For a while I was thinking that I was alone in the unemployed Gen Y boat. Then there are you guys, grapico, WildKarrde, and Further North among I'm sure many others on here. For a while I was thinking that there was seriously something wrong with me in the sense of why I'm not where I thought I imagined I would be by now. I'm sure you guys would agree with me that these are supposed to be the best years of our lives; full of opportunities, adventure, personal growth, etc. But that isn't the case any more is it? I think we should change the name of our generation from Gen Y to Gen F'd.
Sad but true. I like you're Gen F'd idea, that fits us perfectly.
You would lose your bet. I'm educated, with a 4-year degree and post-graduate studies, several professional certifications, and a few pre-med courses just for the fun of it.
I actually prefer working at Burger King to working in an office. Currently, I'm working in an office. I'm hoping for an opening at Burger King soon so I can get back to what I enjoy.
Me, too! I'm starting a job in a school cafeteria, after working for years in a law firm. No computers, ringing phones, filing deadlines, briefs, or badgering clients for unpaid fees. I know a lot of the youngsters at this school, because my daughter attended there, and they are nice kids. It's a small rural based school. The staff is nice, and the supervisor takes as much pride in it as she would if it were a 4 star restaurant. Much less money, but I am honestly looking forward to the change (I'm in my 50's), after all the stress I've endured, not to mention the holidays and summers off.
To quote my favorite modern author Chuck Palahniuk:
“We're the middle children of history.... no purpose or place. We have no Great War, no Great Depression. Our great war is a spiritual war. Our great depression is our lives.”
I just turned 30 in Sept. I’ve been unemployed since April. I’m one of those unlucky bastards that is missing even my Tier 1 extension by ONE WEEK and my benefits will end in late Nov. unless the lame duck congress session passes a new extension. Lots of people have had 99 weeks of unemployment, I’m getting 26. I’m praying that this week I’ll be able to get a seasonal job at TWO retail stores that will probably only last til Jan. To add insult to injury, at minimum wage for both I’ll be making LESS then what I was getting for unemployment. And I guess you could say I’m “lucky” compared to some people to have ANY job. Working in fast food is the last bastion of dignity I haven’t forsaken yet, but give it time and I’ll probably be asking you if you’d like fries with that too.
I have a degree in Product Design and 6 years of experience. I made a silly mistake though. I went to college for something I LOVED and wanted to do for the rest of my life, and soon all I may have to show for it is a debt that will take me 20 years to pay off at this rate and keeps holding me back from owning a home, a new vehicle, etc. I should be thinking about going back to school for something else right now, but honestly, I just don’t see the ROI. For me to go back and spend another $20K on an education would be financial suicide if it doesn’t immediately pay off. And I only have $35K in debt, a conservative number by most standards when you consider that an out of state tuition at an elite school could easily set you back $20K a year tuition alone. A few years ago when I was in a very precarious employment situation where I feared being terminated I considered going back to school. I did the math and for a private loan and 20K I would be paying $185 a month for just that loan. Add to that the $350 a month I already pay, and there’s a mortgage payment or a brand new car payment right there. There’s my lack of savings too. Higher education is ZERO guarantee of employment these days. Everyone has a degree now. Even having a graduate degree doesn’t guarantee you anything.
I’ve watched my friends that went straight into a trade after high school FLORISH, while I’ve spent the last 10 years of my life accomplishing NOTHING If I have to go back for a new degree and change careers. They BUILT their 1st houses. I paid rent. They bought NEW vehicles. I paid too much for a different used car because I didn’t have collateral when I started a new car loan. They bought snowmobiles, and 4 wheelers, and any toy they desired. I hoped I could afford to go on a minor vacation that year. I got shafted. They moved ahead. I feel like the last 10 years of my life I was treading water. They were SWIMMING. I was SUPPOSED to pass them at some point. I’m not so sure that’s going to happen right now. Yes, because they work with their hands, and their arms, and their back, they might physically break down at some point and be unable to work. Somewhere around 45 I SHOULD surpass their earnings, while they worry about the next 20 years and they wake up every morning with aches and pains and have a hard time getting out of bed. So far, I haven’t seen that. I’d trade my supposed future potential for their morning aches and pains.
Now I just don’t know what I want to do anymore. I feel like I’m 17 again. Only the future isn’t bright, and promising, and full of potential. I’m doing what I have to do to SURVIVE. Tomorrow isn’t exciting because I don’t know what will happen, It’s SCARY. Like grapico, I feel like I’m better off just riding it out in some isht job until/if I feel like the risk is low enough for me to go back to school. And I’m going to take a VERY cautious and cynical approach to things. How long have we been hearing things like “All the baby boomers are going to retire and there will be a HUGE demand for teachers!” I shake my head every time someone mentions they are getting a teaching degree. Good luck if you think you’ll get a job in your safe little cookie cutter small hometown. Better decide how bad you want to teach in the inner city. I'd rather be a machinist in a factory or something making $20 an hour vs. a more highly qualified and debt burdened unemployed person.
Same here, college is not the ticket to success anymore. I know several people who were just goof offs in high school and never went to college, started working at UPS or at a grocery store or a pressure washing business, just stuff like that. Sadly, they are all better off than me. I am looking at picking up skills and stuff that won't be outsourced myself. I am less financially secure now than when I was 18 to be honest. At that time I had already moved out, working 20 hours a week at a law firm and going to school full time. I've been underemployed/unemployed now for almost 3 years and I've never been fired. Hell 14-18 I always had work as well, I worked at a grocery store as a cashier/bag boy and had various odd jobs for work, I painted, I had a pull up job for a milk vendor, etc.. I can't even find an odd job now to make a quick 100 bucks.
I'm taking a few classes right now but probably going to drop it if I can't find some source of income. It was kind of a last *okay I will try this* , but I also did the ROI on it and if it isn't a pay off, which it doesn't look like it will be now looking at BLS and talking to other people it would be financial suicide. This semester isn't putting me into debt though if I continued on it would be going into debt for sure. Grad school would cost a good 40K + around 60K by time it is paid off. I already have about 8-9K from the first time around I am still trying to pay off. My parents really can't help either, my dad is now retired as of this year, and my Mom has been pretty much unemployed for a good 5 years now (she had a long career in real estate)
and that 45K salary I was making isn't exactly that much b/c that was in Chicago... pretty much entry level wages, and was making 35 before that in a different job., I made the extra amount the measly *one* year because of quarterly bonus and picking up IT contract work on the side.
I really don't even know why the color had any part of the post. It would have been acceptable to say that these men who appeared to be educated were in menial jobs.
Welcome to our economy, educated people are taking any job they can get because there is too much competition and not enough jobs to spread around.
I'm one of them. I have an education, took a paycut when I took my current job and will be losing this job (business closing) in March - guess what I'm doing? Going on UC because it's going to be more money for me then taking a menial job or another good paying job part time which seems to be the new full time jobs...
When you have one job, and 40 candidates, these days it's going to be given to the lowest bidder - the one who will take the least amount of pay. Ever noticed more and more you are seeing ALL jobs asking you to send your salary requirements along WITH your resume? Years ago, that never got discussed up front, at least not until an interview.
I really don't even know why the color had any part of the post. It would have been acceptable to say that these men who appeared to be educated were in menial jobs.
Welcome to our economy, educated people are taking any job they can get because there is too much competition and not enough jobs to spread around.
I'm one of them. I have an education, took a paycut when I took my current job and will be losing this job (business closing) in March - guess what I'm doing? Going on UC because it's going to be more money for me then taking a menial job or another good paying job part time which seems to be the new full time jobs...
When you have one job, and 40 candidates, these days it's going to be given to the lowest bidder - the one who will take the least amount of pay. Ever noticed more and more you are seeing ALL jobs asking you to send your salary requirements along WITH your resume? Years ago, that never got discussed up front, at least not until an interview.
I don't think it is 40 candidates, maybe after they have 40 candidates narrowed down from the 500 resumes sent in.
Maybe they just wanted something to do to stay active and get out of the house. Until a few years ago my grandfather worked at Target. Not because he had to, but because he enjoyed it.
Yeah, I have a bachelor's from a top school and I'm actually interviewing for a part time job at Target in the evenings (for a little extra spending money). I wonder if will also be stereotyped by people like the OP.
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