The job market for millennials is getting worse as more young workers report the return of underemployment.
That’s just in time for recent college graduates to feel the pain of their older peers.
“More and more millennials—51 percent in 2016, compared to 41 percent in 2013—report being underemployed, according to a recent survey conducted by Accenture,” Ashley Stahl wrote for Forbes.
That’s better than getting stuck as young and unemployed, but it’s a sign that young workers aren’t being utilized to their fullest potential — or their skills. Faced with a rough labor market, millennials have taken temporary jobs or ones that are less than ideal to get their foot in the door or pay rent.
It’s not a sign that millennials have gone into college without thinking of their economic futures either. Accenture found that 79 percent of students considered the job market when picking a major, and 77 percent felt prepared for their job.
“Millennials know what they want. They just don’t know how to get it. Or perhaps employers haven’t yet figured out how to give them what they want,” Stahl noted.
Economic reality that could mean a millennial recession has hampered their goals.
The news isn’t all bad. Underemployment has its benefits, after all. Underemployment can lead to an unexpected career, and young workers generally transition out of it and into a job that fits their skill and education level within a few years. The barista with a B.A. is a trope more than an actual person.
Underemployment also encourages job-hopping. Young workers are more willing to look for a better job when they’re less satisfied, and youth mobility can boost the economy by moving labor to its most highly valued use. Job-hopping is one of the best millennial trends around.
