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When pensions were removed
Rising Star
Great point! My son, nieces, and nephews will have to create their own retirement account because gone are the companies that offer pensions.
Yeah, the unfortunate truth is that even if you're someone who values those things, companies don't anymore. I've seen so many loyal, hardworking employees get canned because of some BS reason or another (usually the company's attempt to cut corners or save money). And sure you can blame social media or this or that but back in the day you could actually work at a company for 30+ years and know that your job is secure. Also in this economy making ends meet is harder than ever and with companies offering pathetic wages to people with advanced degrees is it any surprise that people are working 2+ jobs just to pay rent? It's just a rough world out there and I don't see any signs of things getting better unfortunately.
Rising Star
Very true and I think companies are now more focused on profits, while sacrificing talented employees who gave their blood, sweat and tears. Perhaps that's also why the younger generations job hop.
If it wasn’t the 1980s. Really think it was the tech bubble/ Enron crash in late 1990/2000.
As an older millennial, I watched my parents laid off for years because of re-organizations and stuff. And then graduating in 2007-2009 when I could only find 2-3 part-time jobs with a bachelors and then with a masters, I could only find work with 49k.
I’m just now making what I should have been making with my education. But now im behind in comparison to the 2019 salaries.
I’m not oe, but I’m trying to get ahead in other ways.
Rising Star
It's all in the timing. I guess you can call it luck, but I was placed as a temporary employee and then hired when pensions were still offered. I pledged my loyalty and set goals. Unfortunately, pensions are no longer offered to new hires, and the salaries are lower to the point that affects long-term retention.
I think the whole decline began in the 1980s, when the middle class began to be obliterated. Up to that point people could have a reasonable standard of living and the wealth disparities were not nearly as extreme as they've become. People stopped feeling like anyone was loyal to them, so they stopped being loyal. And there are other factors accelerating societal decline, including social media sowing discord and disinformation.