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The world needs at least 600M new jobs in the next decade for young people

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Re: The world needs at least 600M new jobs in the next decade for young people

#311
post #241

Earlier quoted context omitted.

For one of two paries that are essentially the same? Obama made a lot of big prommises before getting into power. He hasn't followed through on many of them at all.

A common reaction, but I find it inadequate. You might find both major parties to be not good enough, but that in no way implies their policies are the same. Policies MATTER. Disappointed that Obama didn't do as much as he promised? So am I. Bothered by his reactions to things like Snowden? Ditto. But don't mistake those issues as being exactly what the other party would have done. [And for those that hold more conse…

Well good luck to you.

I think differences in policies are irrelevant given the current setup. If Obama's two terms have proven anything, it's how ineffective the system is. You don't see leader's, in any other field stand at the podium and sigh, groan and just look as frustrated/helpless as he does.

And telling people to vote for this kind of ineffectiveness (14 years now in the middle east, just to pick one issue) is like telling Snowden to keep his mouth shut and soldier on.

The political class feel like the medallion based taxicab union just waiting to be subverted.

Re: The world needs at least 600M new jobs in the next decade for young people

#312
post #257

Earlier quoted context omitted.

A philosophy major is not a poor financial instrument because it's not financial instrument at all. Education has aims other than making investors money. As a practical matter, philosophy is typically studied by those who will go on to law school, a Masters in something employable, or as part of a minor or "core curriculum" alongside a trade. In most of the liberal arts and humanities - particularly philosophy, a gra…

I would love to believe tha is true, but whenever I hear modern philosiphers (Alain de Botton comes to mind), they seem to study other classical philosiphers rather than come up with their own ideas. Its like the diference between an author and someone who reads books.

Sure, but a good author is someone who has read many books. Standing on the shoulders of giants and all that. (I admit that I don't know much of modern philosophers, but I find it hard to believe they are not making good use of those who came before.)

Re: The world needs at least 600M new jobs in the next decade for young people

#313

Earlier quoted context omitted.

"Fear of unemployment" is a necessary abstraction, but consider what unemployment actually means. Let's say you are unemployed, and living with your parents-- a very common situation for this generation. You're getting bled each month by your student loans, even if you no other bills, which you probably do. The candidate wants to work at any one of those 40 places, because otherwise they go into default and ruin thei…

I'm not saying that people aren't justified in fearing unemployment. I'm just saying that fear pressures them into making suboptimal decisions. It's even worse because 99% of those people immediately stop looking for work, often with a huge sigh of relief, after they've found a stable job.

> immediately stop looking for work [...] after they've found a stable job

As opposed to what?! Any potential employer will ask you in an interview, "Why are you looking to leave your job so soon?". What are you going to say? "Oh, I'm just trying to find something better." - a surefire way to instill trust in your interviewer and get hired /sarcasm.

Re: The world needs at least 600M new jobs in the next decade for young people

#314
post #53
post #47

Earlier quoted context omitted.

> But I can't think of a way that the bubble could actually pop. Or what it would look like if it did. It would look like a social movement. It would look like tens of millions of young people realizing that they have fallen under the yoke of life-long indentured servitude to the older generation, and either 1) getting organized enough to get the law changed or, 2) saying "fuck it, I've got nothing left to lose" and…

For federal student loans, there isn't a life of indentured servitude. There are income based repayment plans that with fairly low costs per month. A single guy working at starbucks making 30k per year would only pay about $100 per month even with a 200k loan (if he had a wife and kid, he'd pay nothing). Then after 20 years the rest is forgiven.

A lot of the loans that people hold are not federal loans.

Re: The world needs at least 600M new jobs in the next decade for young people

#315
Hey how valid is this information? I didn't quite grasp if they counted in other factors, for example, people incurrent jobs that will pass away. Additionally data such as baby boomers are getting older and will create markets in stagnant areas at the moment.

Re: The world needs at least 600M new jobs in the next decade for young people

#316

Earlier quoted context omitted.

Unfortunately the cap on maximum borrowing with federal student loans is quite low compared to the total cost of many colleges, so there's lots of private loans that come due six months after graduation and don't really care what your income level is -- they just want to be paid.

That's true. But of the total student loan debt of $1.2 trillion, and $1 trillion is federal student loan debt. Private loans are a comparatively small problem.

WOW, thank you for posting this. That is astounding and I had no idea it was that magnitude when I wrote my previous post. If anyone wants a source, the $1 trillion number is from the federal Consumer Financial Protection Bureau[1] and CFPB has even made available a detailed breakdown of the federal government's student loan portfolios[2]

[1] http://www.consumerfinance.gov/newsroom/student-debt-swells-...

[2] https://studentaid.ed.gov/sa/about/data-center/student/portf...

Re: The world needs at least 600M new jobs in the next decade for young people

#317
post #201

Earlier quoted context omitted.

> Job seekers are much better served spending an hour sending 10 focused applications than spending that same hour to send 100 sanitized applications. Let's assume that you have a 1 in 20 chance on the focused applications, and a 1 in 200 chance on the sanitized ones. Then the odds that you are offered at least one job, is 40.13% for the focused ones, and 39.42% for the sanitized ones. I'm not sure the emotional inve…

I appreciate the odds, but I'd hope the numbers would be better for both (we're talking chances of interview here). I usually expect candidates who are applying to jobs they are mostly or entirely qualified for will get response rates well above that (perhaps 40%), but that's only based on anecdotal evidence from my industry experience over the past ~20 years.

Too add different anecdotal evidence. Circa 2006-2007 all of my peers who were entering the job market had to send out >100 applications to get a 1-2 interviews, if they did not get referred by someone. Based on stories from younger family and friends, the situation was the same for first time jobs in 2011-2013

Re: The world needs at least 600M new jobs in the next decade for young people

#318

Earlier quoted context omitted.

> Most of the comments here focus on how people aren't trying hard enough to get jobs. This article indicates that the jobs don't exist and that the problem is likely to get far worse. The reality is that BOTH are true. There is no law stating that each generation of humans should have it easier and with more resources available to them. My generation is facing this crisis, and the default response is to complain. Wh…

Speaking for myself (as a 22 year-old recent graduate) - I was brought up to respect my elders and to consider society as a mostly-altruistic, benevolent mass of humanity with a conscience bent more towards justice and meritocracy than corruption and inequality. I believed that the older generation who shape and structure society through government, industry, and academia were doing their absolute best to set future…

> to consider society as a mostly-altruistic, benevolent mass of humanity

There is no mass of humanity in that way, just like "HN believes..." or "Reddit thinks..." is mostly impossible to say. Some folks of that generation did/do act in mostly-altruistic, benevolent ways, and some of them did/do not. The generational argument is a very clever red herring that shifts blame from a broken system to the previous generation -- print this comment out and put it somewhere safe; your future children will be blaming your generation, too.

> "how the hell did these people end up working minimum wage, 11pm shifts at the grocery store at age 58?"

Lots of times, sheer boredom. Folks like us might do freelance coding or something in our old age, but there's not a good market for freelance people managers (which a great deal of those 58-year-old bag boys probably were -- why not ask them next time?) Also, big grocery stores are typically union so it's not actually a terrible career for the kind of work it is. Your generation has a different idea of what a "good job" is, so that's probably informing a bit of your reaction too.

> I find that many in the older generation are simply trying to make ends meet in an environment of scarcity

Most people are simply trying to make ends meet. Some saved more, some saved less, some earned more, some earned less, but in the US if you worked and paid taxes, you'll get the bare minimum (social security + medicare) and won't ever starve or go cold. If your desire for retirement is more than "won't starve", start saving today and always live below your means.

> with the youth subsequently becoming disillusioned because the system seems to be set up against them.

Every generation back to the ancient Greeks felt that way. There's basically always been a counterculture movement based on youthful disillusionment, some more successful (hippies of the 60s) and some less (#occupywallst). But it's not anything new. This should tell you something important: the system is the problem, and the system is adverse to change. A lot of those hippies turned into middle managers.

> But you would think "they" (the nameless, faceless, despised rich) would find it in their interests to give back to society

They absolutely do. The top 1% of earners pay 50% of federal taxes. Those social programs I mentioned above that will keep you eating, clothed and warm even if you don't have a penny to your name? Thank the taxpayers, of whom top earners comprise disproportionately. Almost all charitable foundations are made possible by the rich. Did you take any grants, subsidized loans or scholarships? If so, thank taxpayers (mostly top earners) and private donators (again, mostly top earners).

What's weird is that you understand the effect ("greed, sloth, misplaced violence, weak guidance, and weaker morals") but totally misunderstand the cause. Yours is the first generation of "everyone's special" come to adulthood. Instead of looking at the rich person and saying "wow, I want that, how can I get that for myself?" (and then doing it or at least trying), they'll say "wow, I want that, he has it, f* that guy". It's worse than greed, it's covetousness - wanting something so much you'd take it from someone else. That will be America's undoing.

Re: The world needs at least 600M new jobs in the next decade for young people

#319

Earlier quoted context omitted.

> In fact I wouldn't choose to live anytime before the last 100 or 200 years. 1950 or later would have been my preference had I been given a choice. 1950 is the earliest that would be OK for me - I had cataracts. In a world before cataract surgery, I would be blind.

I'm pretty sure cataract surgery was around before 1950

From "A Short History of Cataract Surgery":

"Cataract surgery in its simplest form is at least 4000 years old. Couching for cataract was the earliest method at about 2000 BC, and even then was evidently practiced in the Tigris / Euphrates area, as well as India and Japan. The earliest records are from The Bible and The Red Sea Scrolls as well as early Hindu records of Susruta’s time."

http://www.rila.co.uk/issues/free/001/2001/v4n2/p61_65/p61_6...

Re: The world needs at least 600M new jobs in the next decade for young people

#320

Earlier quoted context omitted.

You can always make more jobs. Just tax people that have money and give the money away to other people in exchange for participating in elaborate paper pushing schemes. Bureaucracy has been providing jobs for people as the technology progressed. For example... No jobs? That's great opportunity to hire some people to help unemployed look for a job plus some people to educate the unemployed plus some people that would…

Sure, or you can tax people that have money and spend that to invest in infrastructure, education, health care, etc., which also creates jobs.

Yes. But that requires some thought, decisions, why this not that. People will hate you.

Bureaucracy grows organically and almost no one notices and people are happy because they have more jobs.

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