No Jobs For College Grads

Unemployment has ravaged almost every part of the global workforce. Yet this financial slump has hurt young adults the most. Those between the ages of 16 and 24 are having the hardest time finding jobs. Even though some dropped out of high school; many are college alumni and have even gone on to earn MBAs and law degrees.

In the U.S. the unemployment rate for 16- to 24-year-olds is now greater than 18 percent. Last year it was 13 percent.This means that nearly one-fifth of young adults don’t have a job. These numbers don’t even calculate how many are underemployed. This displays that not only are American families struggling, but even adolescents can’t find jobs to help their families out.

There is also long-term harm that can be caused if young people are incapable of starting off their careers. These individuals may turn into a “lost generation.” Quite a few studies have revealed that when youth can’t find jobs over an extended period of time it can lead to problems including considerably lower lifetime incomes.

The reasoning behind this is that many people get stuck in the same old job, doing vocations that are below their talents and abilities. This in turn can lead employers to think that they are incompetent or damaged goods. These circumstances will lead to dissatisfied employees even if they have an education because they aren’t meeting their potential.

Another drawback is that many companies aren’t hiring new employees particularly young workers. This means that they are absent from the workplace. Thus, businesses are missing out on new thoughts and concepts that younger generations bring in to refresh the company. American companies are not hiring this generation, which is similar to the trouble Japan faced in the 1990s and present day.

The implications of this problem during the 1990s in Japan has revealed long-term affects on the workplace. Japanese individuals that began their career during the 1990s are responsible for 6 in 10 cases of reported depression, anxiety, and work-related mental disabilities. Because of these circumstances and results, experts judge the same thing will happen to young workers in America. So this problem will affect young workers that are drop outs, college alumni, and those still working on their degrees. Professors are already reporting that their students are uneasy about the market. This fear is affecting college students all over the country including those at top universities like Stanford.

There is so much competition out there for each job. But it seems to make reasonable sense that companies would hire young workers because they’re cheap and get rid of the older expensive workers but companies are not taking risks. They are not hiring or even accepting applications. Another problem is that many companies are looking for extensive experience which newcomers don’t have.

There are thousands of young people that have been unable to find jobs in this economy. There are long-term implications that can harm this “lost generation.” Recession graduates not only suffer from depression and anxiety but usually earn a smaller amount over their working career.

Tagged with: career • college • Job • unemployment • university

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