The State of Economic Youth

Innovations and changes in the economy over the past decade have made the young person’s economic role significantly different from a tenured member of the workforce. Technology, communication, and an abundance of new opportunities have shaped the young person’s economy. These advances require young people to have an understanding of new technologies and attain an appropriate education that will allow them to make the most of the opportunities that surround them.

An education has become irreplaceable in the formula for success. With college enrollment rates increasing 26% between 1997 and 2007, as opposed to only 14% between 1987 and 1997, it is paramount for students to get an education in order to create financial opportunity. Whether it is a college degree or a honed skill, young members of the economy must possess a diverse education excelling in more than one area of expertise.

Steve Fox, a sophomore at Ramapo College, realizes that single skill sets no longer cut it in the workplace. “I chose to double major in psychology and English because my job choices in either field will increase. Taking diverse classes has encouraged the development of many talents,” explains Fox. “It’s important in any job to have multiple skill sets. In a job-scarce economy, the ability to perform numerous tasks for your employer gives you increased job security and possibly more upward mobility.”

With predictions for our generation changing jobs nearly 10 times from the ages of 18 to 38, we all must have broad skill sets, focusing on marketing ourselves in many different areas. Scott Davis, CEO of UPS, has been quoted saying that skills young members of the workforce must have are, “The ability to act independently and solve problems on their own, strong interpersonal written, oral, and social skills to collaborate with colleagues, strong global literacy to understand people around the world, the ability to acquire the information they need to do the job, and the ability to learn new skills as corporations change strategies to stay competitive.” Young members of the workforce are expected to provide a boundless stream of effort and energy towards their careers, and focus on constantly improving and adding to their skill sets in personal or business-related ways. Improvements create a more dynamic economic world and increase diversity and inspiration in the workplace.

Because of the constant drive for innovation leading to positive change and success, the young person’s economy is restless. Heavy reliance on the internet and increased communication abilities mean that young people are living in a 24/7 economy–smart phones and Skype mean that the workforce is constantly on call. Nicole Mastrangelo, an intern at Likeable Media, says, “Ever since the beeper was invented, basically personal life and work life have been intermingled, I believe. I know at my internship, we have specified on-call hours in which my boss can call me and ask me to finish a task no matter what I’m doing.” In the modern economy, the office has disappeared, and young employees can be expected to be on call at all times.

Because the job market is increasingly competitive, and more people are competing for prestigious career positions, as well as desiring to pioneer innovative career opportunities, time is of the essence when looking to achieve career success–and so is passion. In order to develop independence in our careers and remain competitive members of the workforce, while continuously improving our applicable talents inside and outside of the workplace, it has become far more important to be passionate about what you do, and capitalize on the technological advancements to leverage that emotion.

We have the ability to develop our educations and careers outside of the workplace with the vast amount of informative resources available. These innovations to business-communication abilities also mean a diverse amount of career opportunities that are not limited to a cubicle. Pursuing a self-satisfying and meaningful career has become easier with innovative technologies and free-content services such as YouTube. Readily accessible technology has broadened economic opportunities and has made entrepreneurship increasingly attainable as a career path.

Coinciding with the freedom that technology has provided the workplace, the realization that employment isn’t just about the money has emerged in the ambitions of young workers. Young people are seeking meaning and purpose in their lives, in addition to monetary rewards. Dave Hutsebaut, a senior at Delaware Valley College, pursuing a career as a veterinarian, understands the importance of having a meaningful career.

He says, "I have had animals since I can remember. It was my childhood dream to be a vet and it never went away. After two years of college, I took a year off so that I could work in a vet hospital so I could make sure that was what I really wanted to do for the rest of my life. I loved it. Now I'm working at a vet hospital part time while continuing my degree in biology." There is an opportunity for young members of the economy to work harder than ever to ensure that their lives do not just produce a monetary return, but also hold significant personal meaning. The emotional infrastructure is in place. We now need the architects to build their vision.

As young people entering the workforce, we have an inextinguishable determination for creating meaningful futures. We realize the competitiveness of the workplace and we are ready to learn as much as possible to be the best in our chosen careers, making the most of the passions we have chosen to pursue. Technological innovations have presented us with a bottomless well of resources to allow us to develop into dynamic, powerful members of the workforce, as long as we are willing to put in the effort. While the increased presence of technology may mean that our work maintains a greater presence in our life, if we choose careers that we love and that serve a purpose deeper than monetary returns, they become not something that we leave at 5pm, but that we welcome as a natural part of who we are. Our economy is not just about money; it’s about creating purposeful lives that help establish and sustain strong values for generations to come.