Well if you are looking to start a career this news will make scant impression on you.
The 1990 recession ended when you had a “proper” job – I still think many people who graduated in the early 90s are still feeling the affects of their bad timing at being born some 20 years earlier. Can do better next time if he applies himself.
The 90s recession ended in about 1997 if truth be told for many people. Bill Clinton, new technology, the Internet easing communication and attracting investment, the start of de-regulation of US banks (which had been put in place by FDR in the 30s that helped create the worst recession since the 30s) all had a role to play.
The fact for many is that careers were missed, and why?, because in the case of the marketing industry there was a reluctance to develop people – give them a chance. Of course some made it nevertheless, but the industry was unwelcoming and expected 21 years experience and candidates to be 20 years old.
I can only hope that the recovery does not exclude vast swathes of able people, but it will.
It is time for business to recognise that talent does not come from doing a marketing degree or experience only. There is a lot to be said for determination, personal characteristics such as being sociable, open to learning.
For professionals that have lost their jobs who are on the other side of the age divide, there is no reason why some businesses should discriminate – it is the person, not the age that counts.
What am I saying: the world is unfair?
It is true.
What I am saying is:
Treat people with respect – there will be too many graduates wanting a career where there are too few openings and some HR departments will enjoy thinking they are of a higher power. It is the personal characteristics that I think make a good marketer, but can you spot these and are they developed when you are a new graduate?
If you want a career in PR or marketing, the chances are you will succeed if you are determined and what might seem a bleak age now will dissolve away in time. Give yourself time and accept support when going through the often bleak process of finding a job.
I think I will tackle how to give yourself a real head start in an entry shortly – keep tuned