The news is grim – every month, 125,000 people enter the labor force, most of them young, and not enough jobs are not being created for them.

The Brookings Institute’s Hamilton Project found that because so few jobs are being created, and so many workers young and old are tenaciously clinging to the jobs they already have, the change in the employment-to-population ratio is worst for those in 16-to-19 age range, and second worst for those in the 20-24 range.

Graduating into the teeth of a recession, studies have found, means that young workers will earn more than 15 percent less per year than peers graduating in good times. That adds up to about $70,000 over the next decade.

The news looking forward isn’t good, either. Currently, the "job gap" – the number of jobs the economy needs to add to reach pre-recession levels – will take twelve years to close if the economy adds jobs at a monthly rate of 208,000 per month (the best rate in the past decade).

Since the economy is currently losing jobs every month, that recovery is a long way off.

A large number of well-paid construction and manufacturing jobs have been eliminated, replaced with jobs in the service industry and administrative work. The fastest-growing job category, according to a Massachusetts Institute of Technology study cited by the Times, was "Administrative, support, waste management and remedial services" with a median hourly wage of $12.76.

This category has added 208,000 positions since December 2009. Construction, with a median wage of $19.24, has shed 123,000 positions, while finance and insurance jobs have declined by 54,000.

People in top managerial jobs are doing well, and opportunities, such as they are, remain open on the bottom of the heap. It’s the "broad middle" that’s taken the hardest hit – what David Autor, the labor economist who compiled the MIT study, called "middle-skill, middle-wage" positions.

Chelsea Nelson, a former secretary who now makes a bit more than minimum wage working as a waitress at an Arkansas truck stop, told the Times reporter "I don’t know, with the jobs we have, if we’re ever going to be able to make it on our own."

Manufacturing jobs nationally increased by 36,000, marking the seventh consecutive month of gains. General Motors – which is on the verge of its (second) initial public offering – didn’t even shut down factories for the summer, when it typically retools its equipment.

Overall, the economic recovery remains weak and uneven – though the jobless rate nationally remains stuck at 9.5 percent, there are huge variations. Nevada has nearly 15 percent employment, while in North Dakota, it’s just 3.6 percent.

If you’re a young worker thinking about buying a house, you may want to wait – consumer sentiment on the real estate market is turning negative again. With unemployment so high, many houses are going for a song – but it’s likely that if conditions worsen, they’ll drop in price again.

How do you cope in a time of increasing unemployment? When the economy stutters, it becomes more likely that you or people close to you will lose your job, no matter how well it may be going. If a company cannot generate sales, it will cut staff.

If you think your job or your hours might be in jeopardy, the first thing to do is find out about the true situation of your company. A good manager will be willing to talk honestly, and you might find that your fears are unwarranted.

It also means that it’s a good time to start working a bit harder, putting in extra hours and staying late. Seniority aside, less productive workers are likely to go before dedicated employees.

Cut back on unnecessary costs at home, and focus on the fundamentals: housing, food and paying your debts.

Finally, and perhaps counterintuitively – keep your lines of communication open, and stay social. In the past, people survived tough economic times by banding together and cooperating. Americans are more atomized from each other than ever, but when the going gets tough, a strong social support group will help people pull through.

A new path to adulthood: That’s the theme of a new article in the New York Times Sunday Magazine. Not a new one, perhaps, but an important one – backed by several key figures.

The lives of young people, rich and poor, are volatile. A third of people in their 20s live in a new place every year, says the Times; 40 percent will move back home to live with their parents. Young people hold an average of seven jobs during these formative years, and they don’t get married until an average age of 26, for women, or 28, for men.

Some of the change comes from broad social shifts. A college education is necessary for many fields, yet more expensive than ever, so the young have debt. Shifts in sexual mores and practices mean that childbearing is delayed.

As the Times article rightly points out, this is only partly a new phenomenon. Shifts in life expectancy, health, education and social structures created adolescence in the 20th century, a previously non-existent gap between childhood and adult life.

The new paradigm has good sides – people experiment, learn and experience more – and bad ones, as well, as increased dependence on parents helps maintain the income and class gap, because rich parents obviously have more to give.

However the new generation matures – and how they deal with the economic turmoil – they will be faced with bringing the U.S. fully into the new millennium. Hence, perhaps, the other name for Gen Y – Millennials.

We may still be in a recession. Fortunately,  these are companies that have created growth industries, or are innovative enough to redefine an industry. Businesses range from those in energy to personal finance. Some a service related, some are manufacturers. The list is so varied it’s inspiring.

Locations also vary widely. The top 10 metro areas on the list:

10. Houston, TX
9. Philadelphia, PA
8. San Francisco, CA
7. Dallas-Fort Worth, TX
6. Atlanta, GA
5. Boston, MA
4. Chicago, IL
3. Los Angeles, CA
2. Washington, D.C.
1. New York City, NY

That’s good news for job hunters. Almost anywhere in this country you can find a growing company.

Many of us play it small because taking a risk actually magnifies a lot of the fear we have created around new experiences. The most common fears are: making a mistake, failure, or rejection. So we think about making that step forward, but our fear overtakes us and we conclude that maybe the risk is not worth it. So we do nothing, all the while secretly craving to have the bravery move forward with our plans.

Only you can know what risks are worth taking. When you are evaluating whether you should take a risk, there are some things you should consider.

• Look at the thoughts that are going through your mind when you see yourself taking action. Do they feel freeing or frightening?
• If they feel freeing, this may be an indication that you are following the right path.
• If they feel frightening, examine what you are thinking that is fueling the fear.
• When you find the source of the fear, ask yourself if the thought is true? In other words, are the doomsday scenarios you’ve created realistic?
• Make a pro and con list. Detail all the positive benefits of taking the risk on one list and all of the possible drawbacks on another. Compare the list.
• Recognize the possibilities of the con list and create solutions for the “what ifs”. Knowing that you can handle the outcome no matter what, will give you a greater sense of confidence.

After you’ve spent some time examining your thoughts and how they are affecting your actions, ask yourself this question: if you don’t do it, how will you feel in 6 months, 1 year, or 5 years from now? If it feels scarier looking into the future without having done it, your hesitation may be coming from fear. Ease into the action, give yourself the time to feel confident with your decision and ready to accept any outcome.

Laura Tirello is a Career and Life Coach. Her company, Core Life Design, works with people who are looking to find their highest potential both in their careers and personal lives. Are you looking for ways to turn your ideas into goals? Get a copy of my *free* special report: “5 Ways to Eliminate Idea Overwhelm”. Visit corelifedesign.com for more information. Laura can be contacted at Laura@corelifedesign.com

TatooID

Industry:

Paper manufacturing

Founder Name:

Steven Gordon

Founder’s age when company was started:

17 (now 18 years old)

Tell us about your background (education, etc)

Graduated from Brooklyn Tech in June. Grew up in Brooklyn. Will start at Hunter College in the fall, majoring in nursing.

Tell us about your company and your inspiration for starting it.

Last summer, my four year old brother and I would be outside playing, and if I turned around for a second he’d be running away down the block. Even though I always caught up to him, that moment of panic stayed with me. I took a NFTE BizCamp last summer and knew I had to come up with a business idea, and I thought up the concept that would become TattooID. In addition to keeping kids safe, it’s also a fun thing for kids – for them, safety isn’t about fun, but this is a fun way for them to stay safe.

Bootstrap or Funding? Bootstrap. I’ve used some of the prize money from NFTE competitions that I’ve won to help fund my business, but I don’t have investors.

Describe any major challenges overcome or difficult decisions while you built your business.

It’s really hard to build a team and find people who are dependable. Trust is sometimes an issue too. My success in competitions has allowed me to get some attention for my business, but sometimes you don’t always know what people’s intentions are. Keeping myself surrounded by people I know and trust is really important to me. Marketing is also a challenge – figuring out how to get the word out about my business. In terms of product development – figuring out how to waterproof my product is the thing I’m trying to figure out now.

What surprised you the most?

Starting a business isn’t as difficult as the success stories tell you it is. People talk about staying up all night for weeks. For me, I went online, did some research, and found a niche. It was about identifying a need and finding a way to fulfill it.

What would you do differently?

I would have moved faster. As a student, in my senior year of high school, I was moving slowly with my business, because I had so many other things to think about.  What took me a year to do probably could have been done in about 3 months if I had had time to focus. The other thing I would have done differently is I would have started marketing my product earlier. I didn’t realize that part would take so long to build up.

Is this your first business? Yes.

How many employees do you have? I have an intern.

What has been your most effective marketing technique or tactic?

Definitely giving out free samples – you give them out and people say “wow, this actually works!” There’s nothing like seeing for yourself that a product does what it says it will.

What effect has the recession had on your business? No, because child safety is always an issue.

If you could offer one piece of concrete advice to other people, what would it be?

Really find people with the same interests as you – nothing is a solo effort, you need people behind you to accomplish things.

Best book you’ve read recently? Accidental Billionaires, it’s about the founding of Facebook.

All time favorite TV series? The Apprentice –  my parents watched it every Sunday night, it was a staple in our house.

The Network for Teaching Entrepreneurship (NFTE), is a global nonprofit that provides youth from low-income communities with entrepreneurial education sponsored The Advanced Entrepreneurship Seminar July 16th through Friday July 23rd. The Advanced Entrepreneurship Seminar was an intensive week-long program to teach kids the skills to strengthen their current business plans to make them operational. The program uses a case study format and interactive lesson plans and is taught by 2 of NFTE’s top Certified Entrepreneurship Instructors; Jamila Payne and Kene Turner. The students also met with executives from Virgin Management USA like Julie Cottineau, who is Virgin Management USA’s Brand Director, executives from Virgin Unite, and former Virgin Management staffers who have left to become entrepreneurs.

Steven Gordon, 18, is the creator of TattooID, in New York was the winner of the AES seminar and he will be competing in NFTE’s annual National Business Plan Competition in New York on October 5th.  His company produces temporary safety tattoos (www.thetattooid.com ) with the child’s initials and parent’s phone number to help recover lost children.  Developing his product turned out to be Steven’s biggest challenge as he had to spend time ordering tattoo paper from all over the world until he finally found a good paper manufacturer that let him order samples. Steven is very grateful for the opportunity to have met so many insightful mentors through NFTE, and he looks forward to competing at the national business plan competition this fall.

Student Loans Here is a big one. College students who are not supported by family and friends often turn to loans. Many of my peers have massive loans and mentioned that they were clueless when they signed up for them. One friend let her mother handle her loans and racked up over $90,000 over four years for a nursing degree and she was working every year. Before starting college take a moment to understand the entirety of what a student loan entails. How much do you actually need, what is the interest rate, how much will you be paying monthly once you graduate, and understanding forbearance and deferment. I believe the thought process for somewhat aware students is that they will just take the greater amount and whatever they don’t use they will just put it back toward the loan, however, that money always seem to find a better home. Understand student loans, do not take all they offer unless you really need it and look at all your options before selecting which student loans to take.

Work – My dad pounded into my head from my freshmen year of high school that I would be paying for college by myself and that loans were the devil. So from the moment I turned sixteen I started working while doing well in school. The summer between high school and college I was working seventy to eighty hour work weeks and continued working twenty to thirty hours a week throughout my entire education. Now, working far more than the average student didn’t mean I was without loans, but they were far less than my peers. Working and more often than just a few hours during college keeps you engaged, looks great on the resume and helps you stay focused on the present and the future. I was able to put myself in a very comfortable situation after graduating. There is a comfort zone though. Do not think that you are going to do one better and start working fifty hours a week while being a full time student. You will miss out on some great experiences and some great networking opportunities.

Nothing is Guaranteed – I know several very intelligent recent graduates that have been looking for a job without any luck for well over a year now. These are people who took out giant loans and bought merchandise they couldn’t afford at the time because they would soon be swimming in cash. Well they aren’t swimming in cash, but debt and some of them are doing it while living in their parent’s basement. Try to plan based on what you have or even less than what you have and not on what you think you will one day have.

This guest post is contributed by Cody at TheMillionDollarMission, he writes on the topics of Personal Finance, Success and Career Development.

The report suggests a few possible explanations. There’s a certain amount of rigidity baked into the labor market, thanks to high homeownership rates and the current woes of the real estate market. People are trapped in underwater mortgages, stuck in one – often economically depressed – place, and unable to sell out and leave.

Some economists believe that extended unemployment benefits reduce the size of the available labor force, as people lack the incentive to exhaustively search for jobs.

There are also structural shifts in the labor market, says the Journal: Many jobs in the "broad middle," including support staff and management, were trimmed as the economy faltered. These people don’t qualify for highly skilled jobs but have troubled adjusting to work on the bottom tiers of the service economy.

"This is as bad now as at the height of business back in the 1990s," Dan Cunningham, chief executive of the Long-Stanton Manufacturing Co., told the Journal. Cunningham is trying to hire toolmakers. "It’s bizarre. We are just not getting applicants."