Thoughts While Working in NYC

I consider myself rather lucky getting an internship this summer because a lot of fellow college sophomores could not. They had to either work a regular paying job (which is not bad at all) or volunteer like we use to in high school. Obviously, an internship is not something that everyone is looking for and many of us couldn't take the positions we've been offered because they are either unpaid or some other logistic didn't work out.

What caught my attention is that although employment rates have been decreasing slightly among the general public, teenage unemployment has been on the rise. Checkout this article in the NYTimes where a graph plots out the population and unemployment data for 16-19 year-olds.

According to the article, "The unemployment rate for the 16-to-24 age group reached a record 19.6 percent in April, double the national average."

Obviously, it's not just the adults who get the shit end of the stick - companies are also decreasing their investment in future talent as well. As an IRLie, I cannot help but point out that this economic behavior is contradictory to what modern HR practices recommend because right now is actually a great time to lock up future talent. In layman's terms, buy low so you can sell high.

I understand that many businesses and corporations are running low on operating cash but it really doesn't take that much to hire an intern. You can probably get most of them for free or at a margin much lower than years before. Why are you passing up the opportunity?