I finished my BS in spring 2003 and PhD in spring 2008, probably the two worst times to be looking for a job this century. I guess turning 40 makes me an olds (at least I’m a man now), but the last few years have been eyebrow raising to watch new hires in their 20s act like they are irreplaceable, should work no more than 35 hour weeks (9-5 with AT LEAST an hour lunch), and need semiannual raises and promotions while actively shopping for their next job. There could be a painful reckoning if a full blown recession hits, especially for all the ones who just way overextended themselves on a mortgage recently.
For the record, I have always been in the “work smart, not hard/long” camp (insert TWSS). If my direct reports get their shit done, I don’t care what hours they keep. OTOH, this is tied to the bigger (negative) issues in society brought on by the internet and social media. People used to save and be fiscally responsible, especially for big purchases. Now everyone wants immediate gratification and thinks they deserve the nice things they see others have (houses, cars, iPhones, vacations, whatever). I cannot imagine the scale of house foreclosures and auto repossessions next year if the big one hits.