http://www.economist.com/blogs/theworldin2014/2014/01/youth-unemployment
This article is about the high rate of 20 something's living with there parents due to high rates of unemployment. This article directly relates to me and other students who are soon to be on the job hunt. In Britain 26% of people aged between 20 and 34 live with their parents and in US is worse where that number is at 36%, numbers that are directly related to high unemployment especially in large urban areas. These high numbers could be trouble for this college student generation; however the number of job offers is at a 5 year high and has jumped 8.7% which is a good sign after the recent recession. Another hopeful sign for young workers is that the International Monetary Fund has just increased its global growth forecast by .1%, a number that might seem insignificant but could be enough to get jobs for many young people.
I think one big problem with "the college generation" is that more people are competing for higher level positions. Jobs that do not require a college degree are not in short supply. Many say that not everyone that goes to college should be there and I agree. Someone needs to work in factories and on farms and some of those people are paying hundreds of thousands of dollars for a degree that they barely managed to get and quite possibly won't even be able to use, at least for a long time.
ReplyDeleteAs we see more young people remaining unemployed for a certain time, we are going to see a generation that will not have the necessary skills or experience to replace the retiring workers of older generations. It is important that we encourage initiatives that help younger people get jobs. This can be done though various policies, such as encouraging increased interest in science and technology. As our society becomes more globalized, the factory jobs that Emma talks about will be mostly gone with only a few left for so many that will still need a job. In order to be competitive and address the unemployment of younger generations, it should be important to encourage young people to invest their time in studying fields such as computer science. With this type of skilled workforce, America can see higher skilled jobs being offered for many, and we will be able to produce higher skilled technology.
ReplyDeleteSometimes this figure is taken out of context. I graduate in May and will return home for a while (even with a job). I will start my professional career, save a lot, and move out in 6 months when I am secure financially. I think it is a great option for those who are able.
ReplyDeleteThe job market has been less then friendly in recent years, and living with your parents to the age of thirty is now becoming a hot trend. It is important to note that as a college degree becomes more of a social norm, students are now looking to further separate themselves by attempting to get a masters degree as well. This may help to explain why people of the twenty to thirty years old age demographic are showing little to no increase in annual pay. However, 2014 is a year that shows promise for college graduates. A survey of Britain’s top 100 graduate employers was recently released suggesting that 1,400 more people will be hired fresh out of school. In addition, the International Monetary Fund raised it’s global forecast for 2014 by .1 percentage point to 3.7%. Economist are optimistic this will reduce the amount of young adults living at home in the future.
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