Chart Of The Day: Jobs "Additions" By Age Group Reveals The Scariest Picture

Tyler Durden's picture

While the GETCO algos care only about one thing: the headline NFP number derived by the establishment survey, the reality is that in November this number was strictly a divination of seasonal adjustments (which resulted in the typical for November 1.2 million "gain" in jobs), as well as who knows what other Sandy-related adjustments which the BLS has not broken down, the reality is that a more granular dig through the jobs data reveals a far uglier picture, especially for those in the prime working demographic between 25-54. This has been a sensitive issue for the pundits as ever since the arrival of the Obama administration, all the job gains have gone in the 55 and older job category as we now see age outsourcing, while jobs in the 55 and lower age group have imploded. Sure enough, the November data, when seen through the prism of the Household Survey's age distribution, is frankly horrendous.

First, what that granular data shows is that instead of a 146K gain in November, there was actually a drop of 114K jobs when broken down by worker "vintage." But where it gets simply stupid, is that of the 4 age group buckets (16-19, 20-24, 25-54, and 55-69), the biggest gainer continued to be America geriatric work force, which added 177 jobs. As for that key segment of the workforce, the 25-54? Jobs here declined by a whopping 359K in November. And this is good news?

 

And the really scary charts: cumulative jobs gained or lost in the 55 and under, versus 55 and over age groups. In case it is confusing, since Obama became president, 4 million jobs have been added in the 55-69 age group. Everyone else? Down 3 million!

The same as above but broken by all four age cohorts:

Since Obama became president, over 2.5 million jobs in the 25-54 age group have been lost.

Welcome to the Recovery.

Source: BLS

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hugovanderbubble's picture

Spain to be downgraded to Junk by Moodys

 

Finland to lose AAA

slaughterer's picture

Oldies need work more, and have the motivation, pluck and skills to do it.  Dumb, whining youth with no skills must starve... and hopefully die off.

Oldies bitchez... they have more guns, too.   

Dalago's picture

I'd like to see the chart right before a genuine (non-USA manufactured) revolution.  The youth will probably look the same.

old naughty's picture

America IS NOT the world.

It is consistent with eveywhere else, no?

Dalago's picture

@old naughty: Its similar throughout the world.  USA just has less shit on its collar.

hedgeless_horseman's picture

 

 

 

The job growth suggests that most employers aren't yet delaying hiring because of the "fiscal cliff."

 

-Christopher S. Rugaber, AP Economics Writer

The above sentence suggests that most economics writers aren't yet delaying writing propaganda because of a "real good education." 

Beyond this workflow...

  1. http://www.bls.gov/bls/newsrels.htm#latest-releases
  2. Ctrl-A
  3. Ctrl-C
  4. Alt/Tab
  5. Ctrl-V
  6. Ctrl-S
  7. Ctrl-P

...it gets a little tougher.

NotApplicable's picture

So basically that chart dispels the myth that old people actually enjoy eating dog/cat food.

caconhma's picture

This is the American tragedy. People, who have worked hard all their lives, contributed to Medicare and Social Security, and saved for their retirement, are now are poor and starving because they were robbed and their  savings were wiped out by the Zionist Banking Mafia assisted by their utterly corrupt "representatives" in the Congress and the White House. Now, these old and sick people must go back to work just to survive.

All this discussions about an economic recovery is a total BS. A country that screws its own citizens so badly does not have any future.

 

Freddie's picture

Blame the sheep who watch TV and Hollywood's crap.  If you are one then you deserve to be a serf.  Fox is no better.  F TV, Hollywood, newspapers and ALL the media. 

francis_sawyer's picture

If the chart is accurate, then it basically means that Uncle Sam isn't hiring [unless all those 16-19 jobs are page boys for Barney Frank]...

roadhazard's picture

And those elderly jobs are jobs that pay less than anyone else will work for. That SS check does not last two weeks in this brave new world. A Salavtion Army bell ringer does not make much but looks damn good on employment rolls. It's all just phony, BS numbers.

imapopulistnow's picture

"Since Obama became president, over 2.5 million jobs in the 25-54 age group have been lost."

Inversely correlated to street sales of Oxycontin.

derek_vineyard's picture

santelli just said 'soon we will have an unemployment rate of 0, because we wont be counting anyone as unemployed'

Freddie's picture

I would bet jobs lost in that demographic are closer to 5 million people.  Hope & Change.  Keep watching TV and Hollywood crap you sheep.  Your viewership and paying for cable & sat TV keeps em in power.

Stock Tips Investment's picture

It does not seem very critical of this information. Probably not the best structure of employment growth we could have. But growth is growth.

Eally Ucked's picture

delusional, delusional, old guys take whatever shit jobs are available just to supplement their SS displacing students from their traditional jobs. Now they have double number of senile workers at any store you go to, wheelchair workers, even mentally crippled - equal opportunity employers!. But who makes income to pay taxes? And where? I like numbers too!    

Terminus C's picture

Older people will work for less, think Wal-Mart greeter, which just provides more evidence of the degradation of the economy.

This is not 'growth'.

Panafrican Funktron Robot's picture

There are some pretty great tax breaks for hiring older folks too.  

MiltonFriedmansNightmare's picture

In USSA, all your growth are belong to us.

Bedonkedonk's picture

"Probably not the best structure of employment growth we could have, but growth is growth."

By that measure, so is paying someone to dig a hole and fill it back up.

Central Bankster's picture

In Soviet USA, the central planers pretend we all have jobs, and we the employed, pretend to actually work. 

bigkahuna's picture

they pretend to pay us, we pretend to work.

 

(actual quote from soviet worker-fits well in USSA)

NotApplicable's picture

Oh, shit! It's Friday already!

*scurries off to fake a week's worth of effort*

exi1ed0ne's picture

Motivation, pluck, and skills have nothing to do with it.  Take a look at the earnings quality.  There is no way someone can pay off college loans, start a family, raise a family, etc on those wages UNLESS they are subsidized by SS payments.

$7 an hour won't feed a family, but it will allow you to buy the premium cat food when added to your SS stipend.

Note: this is NOT an argument for a "living wage" or any of that fucking crap.  I'm just noting that SS is now another subsidy to business in order to defray the cost of salaries for low/starter skill positions.

MachoMan's picture

prepare to get the shit down voted out of you...  I've been making the same argument for some time, but to little avail.  The other issue is that older workers have had more time to accumulate wealth and, thus, can draw from that wealth while working...  it's not solely SS that allows them to work more cheaply than their younger counterparts...  e.g. no dependents, lack of student loans, don't know how to use technology, etc.

exi1ed0ne's picture

It really gets interesting when you realize that in current economic thinking wage increases = price inflation and is in all the models.  Subsidizing the low end (majority of jobs) to keep a cap on the wage price helps paint the inflation tape.

HappyCamper's picture

I’ll often give s thumbs up to a poster that I may not totally agree with.  If they have a well thought out point and they articulated well, then they deserve it.   You made a good point too, so thumbs up!

Thisson's picture

I think your first point is more valid than your second point.  Savings rates in this country have been very low for a long time.  The average 401k balance is what, 60k?  There's not a lot for the old folks to draw down on, unless they've got pension income (I hear that used to be fairly common back in the day).

MachoMan's picture

$60k > -$60k.  Every little bit helps.

Obviously the entire concept is not sustainable.  Anyone with savings in this working category is still depleting the savings (probably rather quickly).  So this is only a temporary solution, at best, to kick the can.  At some point nana is gonna want a raise.

Freddie's picture

It is a shame Americans do not have the guts that the Egyptians have.

MachoMan's picture

Why?  It appears that all guts have managed to gain them is a dictatorship...  turmoil...  discourse... 

I'm not sure guts is enough.

Race Car Driver's picture

 > ... SS is now another subsidy to business in order to defray the cost of salaries for low/starter skill positions.

But these folks are paying back into the system while collecting. We don't need younger workers to pay... it's zero sum. Like a perpetual motion machine. .gov is brilliant for allowing us to do this... and here you sound all ungrateful, an' shit.

HappyCamper's picture

That's why a work at Wal-Mart as a senile drooling greeter. It supplement’s my SS income so I can have premium cat food to eat, baby!  Isn’t this economy great?

GMadScientist's picture

Only a complete dipshit could read this as anything other than desperate.

 

Seer's picture

This age group also has the most money/wealth, it's the most influential voting block.

Saw this forming several years ago as the auto workers union voted to maintain retirement benefits and current wages and to reduce entry-level pay.

Way back when I was part of the "dream" I had a full-on retirement plan which relied on selling my house years in the future.  Fortunately I woke up from the dream and saw the problem with this (as noted in the sentence preceding this one)- sold that house (prior to the bubble bursting).  My current home is no longer an "investment," something that I plan on selling to a future generation.

Lin S's picture

That's increasingly untrue. 

As Hispanics increase as a percentage of the overall U.S. population, aging baby-boomers will become irrelevent.

Look around you, it's already happening.  California is what the United States will be in 20 years, and maybe even 10.

 

sessinpo's picture

All age groups are being decimated. While you state "This age group also has the most money/wealth, it's the most influential voting block.", what you miss is that even as a certain group of people have more wealth compared to others, is it enough to fund their retirement?

Thus this thread actually refutes your thinking because if those age 55 and older were set, why would they be working? Non logical. This is subtle liberal thinking that doesn't add up.

 

What you don't see is that this "influential voting block" is desperate and that shows in they way they act such as the very description you provided "Saw this forming several years ago as the auto workers union voted to maintain retirement benefits and current wages and to reduce entry-level pay."

 

In other words, people are seeing that there is a limited  amount of resources to  pay  for their "wants", their lifestyle. And they are willing to sacrifice the younger generations to pay for it. Sound familar. How about the $16 trillion and growing debt that future generations wil  have to pay for when the current beneficiaries will be long gone and dead.

 

 

dark_matter's picture

Mmm, mmm. I do love the taste of seed corn.

Vince Clortho's picture

The Old against the Young.  Great Idea. 

Don't encourage the CPs, they may turn your idea into action.

If they like it, there should be a plethora of movies, books, and media specials soon.

Will it be the terrorist teens against the freedom loving oldies, or vice versa?

Stay tuned.

Kobe Beef's picture

The young need to start their own industry. I hear there's a real market need for bankster headhunters.

literally.

pine_marten's picture

Like they say - "don't mess with an old fart, since he can't fight you he'll just kill you".

alangreedspank's picture

There's some of that and there's also the fact that the system they created with the goal of retiring on the next generation's tab isn't exactly panning out.

PD Quig's picture

"This is good news?"

It's GREAT news. All the bonehead youngsters (who by the way, are so well educated that they don't think anal sex and fellatio are sex) are learning a great lesson here. You voted for a guy who is destroying jobs like it was his purpose in life.

Bring on the hate.

CrimsonAvenger's picture

So when a woman tells me she doesn't want to have sex with me, those two things are still on the table?

Sweet!

slaughterer's picture

You can have anal with my avatar.  

Slewburger's picture

Your avatar reminds me of a tranny version of Michael Jackson.

fuu's picture

A recently exhumed tranny version of Michael Jackson.

alangreedspank's picture

"Your avatar reminds me of a tranny version of Michael Jackson, but then again, I'm repeating myself."

GMadScientist's picture

Because if they voted for "the other guy", they'd have really awesome positions...

...in Guatemala.

francis_sawyer's picture

Jesus Tapdancing Christ... We had to hear all the Romney/Obama crap for a whole year before the elections... But some insist on re-living it all... I mean ~ How long did it take everyone to get over Nixon/Agnew vs. Humphrey/Muskie?...

I'll bet y'all think about that all the time...