“THE Facebook generation always got what it wanted. A place at university, laptop, iPod or, for that matter, a job.
Here is a generation that does not remember the time without mobile phones or computers. Raised by doting parents who told them they were special, they played in competitions where there were no losers and everyone got a trophy. It is a generation who have never experienced economic hardship in their working lives and are too young to remember the last recession of 1991, but they will see hardship now.
“Generation Y are about to enter a world that looks very different from the one they faced six months ago,” says Dominic Thurbon, managing director of the Centre for Skills Development. “We’ll see the heat come out of the employment market and gen Y will find their ability to debt-finance their lifestyle will get tougher.”
From the Age Newspaper. Read full article here
Tags: credit crisis, Gen Y
