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Sucks To Be Us

The Bureau of Labor and Statistics reported today that job losses have been disproportionately suffered by Generation Y.

"For workers under 29, the unemployment rate jumped to more than 11 percent in December, compared with under 9 percent a year ago, according to Labor Department figures. That is far worse than the overall rate of 7.2 percent, up from 4.9 percent a year ago. The rate for teenage workers, from 16-19, is far worse -- approaching 20 percent. For workers in their 30s and older, the rate is still under 7 percent, and generally declines as workers get older."

I'm not surprised. Experience pays dividends when an employer is forced to think short-term and remain short-handed.

Aside: Can someone PLEASE come up with a better term than "Generation Y"?!?!

Full post as published by Nuts & Boalts on January 16, 2009 (boomark / email).