How are millennials coping with the dreary economy?
The 20-something author says most of her Gen Y friends are either underemployed, attending grad school, or interning for free.
At the time, most of my friends were underemployed, interning for free, or watching re-runs of “Reba.” It was relevant.
It’s been almost a year, and I’m still a 20-something who is not married, has no kids and has no retirement plan in sight. Most of my friends are still underemployed, interning, or in grad school.
Like much of the country, I’ve been watching the monthly Bureau of Labor Statistics news releases. The most recent report on July had the unemployment rate at 9.1 percent overall and at 25 percent for teenagers. Things could certainly be better. The most worrisome part about the current unemployment rate is the long-term impact on future earnings of recent graduates.
According to a study done at Yale University by Lisa Kahn, graduates entering the job market during a recession earn less. The study also said that “the labor market consequences of graduating from college in a bad economy are large, negative, and persistent.” Trying to find employment and secure your future can definitely feel like gambling these days.
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