The Young Professional Series: Educated Yet Unemployed

For many Millennials, college graduation is not a ticket to a career. In fact, the millennial generation, ranging from ages 18 to 34, makes up 40% of the unemployed population in the U.S., according to Anthony Carnevale, a director and research professor for Georgetown University’s Center on Education and the Workforce. Jobless, Millennials are turning to their childhood homes to stay above water while searching for a job.

Contrary to the media misconception that Millennials are "lazy and entitled," Millennials are facing real economic difficulties in launching their careers. A variety of factors come into play.

  1. Entry-level jobs are scarce;
  2. you need job experience to get a job...
  3. incomes are lower, living costs are rising;
  4. student loans are expensive;
  5. unpaid internships are on the rise;
  6. Baby Boomers make up a large part of the workforce, leaving less room for Millennials;
  7. and the "anything-is-possible" philosophy is stunting our job search. Millennials aren't just waiting for a job, but the perfect job.

What should Millennials do?

How can Millennials combat difficult economic times, and an unpromising job outlook?

Keep working, and don't rule out entrepreneurship!

No matter what it is, continue learning new skills and gaining experience. Whether it is through your own entrepreneurial pursuit, or with a job that you wouldn't consider a "career," you can continue to learn and gain experience no matter where you are.

Spencer Wood created his startup business, Tip Whip.

Spencer Wood created his startup business, Tip Whip.

Millennials are becoming creative in how they approach the job search. "Today, 60 percent of millennials consider themselves entrepreneurs and 90 percent recognize entrepreneurship as a mentality," according to an article in the Huffington Post. Entrepreneurship, pursuing their own career path, is becoming a popular choice, and even a necessity, for Millennials. Check out the Millennials who are pursuing their entrepreneurial dreams now!

Make a portfolio

If you know what type of career you want, work on building a portfolio. Creating a portfolio of independent projects and organizing it in an appealing way, can make a great impression on prospective employers.

Network

Using social networking sites, like LinkedIn, can help employers find you, which can lead to opportunities. Attending business networking events, can also be a great way to expand your connections, and learn about new opportunities as they become available. Knowing the right person can sometimes mean an "in" for you.

Keep your greater vision at the forefront of your mind

Remember, everything happens for a reason. If you didn't get the first, second, or even third job you wanted, there is a reason. Remind yourself to stay positive, stay focused, and keep pursuing something. As long as you are continually working toward your ultimate goal, the right opportunity will come along.

Take care,

Mallory

SOURCES:

https://www.besmith.com/thought-leadership/career-management/career-planning-10-strategies-prepare-future-success

http://www.newsweek.com/2015/06/05/millennial-college-graduates-young-educated-jobless-335821.html

http://national.deseretnews.com/article/2435/7-reasons-why-millennials-are-unemployed-and-living-at-home.html