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Unemployment. Have you ever actually tried to wrap your head around the concept?
I'm no economist, but as an observer, it seems pretty ridiculous that there are people who want to work and can't. Meanwhile, there are unfilled jobs that the nation's unemployed ranks do not have the skills for.
Furthermore, those who do work often are in jobs ill-suited for them. The workforce is a giant puzzle that doesn't actually fit together.
A large portion of the random pieces are young people. For instance, while the nation's unemployment rate is just shy of 10%, it's more than 18% for 16- to 24-year-olds.
I just finished reading BusinessWeek's cover story about "The Lost Generation," which examined the recession's impact on young workers. (Also check out the podcast interview with Peter Coy, who wrote the piece.) On a global scale, young people are hit especially hard by the economic downturn. We often think, "Oh, they can just live with their parents," and many of them do. The problem is, young people who can't find jobs or take jobs they are overqualified for have trouble getting back on track, and it can have long-lasting effects.
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Comments
10.12.09
This is a great concept. I have to read the BusinessWeek article, although I have encountered a similar scenario. Intelligent and skilled people sit idle, while many are also in jobs that they despise (myself included!)
Young people definitely are faced with a great hardship, because not only are they having trouble finding jobs, but are faced with the daily reminder that these jobs will not earn them a pension, give them security, or be what they are looking for in their careers in the first place.
Great post!
10.12.09
Well said!
Young people who can't find jobs or are compelled to stay in positions which don't contribute to their professional development will certainly find it challenging to try to get back on track later. And the "long-lasting effects" you mentioned aren't just for them but will trickle down to the next set(s) of new graduates while the job market struggles to absorb all the new talent and re-absorb the highly skilled and experienced workers.
10.14.09
I'm so glad this post resonated with you both. I am going to try not to get too depressed about it, and instead hope it motivates all of us to work harder.
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