Does the current strain on Gen Y employment have much to do with Boomers deciding to work longer and not retire on schedule? I wonder how busy the myth factory is on this issue.
Yes I am concerned for the Gen Y promise of finding good work, but it’s not because Boomers will clog the system. From what I listen to and observe of most Boomers of a certain age over 55 is that, even though many say they want to work longer for whatever the motivation, they much rather would want to do it differently – and that doesn’t square with the fear of Gen Y being squeezed in the process.
Against the grain of a global economy seriously readjusting itself, perhaps the real issue has to do with the quirky shift in where the jobs for the real work of the future will be. Plenty of old and emerging needs where the Gen Y promise is yet to be fulfilled. Along with that – what can be expected, at least for the foreseeable, is new work and career patterns that shouldn’t be compared to the Boomer experience.
All being well, longevity for a 25 year old looks like another 60 plus years of living with other financial matters to deal with right now other than saving for a retirement. Student debt, a rising cost of living, mortgage martyrdom, coping with the eventual care of their elders. Previous generations managed to make it and no doubt so will this one.