Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

LQD: Mileuristas arrive in BusinessWeek

by Metatone Sun Oct 11th, 2009 at 04:54:28 AM EST

Migeru has posted about the Spanish "Mileurista" - an under-employed generation, now BW notices the phenomenon elsewhere too...

The Lost Generation - BusinessWeek

Bright, eager--and unwanted. While unemployment is ravaging just about every part of the global workforce, the most enduring harm is being done to young people who can't grab onto the first rung of the career ladder.

Affected are a range of young people, from high school dropouts, to college grads, to newly minted lawyers and MBAs across the developed world from Britain to Japan. One indication: In the U.S., 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. In Japan, which has been down this road since the early 1990s, workers who started their careers a decade or more ago and are now in their 30s account for 6 in 10 reported cases of depression, stress, and work-related mental disabilities, according to the Japan Productivity Center for Socio-Economic Development.

When today's unemployed finally do get jobs in the recovery, many may be dissatisfied to be slotted below people who worked all along--especially if the newcomers spent their downtime getting more education, says Richard Thompson, vice-president for talent development at Adecco Group North America, which employs more than 300,000 people in temporary positions. Says Thompson: "You're going to have multiple generations fighting for the jobs that are going to come back in the recovery."

European Tribune - LQD: Mileuristas arrive in BusinessWeek
"You're going to have multiple generations fighting for the jobs that are going to come back in the recovery."

Already happening for all jobs. There isn't enough high-productivity well-paid work to go round. And even then "well-paid" has to be seen in the context of cost reduction. Labour is a cost. Human capital is an oxymoron.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Oct 11th, 2009 at 05:43:37 AM EST
Unfortunately, lost generations have long been all too common, for similar reasons, in many countries. Western Europe, and the US and are just getting a fresh taste of this malady after many many years.

I can swear there ain't no heaven but I pray there ain't no hell. _ Blood Sweat & Tears
by Gringo (stargazing camel at aoldotcom) on Sun Oct 11th, 2009 at 07:43:45 PM EST
And now marco:
CHINA: Too Many Graduates, Very Few Jobs - IPS ipsnews.net

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Migeru (migeru at eurotrib dot com) on Thu Oct 22nd, 2009 at 03:57:09 AM EST
[ Parent ]

Go to: [ European Tribune Homepage : Top of page : Top of comments ]