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Parent Category: Advanced News Lessons

Category: Culture Lessons

Written by Chris Cotter

Much has been said about the current economic climate, as doom-and-gloom scenarios abound. There are home foreclosures, dwindling savings, and bankruptcies. Yet little has been said about the long-term effects the current woes will have on the youth of today. At least, this is until now.

The Millennials are perhaps in for the biggest shock, as they have grown up with promises of plenty throughout childhood. Unfortunately, as these twenty-somethings now enter the job market or attempt to trade up their current positions, the jobs available stand in stark contrast with their loftyexpectations. The prospects are abysmal. Current career decisions could have a lasting impact, affecting career success and earning potential for years. What's more, having been coddled and protected, a great many may resent to some extent their parents for raising them with the notion that success was a matter-of-fact guarantee.

The youngest children may experience the most profound effects. Although likely unable to express what's transpiring in words, they nevertheless notice their parents' fears and anxieties regarding money. These children will then see the world less rosily than their teenage and twenty-something peers and siblings. They will assess the world with greater caution, ultimately affecting career choices and financial decisions.

As for teenagers, they have known both the promises given to the Millennials and the hardships now being ingrained in young children. Therefore they better understand the current sense of loss, and may make vows to prevent something similar affecting them again. Teens will pay more attention to the economy and business than in the past, which will affect their studies at college and their careers. This age group will also lose confidence in the general idea that children live better, more prosperous lives than their parents.