Economic Woes

1/16/2009 12:12:00 PM
Interesting financial times we're in these days, eh?

Read this article: Under 30? Looking for a Job? You're not alone.

Interesting excerpt:

“This is the most educated generation, and they were told, "You're special,’ ” notes workplace consultant J.T. O'Donnell. “Well … they’re not special, and they end up going out into the professional world and finding this out.”

She points out that many of Gen Y folks didn’t work as teenagers or during college, and that makes them ill-prepared for the realities of the work world.

“Moreover, by the standards of the older generations who currently hold most management jobs, Gen Y is also viewed as woefully unprepared to jump in and work effectively in a professional setting,” she adds. “As a result, many employers don't feel they have time, energy or money to bring Gen Y workers up to speed — especially when studies show Gen Ys job-hop every 18 months.”

More about generation Y, according to Wikipedia:

"Although different groups or individuals consider a different range of years to constitute Generation Y, that range of years is almost always within the outer bounds of 1976 as the earliest possible year and 2001 as the latest. The ongoing debate is in part due to the lack of a single marquee event or events, analogous to the end of World War II for the boom in births for "Baby Boomer" generation.

If the years 1978-2000 are used - as is common in market research[citation needed] - then the size of Generation Y in the United States is approximately 76 million[2].

Me? I'm 29, turning 30 in August. I'm on the cusp, in my opinion. :-)

Quick polls:

How old are you?
Under 18
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Have you been affected by the economy?
Nope. I'm good.
Sort of. There have been changes at work that have indirectly affected me.
Yes. I've taken a pay cut.
Yes. I've been laid off with a chance for rehiring in the future.
Yes. I'm unemployed.
Yes. I was unemployed but found a new job.
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  1. You know, I never wanted to be roped into the, "Generation Y" category. I've always felt that as a rule (and there are exceptions to rules) that this generation's keyword is: entitlement.

    What? You're out of college? Why by all means, grab your corkboard and move into the corner office of the top floor, big guy. YOU.ARE.IMPORTANT!

    This grates on my nerves.

    Entry-level positions are called that for a reason. They're entry-level.

    And a job is a job. It's not a vacation. No one really truly "LOVES" to work. (They're lying if they say that. There are aspects of every job that are great, but come on. MULES love to work.)

    Bottom line regarding the layoffs: It's terrible. I've been laid off. It's embarassing and scary. It does a number on your self-esteem. That's for sure.

    Bottom line regarding Gen Y'ers "holding out for management": I'm not sure that's the way to go. We've all taken jobs we didn't want solely to pay the bills or keep our health insurance.

    Bottom line for Gen X'ers and above: Your work ethic is to be admired and appreciated. Let this be a lesson to not coddle our children and do everything for them. Make them get a job as teenagers.

    Just like those boy scouts are always prepared for any situation, so should our children be.

  2. well, i'm going to be 36 next i'm not part of gen y.

    i guess i'm gen x? who knows.

    the whole economic situation sucks.

    my husband was just informed that ALL salaried workers @ his company are having their salary reduced by 10%. yeah. that's just freaking great. all in all...not a good day here.

  3. Oh TLC. That's terrible. I am so sorry to hear that. I'm telling you, employees all over the country are going to start fearing Fridays. It seems like a major decisions are relayed to us then, aren't they?

    I'm sorry.

    Bright side: Thank GOODNESS he still has that job.

  4. Yeah, I dread Fridays. I'm waiting for the day that Louis is informed that his project at GM is shut down.

    Thus far we haven't been affected as much as some... although our investment report showed a GINORMOUS loss.

  5. Hi, I found your blog through t.w.i.t.'s blog.

    I have to agree that a lot of Gen Y'ers are ill prepared for the workforce, due to not working during high school and/or college. When I went back to school to get my MBA, I was stuck in classes with a slew of 20-21 year olds fresh out of undergrad. They were afraid to go out into the real world and get a job, so they jumped right into grad school. Most I spoke to had never had any sort of job before EVER. Yet, when you talked to them about their plans after college, they all had high hopes of getting a management position based strictly on the piece of paper they were paying for. Rude awakening! I guess I think those positions take hard work and dedication; you don't get them based on a degree. It seems a lot of Gen Y'ers are being fed false hope...either by their parents who spoiled them or the college admissions office.


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