The recession may be easing slightly, but with the unemployment rate for adults aged 20 to 24 nearly twice the national average, a whole lot of recent grads have spent 2009 doing not much at all. Sure, some have taken on volunteer assignments or internships, but the fact remains that the bleak employment prospects have had a huge impact. But will the effects of this period of enforced joblessness outlast the recession?

This week on the blog Millennial Marketing marketing professor Carol Phillips rounds up research findings to argue that, unfortunately, the damage will linger. So what’s the impact of all the discouragement? First off, it can’t be great for your mental or financial health. A national longitudinal study of young people concluded that:

Periods of unemployment during the 15 year transition from youth to young adulthood is

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