A story that the Today show ran this week left me scratching my head. Not because of their reporting, which was a very good read, but because of the stories relayed by the interviewees. See, the article looks at the often discussed but still unsolved dour job situation for Millennials. The title says it all: “Gen Y: No jobs, lots of loans, grim future.”
Well, that’s cheery.
Young job seekers who have graduated from college or graduate school are struggling to find work. Some of these new job seekers are struggling not only to find the perfect jobs in their fields, but also to find any jobs that will cover their living expenses. It goes on to talk about the competition between these job seekers and baby boomers who are deferring their retirements.
“A quarter of workers postponed their retirement in the past year, with 33 percent of workers now expecting to retire after 65, according to a retirement survey by The Employment Benefit Research Institute.
“If they do manage to get hired, younger employees are often the first to be fired in layoffs. And when Millennials do land a job, it probably won’t be as lucrative due to intense competition for jobs. That means that this generation’s potential earning power is likely to lag over the course of their careers.”
Millennials are overqualified, from an education perspective. Yet, many of them lack the work experience needed for many positions so they’re not experienced enough. They can’t seem to win.
If you’ll recall, we recently asked you to weigh in on the overqualified debate. And you weighed in with passionate responses. Judging by your comments on that post, it seems that employers are turning away candidates who have too much education or too many years of leadership or just too many years in the workforce. They’re afraid you’ll jump ship the second the economy bounces back. By their logic, a 40-something year-old job seeker with 20 years of experience is a flight risk. Yet, as you readers have also told us, many baby boomers with decades of experience are being edged out by companies who want younger workers who are in tune with technology. But aren’t these younger Gen Y workers considered too inexperienced, as the Today article explains?
Judging by the comments you leave on the Work Buzz, Facebook, and Twitter, you’re frustrated with what you’re hearing from employers. (Or, in some cases, not hearing.) We want to know what feedback you’re getting and whether it’s helpful to you in your job search or if it only confuses you further.