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They've got the smarts and the confidence to get a job, but increasing numbers of the millennial generation — those in their mid-20s and younger — are deciding corporate America just doesn't fit their needs. So armed with a hefty dose of optimism, moxie and self-esteem, they are becoming entrepreneurs. "People are realizing they don't have to go to work in suits and ties and don't have to talk about budgets every day," says Ben Kaufman, 20, founder of a company that makes iPod accessories. "They can have a job they like. They can create a job for themselves."

"They want to create a custom life and create the kind of career that fits around the kind of life they want," says Bruce Tulgan, the founder of RainmakerThinking, a management training firm in New Haven, Conn., and an author specializing in generational diversity in the workplace. Experts say these children of the baby-boom generation, also known as Gen Y or echo boomers, are taking to heart a desire for the kind of work-life balance their parents didn't have. They see being their own boss as a way to resolve the conflict. So now they're pressing ahead with new products or services or finding a new twist on old-style careers. They're at the leading edge of a trend toward entrepreneurship that has bubbled for decades and now, thanks in large part to technology, is starting to surge. "It is a fun-loving generation," says Ellen Kossek, a Michigan State University professor in East Lansing who has spent 18 years researching workplace flexibility. "They view work as part of life, but they don't live to work the way we were socialized as boomers. There is a real mismatch between what the young generation wants and what employers are offering."

Those who have studied generations in the workplace, such as author David Stillman of Minneapolis, do have some insights. Stillman, who co-wrote the 2002 book When Generations Collide, say these young workers have very different ideas than earlier generations. "This generation has the group-think mentality," he says. "When you are raised to collaborate at home, then you are taught how to do that in middle school and practice it in college, you show up at work saying 'Where's my team?' They're just comfortable working with peers." Many go into business with friends.

Over the past two decades the labour market has changed dramatically. There are far more jobs but fewer of them are full-time. Many full-time, blue-collar jobs traditionally filled by men have disappeared while women generally fill the new, part-time and usually casual positions that have been created.

The demand for IT professionals has grown rapidly since 2001. The number of employed IT professionals has increased from approximately 8,400 in June 2001 to over 28,000 in June 2006. Employment growth of IT professionals of 27.3% per annum was well above 2.8% growth for all occupations. On average, about 4,000 new IT jobs were created each year between June 2001 and June 2006. About 1,300 degrees and postgraduate diplomas with an IT major were awarded in 2005. This was 24% lower than in 2003, when qualification achievements peaked. A comparison of the number of degree and postgraduate diplomas awarded, with the number of employed IT professionals yields a training rate of 5.1% in 2005. This has declined from 12.4% in 2000. The number of students enrolled for IT degrees declined by 44% between 2001 and 2005. This indicates that the number of IT graduates is likely to continue declining in the next few years. Since 2002 permanent and long-term migratory flows of IT professionals have made a small but positive contribution to the supply of IT professionals in New Zealand.

The lifetime employment system in Japan offers employees a high degree of job security. The characteristics, foundations, extent and effects of the system are examined, as are some present strains upon it. The system's implications for education and for careers guidance in Japan are then explored. The structure of guidance services in schools, in employment offices, in universities and colleges, and for adults, are described, and are related both to the lifetime employment system and to other features of Japanese society.

Companies are finding it harder to hire and retain younger people, and applications at business schools are plunging. 70 MILLION STRONG.  Nick Hahn, a managing director at Vivaldi Partners, a New York consulting firm, remembers just a decade ago when he was looking for a job, how most college graduates would have given almost anything for a top-paying spot at a big-name investment bank or consulting firm. It was taken for granted that to climb the corporate ladder they would all work 80-plus-hour weeks. That's beginning to change. Increasingly, "today, college grads ask: 'what can your firm do for me' to help them lead a more purposeful and meaningful life," says Hahn.