In his latest New York Times opinion piece, Herbert writes:
"There were not enough jobs to go around before the recession took hold. So the young, the poor and the poorly educated were already suffering. Now that pool of suffering is rapidly expanding.This has ominous long-term implications for the country. The economy cannot perform well with such a large cohort of young people condemned to marginal economic status."
So what are these new young, unemployed going to do? I'm guessing they're will be a great proliferation of blogs and quite a few more twenty-something one-woman or one-man consulting firms.
The nonprofit sector may still offer more job security than much of the private sector, but my gut tells me lag-time is the only thing working in our favor now. Once individual, corporate, and foundation giving fully contracts as books turn over into their next respective fiscal years, this will hit nonprofit bottom lines just as hard.
Hold onto your hats, young nonprofiteers.