I heard a story on the news, or maybe on CNBC this past week about the flood of college graduates entering the workforce around this time of year. What I found interesting is the fact that because the older range of baby boomers are reaching retirement age, the job market is actually getting better. As more people retire companies are promoting from within, or hiring from other companies. This is opening up positions for professional entry-level positions.
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College graduates entering the workforce
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Posted 3 months ago #
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Some baby boomers are retiring, some are being forced out. There's something to think about that goes with this news.
Many baby boomers have had their retirement plans cut because of company bankruptcies or through fraudulent practices like those with Enron. Many of these boomers will turn to self employment, and offer the same services a company would have hired someone for, as contractors.
These highly skilled and experienced contractors could make it a little difficult for new graduates looking for employment, as companies don't need to provide benefits, worker's compensation, or retirement plans to contractors.
Posted 3 months ago # -
Excellent point, Diana. I also think the lagging economy for most large economies will have a negative impact on the job market.
Posted 3 months ago # -
Some companies might "split the baby" and rely on interns to fill jobs that were once filled by older, more expensive workers.
Offering the possibility of full time employment after an internship is completed may be enough motivation for some young people to accept lower pay for the same work the regular employees do!
Posted 3 months ago # -
Diana, you are so right! Some Baby Boomers are forced out of the work force, I was one of them. I made a good salary and worked as an editorial supervisor for almost 15 years.
My company started firing people and hiring temps instead because they cost less to pay than permanent employees and the company didn't have to pay for health benefits.
Eventually I was let go too! But I started my own editorial practice and I'm just fine. I have many years of experience behind me. That company lost a lot when they let me go. I'm sure there are many Baby Boomers with the same story.
Posted 2 months ago #
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