The current edition of BusinessWeek trumpets a “Lost Generation” of 16-24 year olds – and notes, “The continuing job crisis is hitting young people especially hard—damaging both their future and the economy.” The article talks about the drag on future earnings, as well as the experience of a similarly aged generation of Japanese youth from the 1990’s.
No doubt that the impact of the recession is hard on this group – but is the prognosis true?… Read the rest