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Authors, sign in!The Squeeze is On: Young People and the Recession
By Gennady Kolker on October 12, 2009
"Bright, Eager, and Unwanted" reads a recent Huffington Post headline, referring to BusinessWeek's cover story on how this "Great Recession" is creating a "Lost Generation" of young workers -- the 18% of unemployed 16-24 year olds. And there's no shortage of similarly ominous headlines that highlight the seemingly unending cycle of disturbing trends.
This isn't news to the 7.3 million of young people (under the age of 35) who now navigate through the toughest economic maze since the Great Depression: rampant job insecurity, rapid increases in the cost of higher education, health care and essential livings expenses, sky-rocketing student loan and credit card debt and minimal savings to cushion the blow.
More importantly, government policy has failed to keep pace, branding this generation of young people with the dubious distinction of being the first generation in a century not likely to end up better off than their parents.
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posted by Gennady Kolker on October 12, 2009
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