I’ve written before about my belief that based on the dual mandate of the Fed to maintain both high employment and inflation protection, rates will stay low for far longer than anyone imagines. We are entering a structural era of high unemployment where the jobs normally ceded by retirees are not developing due to socio-economic phenomenon. This article elaborates on my thesis.
By Quentin Fottrell
After four years of college, many graduates are ending up in jobs that only require the ability to operate a cash register with a smile.Shutterstock.comAfter commencement, a growing number young people say they have no choice but to take low-skilled jobs, according to a survey released this week. And while 63% of “Generation Y” workers — those age 18 to 29 — have a bachelor’s degree, the majority of the jobs taken by graduates don’t require one, according to an online survey of 500,000 young workers carried out between July 2011 and July 2012 by PayScale.com, a company that collects data on salaries, and Millennial Branding, a research and management consulting firm.
via Trading Caps and Gowns for Mops – Real-Time Advice – SmartMoney.