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News Link • Employment & Jobs

American Dream Fades for Generation Y Professionals

•, By Elliot Blair Smith
 The 32-year-old lawyer sold skin-care products in Houston before finding work as the assistant general counsel of afutures-trading firm where an irate customer punctuated a recorded voice-mail message with gunfire.
“No one was left with the impression that he just happened to be phoning from a sporting clays range,” she says.

Eighteen months and two busted jobs later, the daughter of a retired physician and a former editor at Vogue circled back to upstate New York and hunkered down at a small legal office that pays about one-quarter of her former $165,000 salary.

Generation Y professionals entering the workforce are finding careers that once were gateways to high pay and upwardly mobile lives turning into detours and dead ends. Average incomesfor individuals ages 25 to 34 have fallen 8 percent, double the adult population’s total drop, since the recession began in December 2007. Their unemployment rate remains stuck one-half to 1 percentage point above the national figure.

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