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Implications of the Recession on Gen Y Knowledge Workers
Q:
How might you change your book Plugged In now that our economic crisis seems to be in full throttle, and is apparently different and more profound than any other? For example, do you still think that there will be a shortage of Gen Y knowledge workers in the present or future? Do you think the economy has changed forever?
A:
I’m quite certain that there will be a shortage of Gen Y knowledge workers as the economy rebounds over the next several years. In fact, even now, with over 13 million people out of work in the United States, there are 3 million open jobs that organizations are struggling to fill. Most of these are knowledge jobs—in health care, education, professional services and other fields that require specialized skills. The gap will widen over the upcoming years.
The economy has, in fact, changed forever. The percentage of knowledge jobs continues to increase, while the percentage of manufacturing jobs, declines. One of the implications of this shift is that many of the jobs that are and will become available cannot be filled by everyone who would like to participate in the workforce. Unlike a manufacturing economy that is able to absorb almost all skills levels, knowledge jobs carry many more prerequisites.
There’s no question that this has been a difficult year for everyone—including members of Generation Y. However, I’m confident that Y’s will have many positive career opportunities ahead.
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