Job Outlook and Unpaid Internships Harrison Lien, Jane Cho, Jane Kim

Introduction  1 st Article- “No one should have to work for free: Is this the end of the unpaid internship?” - Nona Willis Aronowitz  2 nd 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 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 % 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

Quiz 1. 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, 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