Current Weather
The Spy FM

Are Today’s Millennials The ‘Screwed Generation’?

Filed by KOSU News in US News.
September 3, 2012

U.S. student loan debt tops $1 trillion and young people face disproportionately high unemployment. Writer Joel Kotkin points to these numbers when he claims today’s millennial generation is getting the short end of the stick. Kotkin speaks with host Michel Martin about his Newsweek/Daily Beast article about what he calls the “Screwed Generation.”

Recent college graduates “are growing up in a terrible economy that’s generating very few jobs. So, they’re stepping in it, if you will, economically,” Kotkin tells Tell Me More host Michel Martin. And, he says, “they’re going to inherit an enormous debt” run up by the federal, state and local governments — “that they are going to have to pay for.”

On top of that, Kotkin says, they face a high amount of college loan debt they can’t afford because baby boomers are staying in their jobs longer, creating a tight labor market. “And of course the problem is that they racked up that debt and they can’t pay it because they can’t get a decent job. So that’s a pretty good definition of being screwed,” he says.

Kotkin says one of the reasons millennials are in this situation is the push for a college degree, which in earlier generations led to a better job.

“In my parents’ generation, the sort of World War II – Depression generation, if you got a college degree you were pretty guaranteed of a decent job because there weren’t that many people with BAs,” he says. “There was a huge growth in the number of jobs that needed these skills and a relative paucity [of people to fill them]. Now the BA has become a commodity — there are so many of them.

“And then I think there are also many young people who have been pushed into four-year schools where they would have been better off with technical training or a two-year degree or going out and getting a job. And now they’re stuck with debt.” [Copyright 2012 National Public Radio]

Leave a Reply

3PM to 6PM All Things Considered

All Things Considered

For two hours every weekday, All Things Considered hosts Robert Siegel, Michele Norris and Melissa Block present the program's trademark mix of news, interviews, commentaries, reviews, and offbeat features.

Listen Live Now!

6PM to 6:30PM Marketplace

Marketplace

Hosted by Kai Ryssdal, award-winning Marketplace is public radio's daily magazine of business and economics.

View the program guide!

6:30PM to 7PM All Things Considered

All Things Considered

For two hours every weekday, All Things Considered hosts Robert Siegel, Michele Norris and Melissa Block present the program's trademark mix of news, interviews, commentaries, reviews, and offbeat features.

View the program guide!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center