This feels a bit unwarranted. There doesn't need to be some major new paradigm shift for things to get bad from an employment perspective. All that needs to happen is for this creative destruction rate to slightly exceed the new job creation rate, and there's your tipping point. I certainly feel that your average grad today doesn't have the same opportunities I did in the late 90s.
That is a gamble. Everyone talks about how the dotcom bust quickly recovered and housing bust recovered. But that period was when smart phones started, everyone got broadband and most businesses moved to the web. Can you be surely something else will come along?
something has come along - the new fangled AI stuff.
People back then also didnt think the internet would amount to much when it first came out, and people also thought mobile phones were for business users not casual consumers.
Once you’ve automated manual labor and mental labor, what’s left?
To me, it seems obvious the next boom 10 years out is in physical labor and being an advanced robot with your body. That is what will have value with the hugely deflationary knowledge work part going from super expensive to insanely cheap.
Better to be optimistic and make moves to position yourself for the “new thing that comes along” then to give in to despair. Then if it does come along they are ready to jump on that train.
In this case their is nothing lost with cautious optimism.
I got my first real job in a very down employment market--much worse than today. Got skills, learned how business worked. Found a pigeonhole where I could profitably work for myself based on the new skills. Built a reputation. Was hired by folks who needed my expertise, etc. The key for me was to get an accurate read on the employment market and let it guide my decisions.
My path night not be directly reproducible, but the orientation in OP's post nails the kind of thinking that's needed.
Some people run errands. Some people make stuff. Some people are valuable friends. Some people are wise advisors. Some people help you get healthy. Whatever!
I know this is painfully obvious in hindsight, but maybe something about 18 straight years of “your choices are military, college, or trades” prevented me from thinking outside the box. I probably would’ve gotten started on a career I was excited about a loooot earlier in life.