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Let's first talk about Generation Y
http://en.wikipedia.org/wiki/Generation_Y
I find stats here some controversial but I'll quote some:
This generation is also sometimes referred to as the Boomerang Generation or Peter Pan Generation, because of the members' perceived penchant for delaying some rites of passage into adulthood, longer periods than most generations before them. These labels were also a reference to a trend toward members living with their parents for longer than previous generations.[56]

Generation Y also saw the highest divorce rates of their parents, was the highest amount of children in foster care programs, and the highest amounts of child abuse cases in U.S. history.

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Worldwide, Generation Y is considered slightly less religious than the generations before, and far less trusting of the major religious institutions... though they are more likely to be sceptical of religious institutions

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As a group, Generation Y are said to be much closer to their parents than their parents' generation,

I wouldn't call it "closeness" I would rather call it dependency,
And why:
The primary cause of this increased trend can be defined in economic terms.[58] Economic crises, including the dot-com bubble in 2000, and the United States housing bubble that led to the Financial crisis of 2007-2010 have made paying market-level rent, or any rent, difficult for a generation riddled with high unemployment levels.[59]
However, economics is not the only explanation. Questions regarding a clear definition of what it means to be an adult also impacts a debate about delayed transitions into adulthood.
... some Millennials are delaying the transition from childhood to adulthood as a response to mistakes made by their parents. "In prior generations, you get married and you start a career and you do that immediately. What young people today are seeing is that approach has led to divorces, to people unhappy with their careers ... The majority want to get married [...] they just want to do it right the first time, the same thing with their careers."[60]

And time passes by and their chances are slimmer. I would call this "being afraid to bite in to the life"
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Pairing with the economic situation which Generation Y is starting up in, jobs are simply taken by the Baby Boomers and Generation X. The need to keep working and the aging work-force keep members of Generation Y less employed than any other generation before them. This is not due to a lack of seizing the rites of passage, as they are more educated than most that came before them.[61]

Interesting point.
The rise of instant communication technologies made possible through use of the internet, such as email, texting, and IM and new media used through websites like YouTube and social networking sites like Facebook, MySpace, and Twitter, may explain the Millennials' reputation for being somewhat peer-oriented due to easier facilitation of communication through technology ... Expression and acceptance has been highly important to this generation. In well-developed nations,

As good as this may sound, this made them actually less communicative in real world, in my opinion. Yes they are peer-oriented and I do not find this particularly good because they are missing on wisdom and problem solving advices of older generation.
This also made them shy from real world and made them more exposed to fantasies of virtual (not actual) world.
innovations in technology mean the Millennials have access to more media on demand than any previous generation and have forced the media industry to adapt to new business models.
... Generation Y grew up in the aftermath of changes in musical culture which occurred during the 1990s and early 2000s.[72]
...

which describes the Millennial generation as "civic minded," rejecting the attitudes of the Baby Boomers and Generation X.[75] However Generation Y has also been described as entitled, individualistic and lazy, akin to the image of the Baby Boomers, due to their sheltered upbringing.[76][77]

Sheltered upbringing...I do believe that this is a mean mistake we/parents made. And this is what made them so dependant (not necessarily economically) on many levels . It's not (only) about them asking for parents help when in crises (this would be normal) but this made them incapable of making  right decisions  when in crises ...or making decisions at all. They are "sitting on the brim of the ocean waiting for tide to bring something in"...
Several governments have instituted major youth employment schemes out of fear of social unrest due to the dramatically increased rates of youth unemployment... In 2009 leading commentators began to worry about the long term social and economic effects of the unemployment.

This wide unemployment is going to be a killer.
The Millennials are sometimes called the "Trophy Generation", or "Trophy Kids,"[84] a term that reflects the trend in competitive sports, as well as many other aspects of life, where mere participation is frequently enough for a reward. It has been reported that this is an issue in corporate environments.[84] Some employers are concerned that Millennials have too great expectations from the workplace.[85] Studies predict that Generation Y will switch jobs frequently, holding far more than Generation X due to their great expectations.[86] To address these new challenges, many large firms are currently studying the social and behaviorial patterns of Millennials and are trying to devise programs that decrease intergenerational estrangement, and increase relationships of reciprocal understanding between older employees and Millennials, while at the same time making Millennials more comfortable.

Great expectations...but... "mere participation is frequently enough for a reward". I so feel that this is big time our/parents fault. BUT also a fault of celebrity culture that is "nourished" so nicely in western (but lately also in other) societies.

This is a little bit to chew on for the moment. But we need to have a few words about Generation X too in this context.
More than 3 paragraphs quotation but I couldn't make it different...


Science without religion is lame, religion without science is blind...Albert Einstein

by vbo on Mon Aug 29th, 2011 at 09:45:58 PM EST
Any time I see an article saying "xxx is the worst it's been in U.S. history," I wonder how well they verified their history.

Young people living at home is not new, it's the conventional way of doing things. What's "different" is that last few decades where it went the other way and people kicked out their kids when they hit eighteen.

Youth unemployment isn't new, either. Or changes in technology driving changes in business models.

I'm not arguing your observations, I'm expressing frustration about ignoring how lousy things were back in the good old days and how people should not look at the past through rose-colored glasses.

by asdf on Wed Aug 31st, 2011 at 08:03:43 PM EST
[ Parent ]
vbo:
"mere participation is frequently enough for a reward". I so feel that this is big time our/parents fault.

i think this was an over-reaction to the hard, judgmental attitude so many baby boomers' parents had, and were consequently raised with, causing them (us) low self esteem.

this caused our generation of BB's to act out to insane levels, glutting ourselves on hedonism.  think jim morrison as role model, elvis on different drugs.

in music it's like the difference between artists like bonnie raitt, jackson browne, ry cooder using rock to enlighten people and give them some righteous entertainment at the same time, morphing into the dark side of maroons chewing off chicken heads on stage, making up like effete fops or vampires, pretending to consort with the devil, chucking tellies out of hotel windows and generally behaving like overgrown teenagers with arrested development and a poseur hate-on for the world, especially all authority.

huge difference... as the music went, so followed society.

then the nihilistic doom of punk, the deathrattle of thrash metal, the grinding monotony of rap, the febrile chatterings and bleepings of ambient house garridge d'n'b techno corporate rebel-my-ass rock you freaking name it...

death by a billion bytes!

sorry for the rant. back to your point. yes telling kids they're unconditionally perfect, praising them with no criticism, coddling their egos, no clear boundaries: all these lead to difficult confrontations with reality once the bubble bursts.

the 60's raised a lot of hopes for serious change, but just like with obama, these hopes have largely been vapourware. we were drunk with possibilities and the sheer numbers of our generation's wave, innocently trusting good faith would excuse all our ignorance, and while instinctively distrusting the system, and thus gleefully willing its demise sometimes, we hadn't done much homework and had no better system to raise in its place. so many distinguished dreams sputtered out of gas and fell by the wayside, there is a lot of buried sadness in our generation about this. we were the first raised on images as much as reality, TV was new, and had us by the short and curlies right away.

but a lot of joy, in all the crazy waste and confusion. definitely a tendency to spoil the next generation of kids though, either by under- or over- parenting. my perception of gen Y is they're underfed with idealism, there's a sort of void in the back of the eyes in that dept, again this is probably a reaction to idealism OD in the boomers when they were young and the future still seemed rosier.

mysteriously, some young people grow up balanced and focussed, aware of how crucially serious many situations have become, but not letting that rob them of their natural optimism and good attitude. great kudos to their parents... there's no more responsible job in all of creation. i remain hopeful on this count. they have to work around the steaming pile their ancestors left them, just like we did with the cold war and its attendant terrors, and generational PTSD.

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Wed Aug 31st, 2011 at 08:45:08 PM EST
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