I REFER to yesterday's report, 'Grads among worst hit as jobless rate increases'.

A sustained period of economic stagnation will have an adverse impact on our emerging generation, especially those who have done well academically. It can have far-reaching repercussions on our collective future.

An entire generation of young Japanese who entered the labour market in the 1990s shockingly found that their taken-for-granted path of lifetime employment had dissipated in thin air.

Many of them were children who had studied hard to excel in national examinations to qualify for elite universities. If it was during their parents' time, they would have easily secured a lifelong, satisfying career in one of the giant corporations or the civil service. Instead, they settled for odd jobs and part-time work and some continue to be dependent on their parents for subsistence. They were socially classified as the 'lost' generation and many succumbed to mental depression.

Drawing lessons from what happened in Japan, our universities should prepare our students to face the tough times.

More importantly, it would be good to encourage and motivate them to embark on their own entrepreneurial ventures by equipping them with the right know-how.

Dr Edmund Lam

This article was first published in The Straits Times.