In the past several articles, we’ve shared results from the study entitled “Failure to Launch: Structural Shift and the New Lost Generation.” This report, authored by Anthony Carnevale, Andrew Hanson and Artem Gulish, presents interesting trends, namely that millennials are coming to the job market later in life, while baby boomers are remaining in the workforce well past what’s considered the “regular” retirement age.
Further examination of the millennial demographic and their job prospects is proving to be an interesting exercise. The “Failure to Launch” researchers point out that, during the 1990s, the future looked very promising, thanks to a low unemployment rate, growing workers’ earnings and increased educational opportunities (especially for young women). Then came the one-two economic punch of the dot-com bust during the late 1990s and early 2000s, and the explosion of the housing bubble, in tandem with the Great Recession and the horrific financial aftermath beginning in 2007.
Read more...Millennials: The Struggle to Earn a Living