Courtesy of Phil and Pam (via Flickr)
Economically, there is no denying that times are hard for everyone. But analysis by the Pew Research Center shows that because of the economic downturn which has eliminated job opportunities for young adults and increased housing and college debt, the wealth gap between younger and older Americans has increased significantly.
Of course it makes sense for older Americans, who have the benefit of far more years in the workforce, to have more wealth. It is the widening of the gap that is something new. It has more than doubled since 2005.
If you are an unemployed young person, an unemployed person in general, or experiencing economic hardship, the most important thing is not to lose hope! This is a difficult time that will pass, and this video gives good advice on how to deal with the inevitable sadness that comes with unemployment.
Once you recognize that this too shall pass, it makes it easier to move forward. Then, whether you need a better job or just any job, you can start:
- The new job search. Here is a list of 18 different online job search engines. Keep in mind that online is not the only way to search for a job and in fact many career moves are made through personal connections. Figure out what kind of job you want and then put out the word to family, friends, neighbors, former bosses, former co-workers, teachers, and anyone else you think could help you.
- Cut the debt. If you can, because I know it is easier said than done, it’s always good to start thinking about reducing the amount consume and the amount of debt you’ve accumulated. Think about:
- Consolidating your student loan debt
- Live by a new set of personal finance rules
- Re-think your expenses
- Know about programs meant to help the most at-risk youth. If you are a youth living in poverty, without training or education, there are still job resources for you. Look into:
- YouthBuild, a program that “provides job training and educational opportunities for at-risk youth ages 16-24 while constructing or rehabilitating affordable housing for low-income or homeless families in their own neighborhoods”. Take a look at this list of YouthBuild Programs nationwide.
- Job Corps is a “free education and training program that helps young people learn a career, earn a high school diploma or GED, and find and keep a good job”. Check out the Job Corps website or call (800) 733-JOBS or (800) 733-5627.
