Skip to comments.The Millennial Job Deficit
Posted on 12/27/2016 4:32:43 AM PST by expat_panama
Jobs: While economists, the administration and the Fed all trumpet "near full employment," a stark reality intrudes: Most of the jobs created in the last decade have been temp or gig jobs, not permanent full-time work. It's a huge problem.
From 2005 to 2015, fully 94% of the 10 million net new jobs were either temporary or contract gigs, says a new study by economists Lawrence Katz of Harvard University and Alan Krueger at Princeton University. The share of Americans mostly Millennials now doing what the study's authors call "alternative work" has risen from 10.7% to 15.8%.
That wouldn't be so bad if it was what workers wanted. But that's not the case.
"A large majority of temporary help agency employees on temporary jobs would prefer a permanent job and almost half of on-call workers would prefer a job with regularly scheduled hours...
...the challenge of the coming decade to re-skill and retrain younger workers so that they can find better, higher paying jobs and move out of their mom and dad's house and into their own digs. The millennials are a troubled generation, it's true. But they're not lazy. Nor are they slackers. They're just bearing the brunt of decades of failed economic policies that have cut U.S. economic growth from 3%-plus to below 2%, and caused family incomes to stagnate.
As a start, let's hope the new administration will cut taxes and roll back unnecessary regulations upon entering office. That at least would be a down payment on both rebuilding the economy and moving younger workers off their parents' couches and into high-paying jobs.
(Excerpt) Read more at investors.com ...
I know, let’s bring in millions of immigrants, turn the other-eye vs. illegal aliens (untold millions of un-skilled/educated)....then cry a river about the ‘cost’ of XYZ (job market, ‘skools’, h-care, rise in crime, wages, etc.).
Getting a strike on the lane 3 over is still missing the mark...
Millenials who prepared themselves for the world of work are doing fine. Many have well-paid jobs and are advancing rapidly. With the retirement of the baby boomer generation, there are many openings, and employers are looking for skilled employees. If you’re trained to do the work, they’re eager to hire you.
There are good jobs for millennials in larger cities. Not so many in smaller and medium size cities. The cream of the crop will get good jobs in any market but - let’s face it - the average person’s IQ is 100. The one’s you are talking about will have IQs of ~120 on average or higher. Before globalism, even those with IQs of 100 (or even lower) could do very well. Much, much harder today - especially since so many of them grew up believing they were special snowflakes (fortunately, my parents did not raise me that way & I was blessed with a well above average IQ).
Part of the problem is indeed due to immigration. But another culprit is government attempts to jack up wage rates, which discourage hiring and incentivise employers to be fussier than usual about who they keep on the payroll.
Depends on the type of work. Those working in agriculture and forestry are necessarily out in the country. And even the most remote areas need nurses, doctors, and teachers.
This will not change until Obamacare is repealed.
Again - nurses and especially doctors are going to be above average IQs - those people will do well whatever their profession in most cities with hard work - and I’d certainly hope teachers would be at least slightly above average and most teaching jobs require a college degree. What are you going to do with the other 65% of the country?
All these types of jobs are necessary though to employ all the women’s studies majors.
Well they voted for a guy who put them in an 8 year recession. Tons of lost time in their careers, time which should have been spent getting real business experience and knowledge of the real world.
Millenials who prepared themselves for the world of work are doing fine. Many have well-paid jobs and are advancing rapidly
^^^^^ This. Both my sons have more work than they know what to do with. Of course one is just out of college with a degree in electrical engineering and the other one is a second year digital manufacturing student. The younger one just got picked up by a fortune 100 company as an intern making good money and tuition re imbursement while he studies. Thankfully most millennials don’t have a clue , so my kids have far less competition.
Re-skill and retrain for jobs that do not exist.
This is the neo-con economist speaking.
The stupid are running our nation. lol
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