Any Benefit in Job Hopping (JH)?

I was discussing with a colleague today about the career trend and tendencies of different generations. A liitle bit of background will help you understand my position in this argument/discussion. My colleague is from the generation X (People born after the baby boomers). If you are still at loss about who the baby boomers are, please ask uncle google ;-).  I am from the generation Y. The demographic cohorts following the generation Y are known as the Millennials. 

My colleague's argument is that most job hoppers are from the Millennials and those following them. Now this may make job hopping (JH) sound like a hasty decision from care free thinking youths.

This brings me to my question. Is job hopping a career suicide? Will employers turn you down if you have a history of Job hopping? Will you succeed from JH, does it mean more money and more experience? Is it a yah or nah? Too many questions right? Well here's my opinion (PS. I'm also into Human Resources)

While many recruiters and employers may see JH as a career mishap or suicide. The new age brings with it instant gratification, self-driven workforce nature. Hence making job hopping a norm. 

Today i will pen my advise as a recruiter and in the part 2, i will pen my advise as an employee either way you still have to apply common sense and make the right decisions for yourself. 

You see in U.S i understand that the average number of years a worker stays with his/her employer is 4.6. However, if you are coming from countries with less than stable economy, you may want to be in your employer’s good books and not give her/him the headache of having to worry about employee turnover. I will rather recruit a professional who has devoted some good years building what he is passionate about and contributing in his/her own little or mighty quota of growth in the organization s/he has found herself.  

I will also be on the lookout for his/her contributions to the work environment. I will also be looking out for if he has grown to the point of mentoring others (supervisory level) and i believe this can only be achieved by spending a good amount of time. 

I will sit on the other side of the fence in part 2 of this topic. Feel free to disagree with me in the comment section! 

Cheers.