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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

#411
post #10

Disclaimer: This is purely anecdotal, and not backed by any data. I'm in my mid-twenties and just recently started interviewing people for the team I work on. It's amazing how little effort many seemingly qualified people put in to secure an entry-level job. Whether it be hustle to learn more about a business, the specifics about the company you might work at, or finding someone to give a second set of eyes on a cove…

Recruiter and resume-writer-on-the-side here, and it's become so easy to apply for jobs that most people put zero effort into anything but pressing send and shotgunning a resume to hundreds of companies. If there was even a small cost (time or money) to applying, you can be sure that resumes and cover letters would be much more common and of higher quality. I'm not suggesting that we charge applicants, but years ago…

Devil's advocate: everywhere gets so many of these that they use automated filtering to sort out resumes. Consequently, there is no point in spending ANY effort until you get a positive feedback from an employer.

So, you have a purely random process on both sides that nobody is willing to put in any energy to fix.

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

#412
post #329
post #76

Earlier quoted context omitted.

Back around 2000, when I saw education costs rising (and was a big believer in market forces), I figured more educators would enter the market, and things would stabilize. It's been 15 years, and I haven't seen any new colleges or universities formed. What happened?

> and was a big believer in market forces A non-market force happened. The government started guaranteeing student loans. Although honestly, even without that, I don't think people are good enough in estimating the extra payoff of education they haven't received yet over their 30+ years long career in the future, to properly evaluate the market value of college education; instead, they were just believing the old man…

Wait - wouldn't that cause more demand and thus more opportunity on the supply side?

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

#413

Earlier quoted context omitted.

> The reality is that as time goes on, the world's needs can and will be met by fewer and fewer people. This is true, but I don't think it accounts for most of the youth unemployment we have seen so far. The jobs did not go to robots in America, they went to workers in China. To answer another common theme: we can complain about CEO pay, tax cuts, stagnant wages, etc., but the reason for the pure and simple lack of j…

I am surprised nobody has mentioned a word that has been a huge help in my career, "certification". Some certifications are stupid, but many HR folks will ignore your resume if it doesn't have the magic letters they are looking for. I highly recommend going the lower cost self study route. Also, some certs are really interesting, even fun, to prepare for.

Meh, I had a PMP for a while. I let it expire because nobody cared. Besides, once you have the certification they milk you by making you earn continuing education credits (which for the most part cost money to obtain).

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

#414
I don't fully understand this claim.

The job market has people coming in, but also, in parallel, people exiting out of it.

developed markets, especially in Europe and Japan, will see massive attrition due to people retiring or dying off. the baby boomer generation in the US is retiring as well. all those jobs need to be backfilled and all those old people will need services.

as the world population is stabilizing, it should not be that bad, no?

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

#415

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. You can try as hard as you want to get a job - if no one is hiring, you aren't going to get one. The reality is that as time goes on, the world's needs can and will be met by fewer and fewer people. This should be a good thing, but it wo…

A major fault line in the current economic system is the concept of 'right to work'. The current structure presumes that the right to receive a proportion of economic goods of a society should be strongly associated with employment. But with most jobs are already meaningless from the viewpoint of economic productivity, the 'right to work' ethic concentrates power in the hands of the managerial classes in charge of jo…

'Right to work' is a specific term used in the US to designate labor legislation used to cripple unions and shouldn't be confused with a general 'right' to employment.

The choice in terminology had me very confused on the first read.

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

#416

Earlier quoted context omitted.

Yup, the future sucks and the past was better! Seriously though, I don't blame the internet or modern interconnected society anywhere. I say that companies should shoulder a larger portion of the blame for creating perverse incentives. Other than that, I'm just trying to describe the world as I see it.

Your whole first paragraph came off as extremely luddite. Knowing that you didn't intend it as such, I'm not sure how to interpret it.

There's a difference between pointing out the flaws of the new system and flatly denying any of its benefits.

Luddites would smash looms so that they could keep their old jobs; I'm merely suggesting that if companies don't want a million resumes for every open position there are things they could do -- which they are not currently doing -- to help with this.

The problem with email is that it's frictionless. It costs an immeasureably small amount of money to send an email so as long as there are some suckers out there who'll buy your penis pills, sending spam emails is profitable.

Similarly all the friction has been taken out of the "submitting a resume for a job" experience and companies are now getting deluged. That's probably not the optimal outcome for employers or job seekers, but the only people who have any power to change it are the employers. Job seekers don't have any real influence on the systems by which employers choose employees, at least not until they get hired and even then it's just about impossible.

The only knob job seekers have to turn is how many resumes they send out and there's little/no downside to sending out more so it's entirely unsurprising that they choose to do so.

Companies on the other hand have a bunch of knobs they can turn regarding how they accept resumes. They're choosing to turn none of them and dealing with the problem on the back-end (keyword matching) rather than the front-end (increasing friction). This leaves them with a quality problem because people aren't keywords and someone with a year too little of experience X might have more than enough actual skill with the thing you need. It's kind-of foolish to assume people all learn at the same rate, isn't it? But because of the quantity problem that employers have, they can't solve the quality problem because that would cost far, far too much. They'd have to spend tens of thousands of dollars on engineering time to try and find the close-but-not-exact-but-definitely-good-enough needles in the not-close-at-all resume haystack.

This is why various companies have tried all kinds of different recruiting tactics like Google's early days where you had to solve problems from billboards or how a lot of companies want to see your open source work or for you to take a coding quiz. That's solving the problem on the front end.

But for some reason not everyone has picked up on this and out of all the programming jobs in the world maybe only 10% (no idea, it's just a guess) get filled by people who solve the problem on the front end. Everyone else does it on the back end, and their methods for dealing with it that way are not up to the task. This is a well documented phenomena, there are countless articles on the subject.

http://www.cio.com/article/2398753/careers-staffing/5-inside...

http://www.today.com/money/how-employers-make-it-hard-find-g...

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

#417
post #168

Earlier quoted context omitted.

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…

>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 Interesting. Do you see this as more of a failure in your upbringing, or of a failure of society to live up to your expectations? Has this realization changed your political thinking in any ways?

I think young people should always respect their elders, even though they can and will be wrong at times. Doctors, engineers, politicians, teachers, parents - they're all fallible.

I don't think my upbringing was a failure - I think it's pretty normal to be extremely idealistic when you're raised in a middle class, educated bubble like I was. Most of my friends had great, successful parents and I think we all just assumed that if we followed the rules, got good grades, kept our noses clean, and went to college like our parents wanted us to, that we would be happy and successful just like them.

That was the magic formula for their generation. In fact, it allowed my mother to come to the US, get a good job at ROME Corp (later acquired by IBM in its heyday), and to pull her family out of poverty in Taiwan, where they had been so poor after her father's death that they had been forced to put 2 of her younger siblings into an orphanage. A college education allowed my dad to start his own law practice and to take out a mortgage in California, back when real estate was something people lived on, not invested in.

Now, this paradigm of education=prosperity has shifted dramatically, leading to disillusionment. My domestic friends all want to go into either tech or finance, and some (with degrees from good universities) can't find any jobs. Many of my very intelligent, driven international friends are being forced out of the US post-graduation because nobody wants to sponsor them, when in many cases they would be 10x better than a domestic candidate. The ones who stay are the lucky ones with connections at large companies that are willing to trade visas for favors and personal connections. But sometimes I wonder how lucky they really are to be staying in the US with the trajectory we are currently on.

Politically, the financial crisis and subsequent great recession has had a profound impact on me. When I studied economics in high school, I loved it because it presented such a clear path to efficiency and utility: free markets with no regulations, no distortions, no bullshit. Then 2008 came along, and I began to hear my parents argue about how they were going to afford to continue to pay for my high school, or send me to college. I didn't realize the magnitude of the event (the great recession) at the time, but became more aware of it as I started to look at the job market in college. My studies caused me to wonder why our system was set up in such a way that something so terrible could happen on such a large scale. How people were blinded or refused to see what was going on beneath the surface of the economy; how those who were supposed to protect us and our families from financial catastrophe failed miserably.

Politically, it made me realize that we need to have a strong government to regulate the greed of the free market, and that when that system of checks and balances fails, people lose their jobs and their homes. They get sick. They become homeless. They rely even more on an already-weak state. Some die.

My senior thesis was on the denationalization of currency (Friedrich Hayek's idea) through blockchain-based virtual currency, which would essentially end the government's control over the supply of money and put it into the hands of a regulated currency market. So that's where I ended up - tear down the current festering system, put better regulators into power, and let them steer the unparalleled engine of the free(ish) market. Not completely revolutionary, but definitely a bit weird and radical.

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

#418

Earlier quoted context omitted.

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…

And it is up to your generation to do a better job of it (no pun intended) so run for office!

I don't mean to offend, but this seems quite banal (maybe it's just how insincere it sounds in face of what most people have to go through on a daily basis to tread water).

It's as if the only way of bringing effective change (for some definition of such) along any social economic dimension (read: ways resource allocation) dimension is running for office. Its laughable to think, pandering to the status quo will improve the situation.

Sure, what we have now may be what is currently running on the OS of collective human behaviors with a high resource load, but it doesn't really stand in the way of people trying to think/experiment and bootstrap other methods grounded in the realities most people have face everyday, as compared to a more fortunate few.

As things get worse for some of us, it can also the best motivation for one to pursue other ways of being.

Well then again, maybe if the US Treasury sells a couple trillion T-backs to the Federal reserve and a couple more rounds of QE will solve all the problems the world faces, again!

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

#419

Earlier quoted context omitted.

> That is what I love about the Tea Party (not their politics but that they decided to do something about what they felt). In just under 10 years they have become a strong voice in national politics. Many of their members were brought into office by people just like you, passionate about what is wrong (in their opinion) with the way things are done. http://www.huffingtonpost.com/brendan-demelle/study-confirms... > A…

In my opinion, you are conflating cause and effect, but per an earlier comment I made it is incorrect for anyone to believe that their passions are not shared by others. And when those others have more money than time, that is how they "help." If you run for office in the US, you will form an organizing committee. And you will put in your organizing documents the things you believe should be true about the world that…

> In my opinion, you are conflating cause and effect, but per an earlier comment I made it is incorrect for anyone to believe that their passions are not shared by others. And when those others have more money than time, that is how they "help."

If its okay with you, I'll go with the people with doctorates in the field over your opinion on the internet.

Out of curiosity, how many academic papers would it take saying you are wrong before you'd believe me?

> If you run for office in the US, you will form an organizing committee. And you will put in your organizing documents the things you believe should be true about the world that aren't (this would be your platform) and because that is a public document, it will be published by the State or Federal elections commission with all the other platforms out there.

You seem to be operating under the delusion that I don't understand how it works. I do. That is the problem.

> And you will be surprised, perhaps pleasantly so, perhaps unpleasantly, that your "agenda" or platform may line up with what some billionaire thinks is the right thing as well, or maybe they just want to use you to steal votes from another player in the race (this is politics after all) and you will get donations to your committee from weird sounding names like "Higgly Piggly Partners, LLP" which are people who generally want to remain anonymous and want to help you get elected. Some of those people might be billionaires. You probably won't know but it is always good to ask what they hope to achieve by getting you elected.

No, I won't be surprised.

There was a good guy I know that tried this sort of thing, no billionaire would back him. In the end, people like me and his millionaire brother did. It amounted to nothing because enough "other people" funneled money into the election to "anonymously" send out mailers that implied his brother was a "Chinese citizen" and his campaign was funded by money from China.

Similarly, a councilman with platform similar to what I'd like failed to get elected.

How you ask?

Well, first they slanted the system to prevent the guy from getting elected. There was a court case that found the voting method violated the population's civil rights. They then found a guy with the same name and a different middle initial to split the vote. He's been used as a proxy in such votes before. He'd have won except for the 4% of people who voted for the wrong guy. [ Remember, the proxy doesn't actually do anything other than get his name on the ballot. So his contributions are basically payment for services rendered. ]

I could go on about all the other things money has bought that I've seen first hand if you like. Shall I?

> Politics is people. Its people collectively trying to achieve a goal, some for themselves, some for the group. Whether you are in a company or a government or on an island competing for a million dollars, politics is the process by which negotiation, decisions, and change is effected. It is perfectly legit to say that you don't understand how it works, but it is incorrect to say that you cannot participate. And sometimes participation can lead to understanding which can lead to great things. But you won't know unless you try.

No, Politics is money and the ability to buy people to do your dirty work for you.

No one is going to give me $3+ million to lie to people to win a single congressional seat. However, they are perfectly happy to do that for people who hold the sort of views. How much do you think the opposition raised? Less than a million.

https://www.washingtonpost.com/news/the-fix/wp/2014/04/04/th...

But hey, money doesn't matter. The ability to hand a man a large chunk of money to run as a candidate whose sole job is to put his name on the ballot to confuse people [he didn't actually use any of his campaign funds to campaign, fyi].

But hey, prove me wrong. Go right ahead. Go find some nice district where there are some large incumbent players and run for city council against their interests. See how far that gets you. [ Hint: They'll hire a guy with a single character difference in the name, fund half a dozen candidates with larger treasuries than you. ]

Hell, I'll even tell you what happened to the last guy so you know what to expect.

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

#420

Earlier quoted context omitted.

>They're also guaranteed by the federal government, which has seemingly infinite resources. IMO That resource is GDP. If American's can't find meaningful work that has financial value not just domestically, but internationally, we'll see how much of that resource is left after a few decades. Or more accurately, we'll see a VERY tiny percentage of Americans with vast wealth and the majority struggling for subsistence…

If America runs out of money, they will just print more. If their creditors call out their loans, America is very happy to pay them off: in US dollars.

At some point China will stop believing in the value of US bonds.
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