Job Stats for Millennials

Gen Y Finds it Hard to Get a Job

Unemployment is a common problem that is evident in different countries all over the world. Increased number of individuals cannot find a job and this scenario is attributed to various reasons. The highest unemployment rate usually covers the niche of newly grads. In United States alone, about 53% of individuals who have graduated recently are unemployed. The average length of the period of unemployment in the US is six months.

Many college graduates are in $25,000 debt and to sum it up, the total amount of student loan is more than trillion dollars. Underemployment happens because applicants are said to be over qualified for the job they are applying for. It was found out that Generation Y or individuals who are born in the 80’s and 90’s are the ones experiencing gloomy job scenarios. According to some analyst, recession has something to do with poor unemployment in the country. There are actually other reasons why individuals cannot find jobs and these reasons are as follows:

Overqualified
63% of Generation Y applicants are overqualified for the job because most of them are degree holder.

Competition
Some workers are delaying their retirement so as a result, newly grads are faced with tight competition with the older and experienced workers.

Location
US Census Bureau states that about 40% of Generation Y applicants are less likely to relocate or move to a new place to look for job vacancies.

Social Media Addiction
Based on statistical data presented by Cisco, 56% of Gen Y will not accept jobs offered by companies that prohibits social media.

Overconfident
Parents of Gen Y have raised their children having sense of power and entitlement.

Upon learning the reasons why Gen Y cannot find a job, individuals might think what is really in store for these individuals. It was determined in 2012 that most of them prefer to work in smaller companies. About 47% of Generation Y is working on companies with less than a hundred of employees. College students are said to be more entrepreneurial than any other niche. In fact, these students are 1.82 times more possible to major business or Entrepreneurial courses. Since, Gen Ys are tech savvy, they can take advantage of online opportunities. These are idea for them because they excel in social media and modern technology.

When speaking of applying for a job, there are also essential reminders that individuals should keep in mind. This thing is actually applicable to all not just for Gen Y. Job interviews are always part of the job hunting process and your actuations and behavior create impact to your application. There are things that individuals should and should not do during job interviews. Avoid wearing inappropriate outfit during interviews. Some says that it is better to overdress during interviews rather than being underdressed. If you got visible tattoos better conceal them with long sleeves. There are things that can make you stand out during job application. This includes sufficient knowledge about the company. You can acquire this knowledge by researching and reading about the company before the interview. Focus on the interviewer and raise questions with respect.