Comment Re:If it makes you feel better (Score 1) 23
Keeping a Job
Often senior employees figure out a secret business process and don't document / tell anyone else in the company about it. This secret business process means that the person must be kept around. The business disruption caused by firing them is too high.
Other times, people just make busy work to look like they are busy. Sometimes it is at an individual level. In other cases, it can happen collectively. Carl Icahn has this crazy story about letting go 12 floors of people when he couldn't figure out what they actually did.
Young People Finding Work
Young people not being able to find new jobs is about job creation and skills mismatch. Business wise, creating new jobs is very different than trying to keep existing employees productive and motivated. Keeping an existing business running involves minimizing change and minimizing the impact of inevitable change. Expanding and creating new jobs requires finding new profitable opportunities, hiring new people, buying new equipment, and lots of other steps. It is really hard to do successfully, and magic when it happens.
Young people have historically done much of this for themselves, as they are the only people willing to work hard enough to do it. If young people's expenses are so high that they can hardly make ends meet, then they won't work on the "next big new idea". Student debt and high housing prices kills new job creation. it means that the new business leaders have no money left to create the opportunities to create job growth. Nothing kills off job growth as effectively as too much debt. The founding fathers prioritized free public education for good reasons.