Essay: The Lost Generation

The article "The Lost generation" provides a glimpse into the difficult world of young people trying to land a job during a recession. The article states that companies are less likely to take risks during recessions. It also explains how employers will suffer the same, if not more than the young people trying to find jobs. Although there is a severe lack of young people in the workplace, there are ways around unemployment for many young people.

When one thinks about the situation from a business perspective, it might make sense to hire younger workers who are much cheaper to employ than older workers. However, this is not the case. During the recent depression, employers have stuck with their trusted, older workers as they are less willing to take risks on younger, unexperienced job seekers. Many employers are even hesitant to look at any resumes, making it very tough for any young person to find a job.

Young job hunters are not the only ones suffering from the lack of youth in today's workplace. Without the energy and freshness that many young people bring to the work environment, employers may be hurting just as much. Tomorrow's leaders are stuck in unemployment, not gaining the experience they need to succeed in the business world. When younger people finally do get jobs, many will be dissatisfied with being placed below employees who worked all along, leading to a decline in lifetime income. In fact, a study completed at Yale University showed that even fifteen years out of school, recession graduates earned 2.5% less than employees who had begun working in more thriving times.

Despite being stuck in a jobless market, there are ways to avoid years of unemployment for young people. The amount of people enrolling at community colleges is astronomical. Also, many students plan to start their own businesses. Companies are encouraged to hire young employees even during layoffs through programs established by the government offering tax credits for each new hire.

I believe the unemployment crisis involving young workers will have a very long-lasting impact on the world. In the United States, it will have massive implications on the Social Security system. Older workers are expecting to retire, while counting on the young workforce to fund their retirement. If younger people keep taking lower jobs for less money it means lower taxes for Social Security and Medicare. Taking the lower paid jobs will not only lead to a lack of income, but also may lead to feelings of depression. As youth unemployment continues to rise, young people must find ways to create opportunities for themselves and avoid damaging their future and the economy.