Job Outlook and Unpaid Internships

Harrison Lien, Jane Cho, Jane Kim

Introduction

1st Article- “No one should have to work for free: Is this the end of the unpaid internship?” - Nona Willis Aronowitz

2nd Article- “Generation of Debt”: Millennials battle persistent debt, jobless woes

- Michael Marks, Wes Martin

No one should have to work for free Non-profit organization

Interns Co-Op Universities now

requiring internships upon graduation

2012 study

-Middle/working class

-77% female

-Age range from 17-25

No one should have to work for free (continued) Black Swan Production

Case

-Since then more than 20 lawsuits emerged

Ruined reputation Lost connection Cost

Internships should be

1. Paid

2. Educational

3. Advertise openly

Generation of Debt Statistics 18 to 24 years of age are

10% less likely to have a job now

25 years and under are idling- 14.5% 18.1%

$1 trillion in student loans

( $1,000,000,000,000 )

( $ 461,000,000,000 )

The Millennial Struggle

College age millennials faces difficult job market

Ex: Kamna Tripathi

Millennials struggle in competitive job market

Experience > Skills

Demos, March 2014 - 49 states spend less per student

Less funding increase tuition

more debt for tuition

2008 – Average tuition increased by 20%

How much more are we paying now?

Tuition Overload

Economic Ripple

Debt + Unemployment + Low Wages = Ripple Effect throughout the Economy

Losses in Social Security funding-

$6.8 billion less

18 to 24 years of age moves back home

1 independent house = $145,000 of economic impact

Summary

Fair Pay Campaign-paid, educational, advertised openly

Ages 18 to 24 - 10% less likely to have jobs Economic Ripple Universities- less funding leads to increase of

tuition = more debt Ages 25 and under – 18.1% are idling

Quiz1. Millennials 25 years and under are __________, which

means they are neither searching for jobs nor attending school.

2. Universities have ____ funding for students for higher education. This in return had ________ tuition costs, which led to more and more debt incurred for tuition.

3. Between the ages of ___ and ___ are nearly 10% less likely to have a job now then they were a decade ago.

4. Describe 2 examples on how unemployment, debt, and low wages of the millennials create a ripple effect of the economy.

5. What are the 3 main points that the Fair Campaign Website states that makes up for a great internship? No Explanation required.

Quiz Answers

1. Idling

2. Cut/lower/decreased, increased

3. 18, 24

4. Millennials are not buying anything to give back to the economy. Losses in social security funding. Graduates move back home and do not create their own household.

5. Paid. Educational. Advertised openly