Tuesday, January 20, 2009

The 44th President, Birth Rate, and Generation Y Job Seekers

As many of you watch the Presidential Inauguration today and wonder how the next four years of your life are going to be like. Sure this country is down right now, but hopefully with change comes a new beginning on our current situation. I am sure that a lot people could use a fresh start.

An article came out last week dealing with the current economic situation and its effects on people starting a family. With the current economic crisis many people feel that this not the right time to start a family or have another child. According to the American Psychological Association, the economy is the leading source of worry for most people, with 80% saying that they feel stress about their personal finances. Birth Rates do tend to drop in times of economic crisis. There was a dramatic decline in the fertility rates following the great depression. That was the first time in US history that women's average child bearing went from three children per household to two. Studies also show in the previous recessions that the birth rate dipped slightly as well. How much the birth rate will dip this time depends on how long and how severe this recession will be.

If you are apart of Generation Y like me and having a hard time finding a job, you are not alone. The unemployment rate for younger workers in their 20's is well above the average which is just the opposite for those towards the end of their careers. For workers that are under the age of 29 the unemployment rate jumped up to more than 11% in December compared to only 9% last year. That is far worse than the national average of 7.2% which is also up 4.9% from a year ago. If that seems bad, it is far worse for those in their teens were the unemployment rate is nearly 20%. Older workers seem to have the leg up on the younger generation and that typically happens in almost any downturn, but this one has been harder because many were blindsided.

So Portland, with our new President being sworn into office today, do you think things will change for the better? Or is anybody planning on starting a family or having a hard time finding a job? Here at Employmentguide.com we are striving to help those in need during a time of crisis.

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