An unempoyed worker holds a up sign on a street corner in Washington, DC.

Editor’s Note: Dan Schawbel is a career and workplace expert, the founder of Millennial Branding, and the New York Times bestselling author of Promote Yourself. He speaks on the topic of millennials, the future of work and personal branding for companies such as Oracle, IBM, Google, EY and Time Warner.

Story highlights

Large numbers of millennials around the globe are unemployed and despondent about their future prospects

Career and workplace expert, Dan Schawbel, highlights eight ways for millennials to recover from economic setback

Freelancing, networking and working free for free are all options Schwabel recommends for young job seekers

CNN  — 

Relative to any other generation, millennials are suffering the most right now. The bad economy, that is showing no signs of recovery for 2014, has ended any form of entitlement that they’ve ever had. Those who have jobs have several friends who are either unemployed or underemployed begging them for help.

In the U.S., millennials are suffering from one trillion in student debt right now and each carries $45,000 in debt. Many have had to work at unpaid internships, if they’re lucky enough to find one, and have had to offset them with waitressing and retail jobs just to be able to afford to live.