Generation X, the generation I am a part of, grew up in a world of imminent nuclear disaster and high unemployment.
The jobs we wanted were filled with the vast hordes of babyboomers: still in the workforce, protected by strict employment laws.
Generation Y, the topic of many ‘social networking’ [eyeballs, and therefore marketing-types] are entering a world were jobs are more plentiful; and will continue to choose their own jobs.
A downside is a tax burden they will have keeping the older generation
There are many social impacts with these changes.
One concern us Generation Xers have with online personas and profiles is the impact of potential negative pictures and posts being used by potential employers. In the future, the power will lie in the hands of the employees.