New college graduates to face job market challenges

The upcoming generation of college graduates may have a rude awakening when they enter the job market.

Features of the labor market that our parents took for granted such as benefits, job security and a guaranteed promotion, are most likely a thing of the past.

Some researchers - most notably Peter Capelli in his 1999 book "The New Deal at Work: Managing the Market Driven Workforce" - even imply these features themselves were an anomaly.

Like most kids that grew up in America during the '80s, I consider the accomplishments of my parents' generation as my model for success. I planned on finding a job and sticking with it until I moved up the ladder - going from rags to riches in a story that could happen in America.

I thought that was the way things worked.

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