Quarter-Life Crisis and the Recession
Twenty-Somethings Hard Hit By 2009 Recession, Says Study
When Alexandra Robbins popularized the term “quarter life crisis” in her landmark book of the same name, it was 2004, and the economy – briefly disrupted by 9/11 – was strong and prosperous.
In 2009, with the global economy in upheaval, millions of new and recent graduates, twenty-somethings and early thirty-somethings find themselves facing fresh challenges and questions about their places in the world.
Whereas before, questions like "Will I ever find my dream job?" "My soulmate?" "Will I ever make it?" may have been regarded as the product of sloth and decadence, the recession now gives an urgent new relevance to these important questions of what really matters to the current generation of quarter-lifers. Twenty-somethings are truly facing a whole new quarter-life crisis.
Twenty-Somethings Statistically More Hurt by Recession
According to the D.C.-based Economic Policy Institute (EPI), twenty-somethings face a particularly tough time finding employment in this recession.
EPI figures for unemployment the first quarter of 2009 show that while 7.6% of Americans aged 25-54 years are unemployed, the figure doubles to over 16.3% for those aged 16 to 24 years old. Given that so many people in their mid-twenties were having trouble maintaining employment during prosperous times – indeed, the average person now averages about 6 to 8 jobs on a resume by age 25 – it’s obvious that the younger you are on that 25 to 54-year spectrum, the more likely you are out of work.
Given that two big elements of the quarter-life crisis involve finding a meaningful career in a field that one loves, and fear of irrelevance in a cold, economically-driven society, the recession amplifies existing anxiety and puts those lofty goals of fulfillment even more out of reach.
Insufficient Funds to Accomplish Life Goals
Without sufficient funds, quarter-lifers don’t have enough to accomplish many of their other goals. How do you, for example, stay in the dating circuit if you have no money? How do you pay for those overseas travels, those journeys that help you discover and re-create yourself after graduation? Quite simply, how do you move out of your parents’ house? Pay the rent?
Prior to the recession, those experiencing a quarter-life crisis spent their days trying to grow themselves, while in 2009, early twenty-somethings just starting out today just hope to survive. This means a delayed childhood in many respects, a continuation of the college lifestyle of cheap dates and Big Macs, ”staycations” and video games as they try to find comfort and security in a very indifferent, very hostile world, all of their greater “grown-up” ambitions delayed until the economy recovers.
The Opportunity in the Quarter-Life Crisis
To use a cliché, the Chinese word for “crisis” doubles as “opportunity” in many uses, and as such, this recession can enable millions of twenty-somethings to make use of their “quarter-life opportunity.”
By staying in school, exploring odd stop-gap jobs, taking the chance on arts ambitions like acting or writing, joining clubs and even finding jobs abroad, quarter-lifers can use this time to really decide on what they value in life outside of money. They need not become a “lost generation” like the one that befell Japan only a couple of decades ago, but have the potential to become a “found generation” of values-driven, confident young men and women for whom wealth comes in more forms than just cold, hard cash.
Beyond that, the quarter-life opportunity exists to create relationships that aren’t based solely on the old superficial materialistic symbols to which many have become accustomed. These relationships – romantic and otherwise – will reshape North American society, as previous generations have, and help quarter-lifers move forward in meaningful ways on other issues – climate change, international relations, faith, science – that quarter-lifers will inherit as they grow into their thirties and beyond.
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