Are we on the verge of a generational jobs crisis?

X ^ | 16 Aug | KobeissiLetter

[RandFan]

@KobeissiLetter

Are we on the verge of a generational jobs crisis?

The 3-month average youth underemployment rate jumped to 17% in July, the highest since 2020.

This metric includes unemployed individuals aged 16–24.

Now, the youth underemployment rate has climbed by ~5 percentage points over the last 2 years.

This is nearly in line with the peak during the 2001 recession and the early stages of the 2008 Financial Crisis.

This also signals the US labor market could weaken further, with young workers typically the first to feel the impact when the economy turns.

The job market is rapidly deteriorating.

[ridesthemiles]

WHEN YOU HAVE BEEN RAISED WITH “PARTICIPATION TROPHIES”======

WHEN YOU SHOW UP FOR A JOB INTERVIEW WITH YOUR MOTHER=====

YOU ARE NOT EMPLOYABLE.

[Myrddin]

I worked at the Chula Vista Farrell's at 5th & H St. I never ran a zoo. The bus boys did that. I worked up from dishwasher to cook to fountain then waiter. Fountain had the best hourly at $1.65. Waiter was $1.30 plus tips split with the bus staff.

[Fledermaus]

Duh. A lot of “youts” work part time. And school is starting.

[Myrddin]

When I was in High School, if you didn’t have a job, you were looked upon as a loser.

My home was rather frugal. Any spending money for my use was care of the garden tools and work done for neighbors. Lawn mowing, leaf raking, snow shoveling, car washing. Using the household tools was contingent on doing my chores at home first. In high school I worked at Farrell's to pay for my class ring, class year book and prom expenses. My single regret at the job was my boss would not give me the day off to participate in the "Flight of Eagles" sponsored by PSA for Eagle scouts. Looking back, I spent plenty of time flying all over the world for business, so it wasn't a big deal.

[Myrddin]

I still think jobs statistics should reflect how people are living. Very few people under 18 are supporting themselves with their jobs.

Schools behave differently now. I had access to Summer school every year to earn credit to graduate early. Public schools today produce a substandard result. Access to a private school or a very high level of personal drive to succeed is necessary to overcome the low standards of performance. My youngest son had friends who succeeded as a teacher, a process control engineer and a pharmacist. He played in a band with all 3 of them. He decided to drop out of school. Today he manages a Valvoline shop. It's honest work, but he could have done better. He pays his bills and takes care of his family.

When I moved to the Pocatello area in 2000, I met some of the kids that were high school and college age. Many were pursuing degrees, but understood that they had to leave the Pocatello area to get a decent paying job. There isn't much work in the area that pays well if you're not in healthcare or working on nuclear physics tasks at the INL site.

[Big Red Badger]

Can’t remember the Pay as I was going in the Air Force for Ground Radio Repair.
That served me well till I retired
2 yrs ago.
Fun Times,but now I’m old and grumpy.

[Myrddin]

I just retired this year at age 68. Old and grumpy is Ok. My wife and dogs tolerate me. I get to celebrate another birthday in a couple of weeks.

[central_va]

You should join the democrats because they hate the working class too.

[central_va]

Capitalism and globalism cannot work together. This is why open Communists are running for office. Corp American sold us out now we may have to suffer 50 years of Communism.

[Drew68]

What about all the H1Bers! They’re not needed

Jobs.Now: Exposing hidden jobs for Americans! @JobsNowPR

This is an account on X (with a website) making it their mission to expose the "hidden" jobs that aren't advertised because they're being set aside for H1B'ers.

They have to hide these jobs because, by law, H1Bs are only allowed to be used to fill jobs that Americans are not applying for. So this website is exposing these jobs and encouraging American citizens to apply for them.

And boy howdy, are the Indians pissed!

[reardensteel]

AI.

[RandFan]

That’s a great development. I know that tech workers account has been going for YEARS exposing that scheme and now with AI these applicants are f**ked.

I heard many graduates from India are unemployable now and prospects look bleak. For US tech workers their experience will count in the field generally. (Name your salary at many top firms if you’re a senior developer ...).

If trying to get into that field I think US students need to pick wisely what they major in or pursue a TRADE as many have said. Big changes now and AI in 3-4 years will be even smarter! Crazy times.