"You can't reach for the stars at this point."
August 14, 2011 10:51 AM Subscribe
Generation Vexed: Young Americans rein in their dreams.
posted by VikingSword (219 comments total)
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'Amid so much economic uncertainty, many are rethinking career plans, putting off marriage and avoiding the stock market like the plague.' 'Fewer than half of Americans believe that the current generation will have a better life than the last, according to a Gallup poll this spring. It was the most pessimistic showing for that barometer in nearly three decades. Another poll, of Americans ages 18 to 29, found that three-quarters of them expect to delay a major life change or purchase because of economic factors.'
'Since mid-2008, unemployment in the 16-to-24 age group has been 13% and higher, according to the Bureau of Labor Statistics. Last month, it stood at 17.4%.
Dim job prospects have taken some of the sheen off advanced degrees.
Anthony Wong, a business major at Palm Beach State College in Florida, said his peers are debating whether to finish school. They complain that an expensive degree saddled with loans no longer guarantees a good salary or even employment.
"I think it'll be harder for us to buy homes or apartments or cars — those big life purchases — down the line," said Wong, 26.'