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Don McNay

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Youth Unemployment: Is It The Bad Economy Or Inability To Overcome Adversity?

Posted: 08/18/2012 2:56 pm

"He that is good at making excuses is seldom good at making anything else."

- Benjamin Franklin

I have a young friend who has been looking hard for a job for several months. As time has gone on, he started looking at jobs far beneath his education and experience.

He is back for a second interview at a fast food restaurant. I didn't realize the economy has reached a point where fast food restaurants had gotten selective. I'm sure my friend will make it as he keeps trying and trying.

I have another young friend who is supposedly looking for work. His career path is currently based on mooching off his mother.

Unless someone knocks on his door and makes an offer, he is not going to get off the couch and find one.

Unemployment for young people is running about twice of the national average. The bad economy impacts people with lack of experience and there are some professions where supply far outweighs demand.

I wonder if young people understand how to deal with adversity.

I was unemployed 30 years ago. The economy was nearly as bad as it is now. I left graduate school at Vanderbilt to work for a candidate for Congress. He unexpectedly lost. Instead of a comfy job on Capitol Hill, I was thrown out on the streets.

I found a job on the cleanup crew at the Kentucky Horse Park.

It was the defining moment of my life.

When you are cleaning up after horses, it makes you consider different career options.

I realized that I never wanted to depend on someone else to hand me a job or control my future.

Thus I wound up in the financial business. I worked 90 hours a week, mastered a distinctive niche and celebrate my 30th anniversary next month.

It took me years to realize I have a unique ability: Tenacity. Whenever someone does a personality profile of me, the "Energizer Bunny" analogy comes up frequently.

I just keep going and going.

Knowing I will never give up gives me comfort and confidence. My relentless focus gets me through hard times.

It can drive people crazy. Especially if you are the one attempting to say no to me.

I can't turn my tenacity on and off. Sometimes that means I use time inefficiently.

I recently wasted five hours trying to get Time Warner Cable to do what they promised to do.

The local manager "Chris" was supposed to come to my house and solve the problem. Within the hour.

It's been two weeks. He's not coming. I should have immediately done what he truly wants me to do. Cancel the service and leave him alone. It would have given me five hours to do something else.

Overall, I consider my tenacity to be a core strength.

It has taken me decades to figure out that few have the driving ambition that I have.

For a long time, I thought that "can't find a job" meant they weren't really looking, not looking in the right places or not willing to take a job below their life expectations.

I look at youth unemployment and start to wonder if that holds true.

The fast food and service industries have normally been the "jobs of first resort." Twelve percent of all Americans have worked at McDonalds at some point in their lives. 1.4 million people work at Wal-Mart.

That those jobs are getting harder to come by tells me that this "recession," caused by the Wall Street collapse, bailouts and the inability of government to say no to special interests, is far from over.

I'm also wondering if you can teach young people to have tenacity, think "outside the box" and create opportunities for themselves.

If young people have been sheltered from overcoming failure, they may not understand that adversity ultimately leads to opportunity.

When I started in business, it was like the Bob Dylan song: "When you ain't got nothing, you got nothing to lose." I had plenty of time and needed little money.

I spent a lot of time doing volunteer work, which helped the community and allowed me to develop some great relationships.

If you are sitting at home watching reality shows, you aren't learning new skills, developing new relationships or putting yourself in a position to ultimately succeed.

I don't know if they teach determination and tenacity in school. I don't know if you can develop it if you don't have it.

If we are going to reduce unemployment among young people, somehow they are going to have to acquire the skill of working hard, never giving up and getting back up when you get knocked down.

I'm waiting for someone, running for anything, to start taking that issue on.

Don McNay, CLU, ChFC, MSFS, CSSC is the bestselling author of the books "Son of a Son of a Gambler: Winners, Losers and What to Do When You Win the Lottery" and "Wealth Without Wall Street." McNay, who lives in Richmond, Ky., is an award-winning financial columnist and Huffington Post contributor. You can learn more about him at www.donmcnay.com.

 
 
 

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"He that is good at making excuses is seldom good at making anything else." - Benjamin Franklin I have a young friend who has been looking hard for a job for several months. As time has gone on,...
"He that is good at making excuses is seldom good at making anything else." - Benjamin Franklin I have a young friend who has been looking hard for a job for several months. As time has gone on,...
 
 
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09:11 PM on 09/14/2012
Don,
You had me right up until the last sentence. How is government going to instill tenacity in your children? All they will teach them is dependence.
The rest of the article is great!
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Felicia Hunter
Health/Pets/Politics
05:42 PM on 08/21/2012
I am 23 years old. I graduated college in 2009 with a degree in Specialized Technology. In 2010 I had 2 jobs go out of business in a 6 month span. It took me till 2011 to find another job and that was only seasonal. Then in late 2011 I found another job at a Casino. I get double pneumonia 3 months after I begin working there. Was in and out of the hospital for months, and got fired because I could not make it back by the deadline they gave me, I was just to sick. Took me awhile to get well again, but I've been back on the job market for several months now. I have filled out apps for everything from camp counselor, retail, fast food, vet offices, etc. being in management positions I understand it's going to take someone with a heart to look past I only have held jobs for a few months at a time (to no fault of my own between jobs going out of business and almost dieing), so its going to take me awhile to find work.
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David Blobaum
ego maniac with inferiority complex
11:18 AM on 08/21/2012
Maybe these young people see the folly of worshiping the almighty dollar and the shiny symbols of the new definition of success ?

Maybe they understand time is relevant and more of a social agreement than a world wide race to fill the landfills with disposable crap no one really needs to live ?

Maybe they have decided the emptiness and moral degradation of today's corporate takeover of our purpose in life is a sham designed to allow the truly entitled and lazy folks to isolate their lineage from having to sweat or sacrifice anything to stay on top.

Let's face it, what we have made of our society is a grand lesson in hiding a bad motive under a good motive in order to back the notion that it's who you look like that matters, and not who you truly are.
09:50 AM on 08/21/2012
Well maybe if we raise the minumum wage again, we can have even more young people unemployed.
09:36 AM on 08/21/2012
No solutions or commentary is offered in this blog, it is just the ranting of an older gentleman. It may be convenient to believe that all young people sit around watching reality television while sucking every last penny from their parents, but it is not the case. I work forty hours a week at a non-profit while taking undergraduate courses two nights a week and working a part-time job. I made more money when I first entered the work force in 2002. I went from working two jobs at a time to a job that regularly required work weeks from 60-80 hours. After 2008, opportunities have completely vanished. Like many other young people, the only “tenacious” option I had was to focus more on my education. This has been extremely challenging because I’m making half of what I made in 2008 before my last company laid off most of its workers. Wages have been stagnant for 30 years now. So, while you may have your readers believe in your relentlessness and tenacity; the truth is that more opportunities were available to you and the cost of living was much lower. Please stop patting yourself on the back and instead try doing something to help a young person with their career in this horrible economic climate.
09:31 AM on 08/21/2012
I think it's just tough and the grey area between the hard workers and slackers grows larger by the minute.

Sometimes, an employer doesn't know if that guy who looks like he will give it his all will be a slacker and the slacker may turn out to be a great employee.

There is just too much fear out there and I believe that fear has been a huge impediment to hiring.

That along with the always present "greed" factor.
poguemahoney80
What fresh hell is this...
08:39 AM on 08/21/2012
I hate these sensationalist over generalizations: "These darn kids today..." There are lazy worthless people in every generation...and excellent people in every generation. It is stupid (or self-serving) to codemn a whole generation with a negative label; and I doubt if he worked 90 hours a week...maybe one week he did that, but not on a regular basis.
05:23 AM on 08/21/2012
I'm sorry Mr. McNay, but you're bring a little too idealistic, don't you think? I'm sick and tired of your generation viewing us as spoiled brats who don't know what struggle is. Please. This is exactly why were are in this mess in the first place. Instead of proactively looking for solutions together, we'd much rather blame each other. I don't see you offering any concrete solutions. "Working hard, never giving up and getting back up when you get knocked down," is just too easy to say. As if that's all it takes to make all our problems go away.
10:40 PM on 08/20/2012
These young people today are not nearly as wonderful as I was 30 years ago.What a blowhard.I am 60 years old,and can tell you getting jobs now is harder than any time in my working life.This article about"these kids today"is the same nonsense old people have have been spouting for generations.Not worth reading.
11:10 AM on 08/21/2012
I am age 61 and have been unemployed since Feb 2010. I have been actively seeking employment and have been open to any job. I can tell you although I cannot prove it, there is definitely age discrimination against mature person. To say that there is a problem of youth unemployment, is an over statement.
10:00 PM on 08/20/2012
Nearly 30 years and the economy was "nearly" as bad -horse hockey. Average is over.
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mabinog
My micro-bio is a desolate wasteland
08:53 PM on 08/20/2012
so is this a modern version of the "I had to walk ten miles uphill, to my one room school house, with stop off at the local saw mill where I worked an eight hour shift, losing parts of a couple of fingers, and then returning home the ten miles is waist deep snow, with a pack of wolves on my heels, tracking the blood from my severed fingers..........................
09:28 AM on 08/21/2012
You forgot to add "returning home the ten miles [all uphill] in waist deep snow"
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Rational Thought Plz
Is the Micro Bio Half
08:13 PM on 08/20/2012
I suppose it would be easier to make the EXCUSE that young people today are just lazy, rather than OWN UP to the fact that the generation before us set the country on the current path.
08:11 PM on 08/20/2012
Thank goodness i have disability to support my drugs and videogame habit instead of having to actually work
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Box500
Space can be recovered. Time, never.
08:04 PM on 08/20/2012
Does this fossil of a corporate buffoon live in a van down by the river?
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Malcontent21
I'm the last W.T.F.O.M.G factor
07:53 PM on 08/20/2012
The economy of old is gone and it isn't coming back that being said my generation is screwed to be honest I mean we know its all over. In this new economic paradigm all bets are off in respects to finding employment, education or experience no longer guarantee you a job and even if you have a job you can get the ax at any moment. When the economy implodes again far worse than it did in 2008 there is going to be massive layoffs and no one's job will be safe.