The latest survey results show that the unemployment rate amongst young American has shot to an all time high. In the 16-to-24 year old age group, unemployment is estimated to be 47%. While it's not good news for the nation's youth, it's great news for the PHB's and companies out there.
There's a glut of workers on the market all competing for a limited pool of jobs. That creates hordes of young workers--many college graduates--who are desperate for work. Now is a good time to hire. The market has a glut of naive young workers with no distracting family life, acclimation to pulling all nighters, and no choice but to accept whatever job is available. You can now easily hire labor to work your 60-80 hour weeks and pay them next to nothing.
There's a glut of workers on the market all competing for a limited pool of jobs. That creates hordes of young workers--many college graduates--who are desperate for work. Now is a good time to hire. The market has a glut of naive young workers with no distracting family life, acclimation to pulling all nighters, and no choice but to accept whatever job is available. You can now easily hire labor to work your 60-80 hour weeks and pay them next to nothing.
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