Economy toughest on young adults, study finds

[ellisonz]

Difficulties are shaping their decisions about careers, schooling, marriage and parenthood.
By Rebecca Trounson, Los Angeles Times
February 9, 2012

As the nation climbs slowly out of the Great Recession, young adults appear to be having the toughest time of any age group gaining a foothold in the recovering economy. Those difficulties, in turn, are shaping their decisions about careers, schooling, marriage and parenthood, according to a new report.

The analysis by the Pew Research Center, released Thursday, examines the effects of the recession on the lives and attitudes of young Americans ages 18 to 34.

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Nearly half say that in recent years they've taken a job they didn't really want, to pay the bills. More than a third have gone back to school because of the poor economy. About a third have postponed either their plans to get married or have a child, and one in four say they have moved back in with their parents after living independently. And fewer than half of young people who are now employed say they have the education and training necessary to get ahead in their jobs.

With government economic data showing a record gap in employment levels between the young and all working-age adults, the Pew survey found that 41% of Americans believe that young adults have been hit harder by the recession than other age groups, while 29% said middle-aged adults have had the toughest time, and 24% said those 65 and older have had the worst of it.

More: http://www.latimes.com/news/local/la-me-young-recession-20120209,0,5245256.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+latimes%2Fmostviewed+%28L.A.+Times+-+Most+Viewed+Stories%29

My question to you: how have you seen the Great Recession impacting younger people's lives?

[peace13]

1. Yes.

My son and his friends age 27. These young peolple have college degrees and when they do find jobs they are in the high twenties to low thirties. You can not pay back a college loan and live on your own at that price. He has changed jobs once since college to take a job that was really in his field of interest. That was two years ago and he had to take a salary decrease and move out of state to do that. Just this month he made a stand at work and told them that they were not paying him a wage that he could afford to live on. They finally bellied up to the bar and gave him a raise.

At Christmas he interviewed with a company while he was 'home'. He had had preliminary phone interviews and submitted writting examples before this 'in person' interview. He drove 220 miles round trip for the interview. They advertised a starting salary and stated in the phone interview that it could be more, depending on experience and qualifications. There would be a set bonus for moving expenses but not a reimbursement of all expenses. When he went to interview all went well. Four days later her was emailed with an offer of the originally posted salary with no moving expenses. He was totally disgusted as his field of expertise and experience is not enty level. He was not even going to respond but in the effort to 'burn no bridges' he did call and tell them that he needed more in order to make the move. They came up two thousand and added 800 for moving. The total offer was still in the low thirties.

Long story short my son is trying to have a career not a job and that is hard to come by these days. The result of all of this was that he gathered his thoughts and went into his boss and put it all on the line. They did come up with a meeting of the minds but it was back and forth for over a week. He has had great annual reviews and positive comments from the CEO and was on the Deans' List every quarter in college. He had to fight for every penny while the folks who have been there for years continue to keep their high salaries. They start the young people out at low money and use the economy as a reason not to give them a living wage all while keeping the bloated salaries at the top.

The starting salaries stay low as the cost of fuel, food and insurance rise. It is a never ending battle for these young people.

Edited to add that I know he is lucky to have a job but don't tell him that. He does not want to hear it. We have told him that and reminded him that you never leave a job before you have another one. Hard words to hear when you feel like you are being taken advantage of.

[peace13]

3. kick for the young people

[ellisonz]

6. Thank you for posting. n/t

[Starry Messenger]

2. k&r

[cally]

4. Yes! I've seen so many young people come out f college, good colleges, with

good degrees and cannot find work. We have hired someone with an Economics degree as a part-time administrative aide. She is happy for the work but it seems so unfair. She is bright, talented, a hard worker but can't find work. I know of others who have no job and high debts.

Our generation has abandoned our younger generation by saddling them with high debts and then we are proceeding to cut future government benefits for them. I'm very angry.

[Nikia]

5. I am on Linkedin and part of my college alma mater's group

I have noticed many 2011 alumni who either don't have jobs or who are working as servers at restaurants or cleaners at nursing homes. Unlike myself, graduating in 2000, they usually have internship experience and have done research. Still, they are looking for a career related job.
I have been out of work for 2 months and have been looking. It is amazing how much education and experience is required for a $12-$15/hour job.

[peace13]

7. Yes, they have intentionally driven the pay down while expecting to hire qualified people.

I don't know how this group will maintain a work ethic with the current situation. In the 70's the pay wasn't great but you could find another job if you needed to. Today there is no gaurentee of anything.

I wish you well and hope that something comes your way soon. Peace, kim

[Dawson Leery]

10. kick

[ellisonz]

9. I see similar things...

...as a 2009 alum. One thing that's really crushing is the lack of entry-level career positions. This forces those with college degrees to compete in the blue-collar and service industry labor markets. I often see ads that for a dishwashing or bussing job in a restaurant want 2+ years of experience. $12-15 an hour is if you're lucky.

[gkhouston]

11. "Entry level" used to mean entry level. I see "entry level" ads wanting 5 years of experience. n/t

[peace13]

12. Bingo! n/t

[hughee99]

8. Nearly half say that in recent years they've taken a job they didn't really want, to pay the bills.

I think that describes a lot more people than just 18-34 year olds in the current economy.

[Initech]

13. Cost of living: $12/hr will not get you an apartment in So Cal.