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Young bear brunt of the recession
Only 46% of Americans aged 16-24 had jobs last month, the lowest since the government began counting. Advocates urge action to avoid a 'lost generation.'

Bright, eager -- and unwanted. While unemployment is ravaging just about every part of the global work force, the most enduring harm is being done to young people who can't grab onto the first rung of the career ladder.
So we are indeed turning into Europeans ...
Affected are a range of young people, from high school dropouts, to college grads, to newly minted lawyers and MBAs from Britain to Japan and across the developed world. One indication: In the United States, the unemployment rate for 16- to 24-year-olds has climbed to more than 18%, from 13% a year ago.

For people just starting their careers, the damage may be deep and long-lasting, potentially creating a kind of "lost generation." Studies suggest that an extended period of youthful joblessness can significantly depress lifetime income as people get stuck in jobs that are beneath their capabilities, or come to be seen by employers as damaged goods.

Equally important, employers are likely to suffer from the scarring of a generation. The freshness and vitality young people bring to the workplace is missing. Tomorrow's would-be star employees are on the sidelines, deprived of experience and losing motivation.
Posted by: Throluck Glomble2595 2009-10-18
http://www.rantburg.com/poparticle.php?ID=281285