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They're just reporting it differently. 93 MILLION people are not in the workforce. The BLS defines those not in the labor force as people ages 16 and older who are neither employed nor “made specific efforts to find employment sometime during the 4-week period ending with the reference week.”
Unemployment in black communities is abysmal - more than double other communities. ANOTHER reason why immigration must be put in a moratorium status for awhile.
I think americans can search for greener pastures abroad. ESL teachers are in demand in East Asia and several Southeast Asian countries. Korea, I heard, is a great place to teach if you want to save. You wont earn salaries as big in the US, but you arent burdened with a lot of necessary payments like mortgage, expensive, expensive health insurace, auto and home insurance, autoloans, etc.
You dont need an English degree to teach. ESL certifications are good enough
It seems a lot of younger kids on here complain about student debt and not being able to find a decent job. My guess is they're just not working hard enough or smart enough. I was able to obtain my MBA and become an IBM Senior Manager at 25 in 1959 and work my way up to Director in 1961 and VP in 1964. I did it by working as a drive in theater manager after I graduated college in 1957 and I stayed at IBM for 40 years.
For many it is the lack of a stable job and benefits. My parents have a friend that tells me I need to find a job with benefits. Especially with Obamacare it is needed BUT I can't just make a full-time opening appear just because I need them to. Sadly millennials include 26 and up adults who can't stay on their parents plans if they can't find full-time jobs that do offer benefits. If you think about it millennials can include those up to 35 years old so that is up to about half the cohort in that range.
It seems a lot of younger kids on here complain about student debt and not being able to find a decent job. My guess is they're just not working hard enough or smart enough. I was able to obtain my MBA and become an IBM Senior Manager at 25 in 1959 and work my way up to Director in 1961 and VP in 1964. I did it by working as a drive in theater manager after I graduated college in 1957 and I stayed at IBM for 40 years.
Perhaps you kids shouldn't job hop and say in 1 career for decades. You have to make yourself irreplaceable. You will earn the company's respect and be able to retire with a pension just like I did.
I really don't know many millennials complaining about lack of jobs. I'm 33, so i'm at the front end of the millennial generation. It largely depends where you're located. Yes, student debt is a problem for this generation - and it delays our spending on other goods and services, delays us getting married, buying a home, etc. But the rest of your post shows how out of touch with today's reality you are.
Retire with a pension just like you did? Which companies are still offering new employees pensions? It's shrinking with every passing month.
Don't job hop? We have to if we want to advance in our careers. The days of people staying at a company for 40 years (check that, 20 years) are LONG GONE. i was at my first company for 6, i'm at my current for 5. i'm rare for my age that i've only been at 2 companies.
Millenials are doing ok, but wages are lower, when adjusting for inflation, and burdens of student debt are real, though exagerrated by the media.
If anything its easier. You don't even need to bribe them. The key now is to vaguely talk about "innovation" and having a "product of the future". Tesla has gotten billions in market cap with the same tag line and no profits. Jokes aside, you just have to sweet talk them and be innovative.
Tesla's stock price hardly has to do with the ease of finding a job. Look at who is employed by Tesla and you'll see highly skilled engineers and designers. And sure, they're not currently turning a profit - but young companies start off that way.
I think americans can search for greener pastures abroad. ESL teachers are in demand in East Asia and several Southeast Asian countries. Korea, I heard, is a great place to teach if you want to save. You wont earn salaries as big in the US, but you arent burdened with a lot of necessary payments like mortgage, expensive, expensive health insurace, auto and home insurance, autoloans, etc.
You dont need an English degree to teach. ESL certifications are good enough
And then what? Unless you resign yourself to working abroad as a low wage, often poorly treated English teacher for the rest of your life then you have a mountain to climb finding employment back in the US. Even in Korea, most university or managerial jobs require an MA in ESL. That's even more true in the US.
I have many friends who went this route. Most of them feel trapped in the country they are teaching in unless they have parents who are able to help them get back on their feet in the US. I have a coworker in this situation - she had a college degree and 5 years of teaching English, yet spent more than a year to land an entry level job. She calls her 5 years in Korea her break from life - it didn't further her career at all but she jumped at the opportunity when she graduated from college right after the recession hit.
It seems a lot of younger kids on here complain about student debt and not being able to find a decent job. My guess is they're just not working hard enough or smart enough. I was able to obtain my MBA and become an IBM Senior Manager at 25 in 1959 and work my way up to Director in 1961 and VP in 1964. I did it by working as a drive in theater manager after I graduated college in 1957 and I stayed at IBM for 40 years.
Perhaps you kids shouldn't job hop and say in 1 career for decades. You have to make yourself irreplaceable. You will earn the company's respect and be able to retire with a pension just like I did.
You're applying your old world standards on the modern world. This isn't post-war America when the economy was filled with good paying jobs and a low cost of living. I bet you were able to pay for school and support yourself without going into debt while you were studying. We took on a bunch of debt for a degree we had to have for jobs that aren't there in an economy that is high manipulated. Companies don't train anybody because they're penny pinchers and their requirements are so specific it is like finding a needle in a haystack. On top of that, back in the day there was maybe one or two dozen people applying to a job...now there are hundreds if not thousands of people applying to a job.
The problem isn't a lack of jobs; the problem is a lack of jobs which offer decent pay and benefits. THOSE jobs are becoming ever harder to get.
Some of the Millennials' whininess is just the ordinary whininess of youth, but some of it is quite justified.
IMHO, this is the point. Daughter with M.A. has had hard time finding a job in a big East Coast City. The pay that is even advertised is pathetic. Benefits cannot be taken for granted. The GOVT has changed the way they report. I don't believe things are going great. There are still 92 Million out of work. Sorry, you can believe what the administration puts forth as fact and think that Obamanomics are great. I don't.
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