Why Millennials Can’t Find work: Can’t Get Jobs
Despite the recession ending, millennial still find it hard to get jobs. They may be shaping the workplace and society, but that does not mean it is easy for them to get work. In fact, it is estimated that over 12% of millennials are still unemployed. It is quite worrying when you consider that the national average is just 4.9%.
In America, it is expected that millennials will gain experience and replace the previous generation, but that is not happening. So, what is keeping this generation from finding work? Here are a few of the reasons that we at http://bitgale.com/ think might be causing this problem.
They Set Expectation Too High And Are Overconfident
It may play into the stereotype that millennials are lazy and full of ego. However, the statistics support this. Obsession with fame and a penchant for narcissism is holding them back. The result is that they find themselves with extraordinary expectations of what jobs they can get. Millennials want to be given considerable responsibilities and high pay, even when they do not have the experience. If they are unable to find their dream job, they just give up on searching for jobs.
According to a recent study, the department of labor has no records for 1.7 million young people. That just means that they gave up looking. That may mean that most of them are overqualified for the jobs currently available to employees.
Skills mismatch
Another reason for this is that there is a significant mismatch in skill level across all sectors of the economy. They merely have skills that are not applicable in any workplace. It leads to an imbalance in supply and demand for labor. Younger generations need to work hard and ensure they acquire skills that are relevant to the current job market.
The labor market is crowded
Although the recession is over, there are still some significant levels of unemployment, although they may be low. It merely means that at any one time, there is more supply than demand in the economy. Most millennials graduated in an era where 90% of jobs created after the recession were part-time.
However, there are upcoming fields of employment such as IT, Healthcare, and Energy, where opportunities abound. Young people need to invest in these areas as the foundations for a career.
Lack of papers
Although they may be highly educated, some of the millennials have dropped out of college for various reasons. For some, it is financial while for others they just gave up. Without university degrees, it makes them hard to find jobs anywhere. If a millennial wants to increase their chances of employment, they need to acquire a degree and have the right work experience.
High cost of living
For them to move out of their parents’ home and pay their bills, millennials need to earn enough so that they do not rely on their parents. The cost of living is high, and it discourages some from moving out of home to find a low paying entry-level job. Most of them end up working in hotels and the service industry where they make enough to see the next day, but there is no opportunity for growth.
They have a negative attitude towards life
Most millennials have fear, frustration, and doubts. These emotions hinder them in their job searches. Without some positive thinking, such as finding work soon, they just give up. If they want to succeed in their job searches, millennials need to be open to change. They must also be engaged, and have a positive outlook.
Huge student debts
Tuition fees have risen drastically. It makes it challenging for them to save money and find a career. When they think of the prospects of starting life with massive debts, it discourages them. This enormous pressure on young people holds them back, and they choose to live with their parents.
Poor credit scores
One thing that can deem the chances of finding work are a bad credit score. If you have been monitoring your credit score, it could affect your chances of ever finding a job. Most millennials have an aversion to credit scores, and they do not monitor their debt. If you do have a nonexistent credit history, most employers might not be willing to take you on as an employee. Fortunately, there are numerous tutorials out there that allow you to monitor and correct this. Take time and try to work on improving it.
However, millennials are not doomed. If they do some careful planning and stay committed, they can move forward, albeit slowly. They merely need to take into account the skills they need and remain informed about changes in the economy. Besides that, they need to develop a positive attitude that they can find jobs that match their skills.