Employment Outlook Grim for Class of 2011

Members of the class of 2011 are not doing fine, will not be doing fine when they receive their degrees, and will likely face depressed wages for the rest of their professional lives. Regarding the latter, generations who take entry-level jobs in downturns are usually doomed to long-term constraints on compensation.

Two the members of the Class of 2011 share their despair on Baselinescenario.com. They are Mark Paul and Anastasia Wilson. Of course, this published commentary, which already has attracted 133 comments, could actually lead to jobs.

Making a job, rather than wasting their time looking for one, is the only way the lion's share of Generation Y will earn a living.

As Paul and Wilson point out, unemployment in their age bracket stands at 24.7 percent. Student loan debt averages about $23,200. And their generation inherits the financial responsibility for keeping Medicare and Social Security going.

In addition to creating jobs for themselves, something Scott Gerber hammers into Generation Y, here are some other tips for surviving, then thriving:

  • Return to communal living. Not only is the old boarding house type of lodging cheap, it produces a useful network. Patti Smith hung her hat at the Chelsea Hotel. The rest is history.
  • Be 100 percent opportunistic. It's a waste of your youth trying to find a fit in the marketplace for your major. Does your neighborhood need a hot dog stand? Soon enough you could be commanding a franchise of them throughout your city.
  • Make a buck off the pain. Creatives like Ivana Lowell always understood how marketable pain is, if you can frame it as a compelling experience. Lowell's book, 'Why Not Say What Happened?,' about unusual suffering was reviewed last Sunday in The New York Times. What about a documentary about getting the rug pulled from under you?

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Dan

I'm middle aged and just earned my degree in Accounting. I've been trying since August to secure employment and I'm constantly told that they are looking for people with more experience. Can someone please tell me how to get experience so I can get a job? Internships, entry level, volunteer work, nothing seems to be working! Good luck to those out there looking for a job, it's difficult, especially for recent grads.

November 27 2010 at 4:08 PM Report abuse rate up rate down Reply
Chris Pendleton

Everything you said is true, Maria. But there are old fashioned ways
around your troubles that have been used before.

Join the military before entering on your Masters program. In three
years you will have enough money for the Masters and, if you save,
enough to pay off your current student loan. You will also have
earned a type of education few people are fortunate enough to receive.

Take an intern position (perhaps out of your field initially) for
little or even no pay at first. These often turn into full time
positions where your employer may assist you in getting that Masters.

I did both to get my degrees.

Keep an optimistic attitude. Yours is not the first generation to
have a tough time in the job market.

Good luck! Chris

November 27 2010 at 2:40 PM Report abuse rate up rate down Reply
James Whitehead

I am a 32 year old house painter who went back to school 6 and a half years ago. I wanted to earn a degree, thinking that I would improve the life of myself and my family. I am now a grad student with a BS in criminal justice. I am in grad school because I can not get a job and I can't afford to pay back the student loans right now. Now I am just acquiring more and more debt. I am set to earn my MS in 2012, but I don't know if there will be anything out there as our economy continues to take a turn for the worst. I bought in to the "American Dream" and so far, I have only a certificate framed on my wall.

November 27 2010 at 2:20 PM Report abuse rate up rate down Reply
George Ferenzi

I agree they all wanted the same thing and now they including me are going
to suck social security dry.

Don't blame us blame the parents of the baby boomers for having so many kids.

November 27 2010 at 1:24 PM Report abuse rate up rate down Reply
George Ferenzi

Too many people with too many degrees not worth the money it cost to get
the degree and then waste more money on a Masters.

November 27 2010 at 1:17 PM Report abuse rate up rate down Reply
Yon

A US college education is not a marketable item. Most of the top salaries are given to people with NO formal eddy-cayshun. Most of the top earners have no larnin'. You might do fine with a PhD but you'll spend years paying it off. Go out and try your luck at playing ball, singing, acting or just plain lying your way up into polititics. The masses fall for the impression you give.

November 27 2010 at 1:07 PM Report abuse rate up rate down Reply
highwind7

Thank you baby boomers. Thanks for destroying my life before it ever had a fair chance. Thanks you greedy yuppies.

November 27 2010 at 1:06 PM Report abuse rate up rate down Reply
1 reply to highwind7's comment
kevin

You do realize that every generation says that about their parents. Boomers used to say "never trust anyone over 30 yrs old."

November 27 2010 at 3:00 PM Report abuse rate up rate down Reply
Mary

I agree that an education is a good thing and much need all though life. But it does not mean that one has to go to borrow money and go to collage for years. American's need grants to go into business for themselfs, our goverment gives grants to many for there own business, but not the American people. Our goverment needs to stop paying out our money to the handi capped people, the handi cap is they do not speak good english. These people need to go to the american school and learn ENGLISH, yet they are set up in business and has worker not speaking english well, they work and yet each person in those families get a S.S. check, out of our S.S. office. I personly know a family of four, children each get a U.S. S.S. disabilty chech, the mother gets a U.S. S.S. check, she works some, and the dad works full time, and he gets a disable S.S. check. None of these have never paid into S.S. Now this Man has an aunt in Mexico, she lives in Mexico, she is his dependent, and a S.S. check is sent to her in Mexico, his persons mother in Mexico gets a check and so does his sister, that lives in Mexico. This is not the only family that has it so good, I seen 9 Mexican men sign up for S.S. disabilty in Blue Ridge Ga. the same day, they all work in a resturant every day. And I checked it out, I ask questions at the S.S. office, and was told the law as for each one to get the checks. Ask questions at your S.S. office, don't call a lier until you do. Prove all things.

November 27 2010 at 12:22 PM Report abuse rate up rate down Reply
1 reply to Mary's comment
Ray

Well said Mary and you are exactly correct! My mother had a stroke at 61, has no use of her right arm and cannot drive. She was working full time but now cannot work. My mother did not qualify for SS disability benefits and had to wait until she was 65 to collect. Meanwhile illegals and able bodied workers collect and then work side jobs. I know of a 21 year old college age kid that collected SS disability after being fired from 2 jobs because of a poor attitude. His excuse? And I quote, "Why should I work for min for some jerk, when I can get paid more to do nothing, besides my eyesight is really bad." Along with his disability SS he also qualified for medical marijuana...go figure?!

November 27 2010 at 12:53 PM Report abuse rate up rate down Reply
chuck

Maybe they need to move to India or China, they seem to be getting all of the jobs these days since corporate America's greed has them leaving the country in droves. I hope you remember that while shopping this holiday season, these companies will understand how much you appreciate them when you pass on buying their junk for your friends and relatives.

November 27 2010 at 12:14 PM Report abuse rate up rate down Reply
robtheblogger8

Forget college!!! When your good paying job is being shipped overseas for the cheap labor, your diploma is only good for wiping your butt. The only way things are going to turn around is to start boycotting chinese goods and force the flow of money back into america where it belongs. This will in turn create more jobs.

November 27 2010 at 11:38 AM Report abuse rate up rate down Reply

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