“Generation Wait”
It’s not about waiting on purpose.
There seems to be this notion with older folks, parental types, media sources that the generation coming out of college these days (X, Y, Millenials, what have you) are just waiting around to get their life started. Phrases like “lazy,” “unfocused,” “lackadaisical,” etc. get thrown around pointed toward these individuals. The generation stays home to save money instead of moving away to a new city like they did years ago. This isn’t necessarily the case.
Let’s journey back a bit and tell a story through examples. Mom and Pop tell little Jimmy that he should go pursue college, because while they were growing up it helped them out tremendously in the job market, and the experience of college was a valuable life experience and transition. Jimmy goes to college, while racking up thousands more than Mom and Pop ever would have thought when they attended University. The ‘college experience’ was a fallacy because Jimmy had to work full-time or a couple part-time gigs (or in some instances, a full-time job, part-time/weekend gig, and a full college load) all throughout college and take night/weekend classes whenever possible.
It’s a damn good thing college was pursued though because every single job listing Jimmy finds requires a degree. $30-40k of student debt is on the horizon and awaiting to be paid off after a 6 month grace period.
Jimmy has got to find a job, and fast. Hopefully/ideally doing something within the field his degree was focused on. Unfortunately, there doesn’t seem to be a whole lot in the town Jimmy lives in, so he’s going to start looking elsewhere for opportunities. Something, anything, remotely in his degree field and in a place where he can afford to live.
Jimmy finds many opportunities out there! Except, they all start with “5 years experience necessary” and end with “local residents only.” Jimmy still hopes he has a shot and applies for all of the places he can find anywhere on the map, and has to find an address to use to fulfill residency requirements. 100 résumés and a couple months later, Jimmy hasn’t received a single call or email and the bar-tending gig is keeping him afloat but without the ability to save up money to even attempt to move somewhere without the capital to stay afloat. Because Jimmy is keeping his bar-tending job, there will also be a trickle down effect for new college students looking for a part-time gig. (more on this later)
The onslaught of economic catastrophes covered in the media paired with the lessons learned from Mom and Pop’s financial woes leaves this generation hesitant to take deep plunges. The job marketplace is often saturated with people just like Jimmy hoping they can get a foot in the door and the unpaid internship is too often an empty casket for your wallet.
Production has risen and wages have stagnated. Companies can get away with underemployment because there’s a whole generation of young adults out there that will take what they can get. People are working longer at their jobs instead of retiring, further delaying a young adult’s career. Some people take the extra risk and decide to go back to school to pursue a Master’s degree hoping that by the time they graduate the job marketplace will have gotten better.
This “generation wait” term is a load of crap. Young adults would love nothing more than the ability to own a home, financial security to start a family, enjoy a vacation, and the fairytale story of the “American Dream” our grandparents raved about after stepping on Ellis Island.
Email me when Wade Fasano publishes or recommends stories