Record Youth Unemployment, Older Employees and Taking Care of Business

73 million young people are expected to be out of work world-wide by the end of the-is year, 2013. However, according to New York Times Economist/Writer David Leonhardt, New England is gaining ground on youth unemployment due to higher education and a larger number of bachelor degrees acquired in the region. Debt from college loans and doubts about job opportunities are weighing heavily on this particular age group. Employers are pretty reluctant to hire new workers and this is hitting the youngest and oldest workers in our current economy the hardest.

Student debt from expensive tuition impacts families and the generations inside a family structure. This impacts the economy & housing profoundly. Student loan debt is more than 1 Trillion dollars right now and that debt is held by 38 million Americans. -According to the AP Consumer Financial Protection Bureau

The traditional 3 act arc is over – your degree may not be realistic – the distribution of wealth across society, generations and over time can certainly be more balanced.

• Working professionals in their mid life are increasingly entrepreneurial “on the side.” Motivated by wishing for a change of career during retirement, motivated by lack of employment security and needing something to fall back on, fear that their young adults will not be able to make the transition to the adult work world and rhythms of adult life due to debt, maturity or discouraging employment opportunities. These folks are also often caring for multiple generations of their families both older and younger.

• Young people – some may want to invent their own way to transition into independence and entrepreneurial success. These folks know it is easier than ever to begin Start-Up’s. Today it is easier than ever to start a business, but harder than ever to SUSTAIN a business.

• Older members of the work force can often be an overlooked resource in local business & companies. Often these members of society provide for multiple generations by helping younger family members with post college housing, debt management, and extended family caregivers.

Reason, analyze and write: How do these skills connect to workplace business needs?

What are the advantages of hiring from various age groups in the work force?

How have employment opportunities changed in 2013 for young, middle and older generations?

How can using Outsource Services like us at FYI help with business development for each generation’s various entrepreneurial efforts?

Does investing in large and mid-size business, infrastructures, human resources, web development, company culture, finances, networks and empowering Youth and Older Members of our workforce  really improve the way America functions, the economy and entrepreneurial sustainability?

The great thing about being an entrepreneur is that you are responsible for your own success.  The scary thing about being an  entrepreneur is that you are responsible for your own success.  We will  be discussing the advantages and pitfalls and how to find the balance you need to succeed. Tune in LIVE and join the discussion on Tuesday at 3pm at WTER when we will be discussing these issues and opportunities.

Blog Post & Graphics by Cathi Bosco