Global Economic Crisis - What does it mean for Gen-Y?

One of the things that defines Gen-Y is the fact that we have grown up only knowing prosperity - we have entered a workplace where we expect to get the job we want, be shown high recognition for what we do and get promoted super fast....

But what happens now there are no jobs? That we might lose our jobs? That we might not get always exactly what we want...something as a generation we are far than used to.