ET CITINGS

http://knowledge.wharton.upenn.edu/article.cfm?articleid=2619
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"With a national unemployment rate of 9.6%, many of them cannot

find jobs. Some have had to move back home with their parents;

others are scraping by with low-level work that is barely enough to

pay back the four and five figure loans they took out for college. "It's

not looking particularly good for Gen Y," says Matthew Bidwell, a

Wharton management professor. "And I don't think it's going to go

away by the next graduation season in May. A lot of forecasts are for

a slow and hesitant recovery. We're not going back to 2007 any time

soon."
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"It takes them longer to get into the workforce so they are not

acquiring the skills they need. In addition, they are more apt to take

a lower level job or an unpaid internship. And once the economy

improves and they land a better job, it takes these workers longer to

climb the ladder because they have to learn skills they should have

been developing immediately out of college. In the meantime, they

are at risk of being leapfrogged by new graduates."
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"If you don't get a decent job in your first five years in the workforce,

do you ever? You don't develop the stable work habits or the self-

esteem to move up the corporate ladder," he says. "It's a horrendous

waste of human capital."

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