There are some who believe that youth ministry will cease to exist in the emerging church. What that statement reveals is a belief that the current expression of youth ministry is the only possible expression. Youths will continue to be ministered to and they will continue to be agents of God's kingdom - whether or not the traditional structures of youth ministry survive (on these structures: there are some I hope survive and some I hope die).
Youth ministry as a profession may cease. But this is a long way off - there will be many churches that hold on to modernistic structures for a very long time, so if your in college getting a degree in youth ministry - don't worry...but focus your training on leadership (hope), Scripture (faith) and loving people (love)...these three are foundational for any ministry.