Why Gen Y May Survive Recession Better

Oh, and the conclusions in this article are weak:

1. They have weaker ties to corporate America. -- Speaking as a Gen X'er, we were job hopping like rabbits in the 90's too. I imagine the 80's were pretty similar.

2. They work cheap. -- This is because 20 somethings are less experienced and cheaper no matter what generation.

3. They don't have the financial burdens of Boomers and Gen X.. -- 20 somethings have less responsibilities no matter what generation. Also pointing out that Gen Y's are still living at home more than ever speaks very poorly of them.....

4. They've been multitasking since they were kids. -- Can they still focus on the task at hand or are they wasting your time multitasking on Facebook? Every generation grows up with newer technology and handling the ability to multitask more that tech provides.

5. They may be spoiled but they're not stupid. -- more 20 something generalizations.
 
Weaker corporate ties to america? our generation spends more money than the previous generation. Don't have financial burdens? I know people who live paycheck to paycheck because they chose to move out so early and pay for school and their living. Multi tasking since we were kids? Older generations sometimes refuse to learn new things, such as my parents. Were not spoiled either, our parent's didn't get to live the life we are living, so they want us to live this life to the best. I'm not spoiled, I love technology more than ever because I lived in a third world country for 6 years. I don't take things around me for granted either.
 
FSCDiablo said:
Oh, and the conclusions in this article are weak:
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+1

Lame article.

Kids with no responsibilities or cares in the world handle downturn better than middle aged folks with tons of responabilities losing pensions etc... Well Duh.

Call the obvioius police.
 
kemist1117 said:
Gen Y starts around 1978 to about 1998 or so, each gen is usually ~20 years. Gen Y is basically the baby boomers babies.

Gen x is smaller and is from late 60s to late 70s.
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If you put all of the Gen Y'ers together you're going to have half of a very smart group and half of a very dumb group. Because from what ive seen in general those born in the mid to late 90's arent very smart overall. They're all raised differently and lots of them are pretty screwed up. I think the first 10 years of Gen Y'ers is very different from the last 10 years.
 
Of course Gen Y'ers will be better off, most in our generation with savings were saving for more short term goals (cars/houses/vacations/etc), while the rest weren't bothering and are currently looking forward to good sales this holiday season. Most people I work with are actually just starting to invest given the prospects of both the markets recovering AND future growth.

My advice (and the advice my father gave me) is to always pay atleast what your company matches towards retirement, make sure you're paying off your debts/bills and put everything else into high interest savings accounts. The money in savings is your money for spending/investing wisely, but always keep enough cash in savings to live off from for 3+ months.
 
Im a gen X'er and not worried about the recession at all. Survived the dot.bomb even with being out of tech work for a few years. Shit happens. You deal with it, and find a way to make a living doing something else.
 
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