How the recession will affect my generation

I ran across an interesting guest post over at Consumerism Commentary where Penelope Trunk claims Generation Y is already recession proof.  I already wrote before that I don’t believe in recession-proofing, or at least, I don’t believe that it is much different than being financially responsible in the first place.  Her article explains why the recession may pass by without too much harm for me and many in my generation.

Like many my age, I don’t own a home, so I’m not losing any equity.  Despite my worries about my job, it is completely true that the industry really needs to get us young people trained, and I don’t seriously think that my job is in jeopardy.  While I am not sold on her suggestion of changing jobs every two years, I do agree that there is little company loyalty and one layoff doesn’t mean your life is over.  [My dream is to work at my company the next 4 years, then T and I will move abroad for awhile. If my company has international openings, I'm not unwilling to stay longer. ]

Our generation certainly isn’t completely recession proof, but we are better off than many others.  It may still be hard to find a job in a down market, particularly if you are brand new to a career.  Even with the demand for young talent, it seems my department has slowed down their new grad recruiting for the time being.  Fellow 20somethings, have you noticed any “recession” in your life?

I did want to point out this article, but I also wanted to say this:  After the Baby Boomers, they couldn’t think of a name for the next generation, so they called them Generation X.  We still didn’t have any ideas for their offspring, so they are generation Y.  At least a few sources tell me that the following is Generation Z!  It seems we are going to have to come up with an actual name for the next generation!