Economy doesn't halt younger worker initiatives

05.16.09
By Nicholas Storie

With many families worrying about making home loan payments, finding a way to send kids to college and generally managing personal finances on an increasingly tight budget, some younger workers are unfazed by the current economy.

In the latest Spherion Employee Confidence Index, overall belief in the economy and the employment situation inched higher as more consumers expressed optimistic views.

Confidence may be strongest among some of the youngest member of the workforce. According to the index, 45 percent of workers between the ages of 18 and 34 expect to look for a new job in the next year.

This news may be surprising given the rising national unemployment number and the feeling among the 20 percent workers surveyed between ages 45 and 54 who feel it is "likely" they will lose their job over the course of the year.

Perhaps the younger generation is undaunted by the job search in this market because they have not yet purchased a home, for example, requiring monthly mortgage payments and ongoing maintenance that can be rather costly.

A recent survey by the American Institute of Certified Public Accountants revealed that more individuals are postponing buying a house, marriage and having kids until financial conditions improve.

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Younger workers set to look for a new job