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American Dream Fades for Generation Y

Snip from Bloomberg: Generation Y professionals entering the workforce are finding careers that once were gateways to high pay and upwardly mobile lives turning into detours and dead ends. Average incomes for individuals ages 25 to 34 have fallen 8 percent, double the adult population’s total drop, since the recession began in December 2007. Their unemployment rate remains stuck one-half to 1 percentage point above the national figure.

Three and a half years after the worst recession since the Great Depression, the earnings and employment gap between those in the under-35 population and their parents and grandparents threatens to unravel the American dream of each generation doing better than the last. The nation’s younger workers have benefited least from an economic recovery that has been the most uneven in recent history.

‘Permanently Depressed’

“This generation will be permanently depressed and will be on a lower path of income for probably all of their life -- and at least the next 10 years,” says Rutgers professor Cliff Zukin, a senior research fellow at the university’s John J. Heldrich Center for Workforce Development.

Professionals who start out in jobs other than their first choice tend to stay on the alternative path, earning less than they would have otherwise while becoming less likely to start over again later in preferred fields, Zukin says.

Full story at Bloomberg:



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White males under 40 years

White males under 40 years old - There is NOTHING here for you in this country!! NOthing except debt and taxes to support the FILTHY GENERATION.

What can you do except turn to the black or gray markets??
This is not legal advice.

The best bit of advice I can

The best bit of advice I can give today's people trying to enter the work force... Don't look for a job. Write your own career by doing something you love and in turn can be the best in the world doing it.

Velveeta, are you a reader of

Velveeta, are you a reader of James Altucher? That sounds like advice I have read before on his blog, Jamesaltucher.com. I discovered it from links on LewRockwell.com and EconomicPolicyJournal.com. I am a big fan and I recommend it to anyone with an entrepreneurial spirit or interested in developing the skills to become one.

I know his name, but not much

I know his name, but not much else. My advice comes from living my life and realizing how much of everything I took as "truth" growing up turned out to be someone's opinion. Also, understanding that self-interest is the only constant helps to navigate our world and our individual reality.