Wednesday, October 22, 2014

Millenial Inequality

Millenials, are graduating and coming of age, during the most unequal time in US history in the past 100 years. Rich millennials are able to rely on parental support (see article) or utilize parental connections. They are able to take internships or pursue medical school. For the debt ridden underemployed majority, it's quite a bit more difficult. That's a bit dramatic, I know!  Not all of us are debt ridden or 'underemployed', but many of us have an employment 'situation'. You know what I mean such as having 'no job security', 'lack of health care', 'little job mobility' and other less than enviable employment woes.

Before, the Boomers chime in with of your generation is 'lazy, self-entitled' blah, blah, bah... Yes, some of us are probably all those things and most young people struggle through the transition of school to job which includes struggling financially for a while.

But the longer that I work and the further I am out from school, the more I feel like their is no clear path up. Wages are stagnating for everyone, except the very tippy top. It's not just me - the Boomers I work with are very disheartened by current economic situation. The relationship between employee and employer has grown exceedingly one-sided. It seems that every company is about it's bottom line. The human component of the current work environment has been all but squashed.

It makes me wonder what's there to come. What should I be looking forward to? Is there a way up for the vast majority of us - the masses that are destined not to excel beyond 'great'. What happens to us - the people that don't live for their job? We all want to enjoy the work we do, but not all of us can come to define our lives by it or be the 'best' at it.

Since wages are stagnating, the cost of starting your own company, writing a book, and pursing creative passions declines. However, the probability it will be successful also declines, since people have less money to spend and are rationing their money very carefully. Our generation might just have to be 'creative' because their are few other possibilities to have job security, wage growth and a chance at retirement exist.

As a kid, we all wanted to grow up and be 'middle class' maybe 'upper middle class', but as time passes being 'rich' seems far more desirable. For me that's enough to identify that something is horribly wrong.


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