It’s no secret that the recession has greatly affected the young adults in the job market. We have heard before that the effects of the recession will have largely negative impacts on young adults for the rest of their careers. No matter how many times we have heard these facts, it’s a bit more difficult each time. This infographic from Visual.ly has broken down the facts once again for us.
According to the graphic, graduates of the recession will make more moves towards saving their money and are more prone to opt for wealth distribution and government intervention. In fact, choose safer jobs, spend less on credit and invest more conservatively. Though these are great characteristics to have, it’s likely due to the fact that they recession graduates earn, on average, $100,000 less than those that graduated in 2000. Plus, for every percentage higher the unemployment rate climbs, they take a 6 percent pay cut. This cut in pay doesn’t just affect them in their current standings, but will continue to haunt them for the rest of their careers.
On top of that, these recession graduates spend more time with their families. On average, people spend 2.25 more hours with their family than they did before the recession. It’s clear that the recession has altered the values and practices of young adults in the job market and is shaping the mindset of their career outlook and health. Take a look at the infographic and see what you think.
What do you think about these findings? As a recent college graduate or student, do these findings alarm you? Tell me what you think in the comments or tweet me @nicole_spark. I’d love to hear your thoughts.