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 ... |
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.