Over the last year, it’s been impossible to pick up a newspaper or turn on the television without hearing news of a growing unemployment numbers, struggling businesses and a disastrous real estate market. Millions have lost jobs and taken furloughs. And there are plenty of young people who haven’t even had the opportunity to personalize their very first cubicle.

A recent BusinessWeek cover story described what could turn into a “lost generation” of people in their late teens and early 20s, many who have one and two college degrees but can barely get an employer to call them for an interview.

According to the article, U.S. unemployment rate for those ages 16 to 24 stands at 18 percent, a jump from 13 percent a year ago. It might seem these youngsters eager for experience would be considered inexpensive labor, but as the BusinessWeek story points out, many businesses don’t want to take any chances. It’s probably best to hang onto to the workers who know the business rather than devote time and resources to training someone new.

Eventually businesses will start to hire again. The tide will turn and companies will grow, expand and fill some of the desks that have emptied out over the last year. But will young people be given a chance? They won’t have much experience and many probably will have found themselves working minimum wage jobs completely unrelated to their intended profession.

Competition for jobs will be fierce with more experienced workers going toe to toe with younger workers. How do businesses fill their ranks with seasoned employees while giving youth – ultimately the managers, VPs and CEOs of tomorrow – a place in the business world? Share your thoughts on this topic by posting a comment. We’re eager to hear your ideas and advice.