I am still finding new research on what is happening to our changing job market at Georgetown University’s Center for Education and the Workforce:
Between 1980 and 2012, significant structural economic shifts produced a new postsecondary phase in the labor market entry of young adults, delaying their career launch. Older adults are working longer; however, they are not crowding young adults out of the labor market. In fact, today there are more job openings per young person resulting from retirements than there were in the 1990s.
The report’s major findings are:
In 1980, young adults reached the middle of the wage distribution at age 26; today, they do not reach the same point until age 30. For young African Americans, it has increased from age 25 to 33.
• Young adults’ labor force participation rate has returned to its 1972 level, a decline that started in the late 1980s and has accelerated since 2000.
• Older workers aren’t crowding young adults out of the labor market: there are more job openings created from retirements per young person today than there were in the 1990s
• The 2000s were a lost decade for young adults. Between 2000 and 2012, the employment rate for young fell from 84 percent to 72 percent.
• Opportunities have especially dwindled for young men, high school graduates, and young African Americans.
Many career counselors are seeing these 30 to 40 year olds living at home with their parents until they eventually get full time jobs. However, in order to achieve getting that full time job that can allow them to live on their own, they must often get short term and part time jobs that can eventually build their resume so that they have recency and new accomplishments in their chosen fields. Don’t settle for a job at Home Depot or Target. Rather, try bidding for projects in this new “Gig Economy”.
If you know someone who needs to get some recent experience, refer them to these two websites:
At these types of sites, you can “bid” for projects to complete and build a new portfolio!