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I think there is a generational shift contributing to the problem. My parents let me know that once I turned 18, I was paying my own way, whether it be college, rent, whatever. I was free to make my own decisions but there were going to be no handouts. When I was teaching college English, I noticed alot of students lived at home, or had parents who were paying there way, not only their college tuition but other things. I saw alot of students driving expensive vehicles, designer clothes, and playing with all sorts of toys. I even heard one student say to another after one of my classes "Oh I don't care what it costs, my parents will pay for it." Rarely did these kids work and they spent alot of time partying. I'm not saying all students do this and I'm not saying students didn't do it when I attended college, but I saw more of it with the upcoming generation when I was teaching.
According to this report from the AFL-CIO, young people under 35 are strugging to gain independence and make ends meet in very large numbers. 1 in three young adults under 35 live with their parents, 31% don't have health insurance and only 31% report making enough money to pay all the bills and save at least some of their income. They are burdened with student loans and are putting off traditional "rites of passage" like buying a house and having children.
So what is causing the problem? Is it the generation itself or outside pressures out of their control?
Well, since this comes from the AFL-CIO, the answer must be that we need more unionized green jobs, and we need big government to pull it off.
- College. Society has convinced us that EVERYONE needs to go to college. The result from this is soaring tuition costs. Not only that, but you now need a college degree to get the same job you could 30 years ago with a GED. Since everyone gets a degree, they've become less valuable. 20 somethings start their lives 100 grand in student loan debt.
- Entitlement. Growing up, I wasn't given much. I didn't think I needed much. Unlike many people my age, I've never had credit card debt.
- Housing bubble. Older people were raking it in during 2000-2008, as they saw their property values soar. Young people could not get into the market. This is changing, though. However, in areas like where I am, it still costs a lot to get into a safe neighborhood.
I'm married, own a home (our second, actually, we just moved). For the northeast, this is bucking the trend. We're not high-income, just conservative with money. Many people my age drink my mortgage in alcohol.
6 times out of 10 it's the parents fault for giving them unrealistic expectations.
I wholeheartedly agree...Did ya ever see that news piece about the "Millennials"?
These are the kids we're talking about.
from Wiki:
Generation Y in the workforce
Economic prospects for generation Y have worsened due to the Late-2000s recession. Several governments have instituted major youth employment schemes out of fear of social unrest such as the 2008 Greek riots due to the dramatically increased rates of youth unemployment.[41] In Europe youth unemployment levels are very high (40% in Spain, 35% in the Baltic states, and more than 20% in many more) as of 2009 leading commentators to worry about the long term social and economic effects of the unemployment.[42] Unemployment levels in other areas of the world are also high, with the youth unemployment rate in the U.S. reaching a record level (18.5%) since the statistic started being gathered in 1948, in July 2009.[43]
The Millennials are sometimes called the "Trophy Generation", or "Trophy Kids,"[44] a term that reflects the trend in competitive sports, as well as many other aspects of life, where "no one loses" and everyone gets a "Thanks for Participating" trophy and symbolizing a perceived sense of entitlement. It has been reported that this is an issue in corporate environments."[44] Some employers are concerned that Millennials have too great expectations from the workplace and desire to shape their jobs to fit their lives rather than adapt their lives to the workplace.[45] To better understand this mindset, many large firms are currently studying this conflict and are trying to devise new programs to help older employees understand Millennials, while at the same time making Millennials more comfortable. For example, Goldman Sachs conducts training programs that use actors to portray Millennials who assertively seek more feedback, responsibility, and involvement in decision making. After the performance, employees discuss and debate the generational differences they have seen played out"[44]
Seriously? I don't know if I should be flattered or offended.
Actually, I'm just as guilty as nat. Until I noticed that little icon under your profile couple of months ago (adding a picture, anything, will pull gender information from profile). Although, I believe, if you don't have a picture, the female (or male) icon will still be there but faded so not easily noticeable.
Quote:
Originally Posted by natalayjones
6 times out of 10 it's the parents fault for giving them unrealistic expectations.
That might depend on what one would call unrealistic. I'm meeting quite a few young folks who are struggling to find a job, and these are well educated. Parents did a fine job, and while they are not living with their parents, they are still depending on them, while they try to settle down.
And then, I just met a guy who bought his 17-yr old son a brand new Infiniti G37 coupe because he didn't want to drive a 2000 Volvo S80.
Parents don't give their kids enough drive. Back when you used to be booted out at 18, your survival instinct took over and you figured it out. We hand too many people too much these days. If you have nothing, and are given nothing, you'll figure out how to make a living and how to become a success.
If you're given everything, you have no respect for anything and won't be successful.
The young generations feel like they're entitled to things and have no idea how to become successful, and have no respect for money.
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