A new term professional economists now use to describe us: The Lost Generation.Stinson wrote:Hey bro, I hear BIGFED is going to be hiring MASSIVELY once the whole shutdown / debt ceiling debacle / limping from self-imposed crisis to self-imposed crisis / perpetual political lockdown caused by ruinously gerrymandered electoral districts / likely decades of economic malaise thing passes.BarbellDreams wrote:Literally laughed out loud at this. You truly are clueless about the state of the legal market friend.NotMyRealName09 wrote:
This recurring story, people tell this story as if we should feel bad, or that they system sucks. No one said you have to throw away your life to practice law. I'm sorry but if you work a job where keeping a wife is known to be difficult, what does it say about you that you CHOSE TO WORK THERE ANYWAYS. If you can land a job paying $160k, you can land one making $100k and have a family. It just doesn't make sense to me, or at least, I guess the type of people who want biglaw are the type of people for whom success in career outweighs contentment of soul.
Hei Guiz...we're the "lost generation." How does it feel?
edit: Here's a fuller picture of things from the WSJ.
WSJ wrote:Mr. Wetherell is a member of a lost generation, a group that is only now beginning to gain attention of many economists and employment experts...
[T]he recovery has left many young people behind. The official unemployment rate for Americans under age 25 was 15.6% in August, down from a peak of nearly 20% in 2010 but still more than 2½ times the rate for those 25 and older—a gap that has widened during the recovery. Moreover, the unemployment rate ignores the hundreds of thousands of young people who have taken shelter from the weak job market by going to college, enrolling in training programs or otherwise sitting on the sidelines. Add them back in, and the unemployment rate for Americans under 25 would be over 20%.
Even those lucky enough to be employed are often struggling. Little more than half are working full time—compared with about 80% of the population at large—and 12% earn minimum wage or less. The median weekly wage for young workers has fallen more than 5% since 2007, after adjusting for inflation; for those 25 and older, wages have stayed roughly flat.
This generation's struggles have few historical precedents, at least in the U.S.