Teenpreneurs Are Creating Their Own Jobs

NYTimes.com:

Periods of high unemployment tend to be particularly hard on teenagers, who wind up competing for jobs with more experienced, laid-off adults.

When Faith Borden, 16, of Metuchen, N.J., applied for a job in March to be a counselor at a summer day camp, she looked around and saw “all these 30- and 40-year-olds,” she said. “Usually it’s just teenagers.”

She also applied at pizza restaurants, drugstores and most of the stores at her local mall, and even attended a job fair in Edison, N.J., but didn’t receive one offer. So she decided to work for herself, selling Avon products.

Unemployment for 16- to 19-year-olds is at its highest rate since 1992 — at 22.7 percent in May, according to the Bureau of Labor Statistics. That is causing some teenagers to rethink their notion of work and to embrace entrepreneurship.

“This is a generation raised to believe they can do anything, and the first to grow up with entrepreneurial celebrities like Steve Jobs of Apple and Larry Page and Sergey Brin of Google,” said Donna Fenn, who interviewed 150 young entrepreneurs for her forthcoming book, “Upstarts: How Gen Y Entrepreneurs Are Rocking the World of Business and 8 Ways You Can Profit From Their Success.”

Logo from Avon