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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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Fri, 12/07/2012 - 10:53 | Link to Comment hugovanderbubble
hugovanderbubble's picture

Spain to be downgraded to Junk by Moodys

 

Finland to lose AAA

Fri, 12/07/2012 - 11:08 | Link to Comment slaughterer
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.   

Fri, 12/07/2012 - 11:08 | Link to Comment Dalago
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.

Fri, 12/07/2012 - 11:12 | Link to Comment old naughty
old naughty's picture

America IS NOT the world.

It is consistent with eveywhere else, no?

Fri, 12/07/2012 - 11:18 | Link to Comment Dalago
Dalago's picture

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

Fri, 12/07/2012 - 12:39 | Link to Comment hedgeless_horseman
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.

Fri, 12/07/2012 - 12:41 | Link to Comment NotApplicable
NotApplicable's picture

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

Fri, 12/07/2012 - 14:36 | Link to Comment caconhma
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.

 

Fri, 12/07/2012 - 16:47 | Link to Comment Freddie
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. 

Fri, 12/07/2012 - 11:19 | Link to Comment francis_sawyer
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]...

Fri, 12/07/2012 - 11:33 | Link to Comment roadhazard
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.

Fri, 12/07/2012 - 11:49 | Link to Comment imapopulistnow
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.

Fri, 12/07/2012 - 11:58 | Link to Comment derek_vineyard
derek_vineyard's picture

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

Fri, 12/07/2012 - 16:49 | Link to Comment Freddie
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.

Fri, 12/07/2012 - 11:22 | Link to Comment Stock Tips Inve...
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.

Fri, 12/07/2012 - 11:43 | Link to Comment Eally Ucked
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!    

Fri, 12/07/2012 - 11:46 | Link to Comment Terminus C
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'.

Fri, 12/07/2012 - 12:06 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

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

Fri, 12/07/2012 - 12:09 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

In USSA, all your growth are belong to us.

Sat, 12/08/2012 - 12:10 | Link to Comment Bedonkedonk
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.

Fri, 12/07/2012 - 11:13 | Link to Comment Central Bankster
Central Bankster's picture

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

Fri, 12/07/2012 - 12:17 | Link to Comment bigkahuna
bigkahuna's picture

they pretend to pay us, we pretend to work.

 

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

Fri, 12/07/2012 - 12:42 | Link to Comment NotApplicable
NotApplicable's picture

Oh, shit! It's Friday already!

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

Fri, 12/07/2012 - 11:14 | Link to Comment exi1ed0ne
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.

Fri, 12/07/2012 - 11:50 | Link to Comment MachoMan
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.

Fri, 12/07/2012 - 11:59 | Link to Comment exi1ed0ne
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.

Fri, 12/07/2012 - 12:19 | Link to Comment HappyCamper
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!

Fri, 12/07/2012 - 12:47 | Link to Comment Thisson
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).

Fri, 12/07/2012 - 15:52 | Link to Comment MachoMan
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.

Fri, 12/07/2012 - 16:51 | Link to Comment Freddie
Freddie's picture

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

Fri, 12/07/2012 - 18:24 | Link to Comment MachoMan
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.

Fri, 12/07/2012 - 11:57 | Link to Comment Race Car Driver
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.

Fri, 12/07/2012 - 12:14 | Link to Comment HappyCamper
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?

Fri, 12/07/2012 - 11:14 | Link to Comment GMadScientist
GMadScientist's picture

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

 

Fri, 12/07/2012 - 11:39 | Link to Comment Seer
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.

Fri, 12/07/2012 - 15:57 | Link to Comment Lin S
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.

 

Fri, 12/07/2012 - 17:17 | Link to Comment sessinpo
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.

 

 

Fri, 12/07/2012 - 12:21 | Link to Comment dark_matter
dark_matter's picture

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

Fri, 12/07/2012 - 12:45 | Link to Comment Vince Clortho
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.

Fri, 12/07/2012 - 12:58 | Link to Comment Kobe Beef
Kobe Beef's picture

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

literally.

Fri, 12/07/2012 - 15:50 | Link to Comment pine_marten
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".

Fri, 12/07/2012 - 13:28 | Link to Comment alangreedspank
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.

Fri, 12/07/2012 - 11:02 | Link to Comment PD Quig
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.

Fri, 12/07/2012 - 11:08 | Link to Comment CrimsonAvenger
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!

Fri, 12/07/2012 - 11:14 | Link to Comment slaughterer
slaughterer's picture

You can have anal with my avatar.  

Fri, 12/07/2012 - 11:37 | Link to Comment Slewburger
Slewburger's picture

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

Fri, 12/07/2012 - 13:09 | Link to Comment fuu
fuu's picture

A recently exhumed tranny version of Michael Jackson.

Fri, 12/07/2012 - 13:31 | Link to Comment alangreedspank
alangreedspank's picture

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

Fri, 12/07/2012 - 11:18 | Link to Comment GMadScientist
GMadScientist's picture

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

...in Guatemala.

Fri, 12/07/2012 - 11:23 | Link to Comment francis_sawyer
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...

Fri, 12/07/2012 - 11:40 | Link to Comment CH1
CH1's picture

How long did it take everyone to get over Nixon/Agnew vs. Humphrey/Muskie?.

If the overlords have their way, they'l NEVER get over it. It's what keeps their game going.

Fri, 12/07/2012 - 11:44 | Link to Comment GMadScientist
GMadScientist's picture

I didn't specify Romney.

Fri, 12/07/2012 - 11:45 | Link to Comment Grinder74
Grinder74's picture

[Mohammed] Tapdancing [Prophet]... We had to hear all the Romney/Obama crap for a whole year before the elections...

FIFY.

Fri, 12/07/2012 - 11:53 | Link to Comment francis_sawyer
francis_sawyer's picture

JBTFD is the only acronym I know...

Fri, 12/07/2012 - 12:12 | Link to Comment NeedleDickTheBu...
NeedleDickTheBugFucker's picture

I guess Bill "I did not have sex with that woman" Clinton set the precedent with all those bonehead youngsters.

Fri, 12/07/2012 - 12:18 | Link to Comment dark_matter
dark_matter's picture

Is fellatio sex? It depends on what your definition of is is.

Fri, 12/07/2012 - 11:03 | Link to Comment rubearish10
rubearish10's picture

Are you making an announcment?

Fri, 12/07/2012 - 11:26 | Link to Comment forwardho
forwardho's picture

The entire world to be downgraded to junk by reality

humanity to lose.

Fri, 12/07/2012 - 12:24 | Link to Comment Seer
Seer's picture

"Whether we and our politicians know it or not, Nature is party to all our deals and decisions, and she has more votes, a longer memory, and a sterner sense of justice than we do." - Wendell Berry

"Men argue, nature acts." - Voltaire

Mother nature bats last.  The virtual is NO match for the physical, no matter how many times we click our heels together.

Fri, 12/07/2012 - 14:24 | Link to Comment daxtonbrown
daxtonbrown's picture

This is great news! Old farts are working more, so we can slash their social security!

Fri, 12/07/2012 - 10:55 | Link to Comment Lost Wages
Lost Wages's picture

I never liked working anyway.

Fri, 12/07/2012 - 11:16 | Link to Comment Urban Roman
Urban Roman's picture

"Jobs" ... the whole concept is sooo 20th century.

Fri, 12/07/2012 - 11:19 | Link to Comment Karl von Bahnhof
Karl von Bahnhof's picture

Jobs is dead, Cash is dead and Bob Hope also...

Fri, 12/07/2012 - 12:26 | Link to Comment Seer
Seer's picture

Actually, there's a lot here...

"Work" and "jobs" are not the same.

"Jobs" is what TPTB use to harness your energy for Their gain.

"Work" is energy applied, and when done on one's own accord it means that which (helps to) sustains one's own life.

See the difference?

Fri, 12/07/2012 - 10:55 | Link to Comment lordbyroniv
lordbyroniv's picture

once detached from the labor force....you dont go back.  The jig is up as far as Im concerned.  At this point,...I dont even wanna work!!!!

Fri, 12/07/2012 - 11:08 | Link to Comment Dan Conway
Dan Conway's picture

Aren't those 20 somethings the slave force I mean workforce to repay all of this debt and pay for social security, medicare, disability, snap, public pensions?  Somebody better tell them to get to work - NOW!

Fri, 12/07/2012 - 12:25 | Link to Comment HappyCamper
HappyCamper's picture

Get a job, hippie!

Fri, 12/07/2012 - 12:46 | Link to Comment Harbanger
Harbanger's picture

He's over qualified at this point.

Fri, 12/07/2012 - 10:55 | Link to Comment FLUSA.com
FLUSA.com's picture

Sport stars retire young

Fri, 12/07/2012 - 10:56 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

God Bless our Elderly.  They are showing piss and vinegar.  Take away their retirements?  Fuck you sonny, I'm taking your job.

Fri, 12/07/2012 - 10:59 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Correct.  Might want to look into how many of those folks are armed and/or veterans as well.  

Fri, 12/07/2012 - 11:01 | Link to Comment Sauk Leader
Sauk Leader's picture

Hey, I guess they're right. Senior citizens, although slow and dangerous behind the wheel, can still serve a purpose.

Fri, 12/07/2012 - 11:14 | Link to Comment Rainman
Rainman's picture

...and the geezers are more likely to pass the pre-employment drug test for bath salts and ecstasy.

Fri, 12/07/2012 - 12:05 | Link to Comment Race Car Driver
Race Car Driver's picture

Because heaven knows one can't earn a living without pissing in a cup for the plantation owners.

Fuck piss sniffers.

Fri, 12/07/2012 - 16:54 | Link to Comment Freddie
Freddie's picture

I had to make that hiring choice in the past.  The older person always showed up, worked hard and was honest. I also treated them well.  America is ***ed - dumb sheep.  The Egyptians have more balls.

Fri, 12/07/2012 - 11:39 | Link to Comment exi1ed0ne
exi1ed0ne's picture

Retirees need to take it easy and relax in their golden years.  I like my Soylent Green tender like veal.

Fri, 12/07/2012 - 10:55 | Link to Comment SheepDog-One
SheepDog-One's picture

Yea keep spraying more gold paint on that hole we're swirling down.

Fri, 12/07/2012 - 10:56 | Link to Comment caimen garou
caimen garou's picture

cant even get a job here as a wal- fart greeter

Fri, 12/07/2012 - 11:25 | Link to Comment bpj
bpj's picture

WalMart did away with greeters over a year ago. Get current.

Fri, 12/07/2012 - 11:36 | Link to Comment ebworthen
ebworthen's picture

I'm surprised they didn't bring in Chinese greeters.

Fri, 12/07/2012 - 11:48 | Link to Comment Urban Roman
Urban Roman's picture

The focus group rejected the idea after they kept saying "Wercome to War Mart"

Fri, 12/07/2012 - 11:54 | Link to Comment yabyum
yabyum's picture

They were going to bring in  a hundred or so Bangladeshi.....but killed them instead.

Fri, 12/07/2012 - 11:48 | Link to Comment exi1ed0ne
exi1ed0ne's picture

No, but they have cart inspectors now at all the exits in my area at least.  The insincere "Welcome to Walmart" has been replaced with "show me your receipt!" and a pretend inventory to make sure nothing extra has "fallen" in your cart.  Now that's what I call progress!

Fri, 12/07/2012 - 12:44 | Link to Comment Seer
Seer's picture

Great, way to fuck up the guy's dream!  Hope that you can sleep well knowing that he's likely jumped off a tall building! </sarc>

Fri, 12/07/2012 - 10:56 | Link to Comment LongSoupLine
LongSoupLine's picture

This is not good...

 

Case in point, fuckstick Cramer's still employed.

Fri, 12/07/2012 - 12:50 | Link to Comment Seer
Seer's picture

I'm not thinking that I'd take employment with his employer over being unemployed.  It's a perfect match, clowns and the circus...

Fri, 12/07/2012 - 16:56 | Link to Comment Freddie
Freddie's picture

Cramer just gets to front run all his stock picks without the SEC doing anything.,

Fri, 12/07/2012 - 10:58 | Link to Comment Everybodys All ...
Everybodys All American's picture

look on the bright side we only have four more years of this at most.

Fri, 12/07/2012 - 11:01 | Link to Comment Dr. Engali
Dr. Engali's picture

Heh yeah that's funny....go red team! I think you forgot your sarc tag.

Fri, 12/07/2012 - 11:30 | Link to Comment Everybodys All ...
Everybodys All American's picture

I get your point.

The lies, deception, lack of transparency, and lack of accountability have increased exponentially under Obama. The run toward fascism can't be denied is greater under this man.

Fri, 12/07/2012 - 12:16 | Link to Comment Race Car Driver
Race Car Driver's picture

... and the trend will continue with the next CEO - a blood relative to the royal family and every other CEO before him/her - who will be even worse (for us - not so much the banks or the corporations). 

Buy a clue.

Fri, 12/07/2012 - 14:09 | Link to Comment Thisson
Thisson's picture

Toward fascism?  Look around.  Pretty sure we've already arrived at fascism!

Fri, 12/07/2012 - 10:58 | Link to Comment ekm
ekm's picture

As I said on the previoust article:

 

Why do the seniors have to work for few hours a week?

Why don't they gamble the saved money into the stock casino so they don't have to work?

Fri, 12/07/2012 - 11:05 | Link to Comment Joe Davola
Joe Davola's picture

They fell for the "stock market goes up 4% year, you can live off that 4% forever without ever touching the principal" line.

Fri, 12/07/2012 - 10:58 | Link to Comment Dr. Engali
Dr. Engali's picture

But on the plus side of things you always have a luke warm greeting when you walk into Walmart,

Fri, 12/07/2012 - 11:02 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Retirement hell is being forced to seek employment again to make ends meet and becoming a Wal-Mart greeter.

<Hello and welcome to China's dumping ground for useless trinkets and baubles.>

Fri, 12/07/2012 - 11:08 | Link to Comment TrumpXVI
TrumpXVI's picture

That's what I'm getting out of this data, CD.

The previous thread on job quality showed all the gains in the low wage type jobs.  So, my take away is that the older age cohort is taking crappy jobs to make ends meet, but these folks are gaining jobs, unlike the younger cohorts of the labor force.

Fri, 12/07/2012 - 11:19 | Link to Comment GMadScientist
GMadScientist's picture

Hopefully some are smart enough to turn it into a CC number collection and "inventory control" enterprise to "supplement" their SS (because fuck anyone who shops with a credit card at Wal-Mart).

Fri, 12/07/2012 - 11:16 | Link to Comment exi1ed0ne
exi1ed0ne's picture

Welcome to Costco, I love you.

Fri, 12/07/2012 - 11:23 | Link to Comment HurricaneSeason
HurricaneSeason's picture

Yeah, why is that? Have they even considered using a couple pole dancers at the front door? At least on the garden center entrance. They could be Eves with fig leaves or something. I should be in marketing, those power tools are expensive and could be more so.

Fri, 12/07/2012 - 11:48 | Link to Comment takinthehighway
takinthehighway's picture

You'd really want to see the average female Walmart employee in fig leaves?

Different strokes for different folks, I guess...

Fri, 12/07/2012 - 10:59 | Link to Comment Lendo
Lendo's picture

I saw one of my neighbors being served an eviction notice by a sheriff this morning.  Recovery indeed.

 

Even Maria on the closing bell is playing devil's advocate to all of the recovery nonsense.

Fri, 12/07/2012 - 11:20 | Link to Comment GMadScientist
GMadScientist's picture

What you don't know is that their last mortgage payment was in 2009.

Fri, 12/07/2012 - 11:25 | Link to Comment Lendo
Lendo's picture

Sad but true, sir.  I can tell you're a sir by your avatar. 

Fri, 12/07/2012 - 12:56 | Link to Comment Seer
Seer's picture

Actually, it's a good bet the property taxes were in arrears as well, and this info is available from just the records of just about any county.

Fri, 12/07/2012 - 11:00 | Link to Comment ak_khanna
ak_khanna's picture

All the efforts of politicians, government, central banks etc are focused on saving banks instead of targeting job creation which is the only way economy can recover. 
Jobs can be created by initiating the following :

Replace the top management of the too big to fail banks, put the existing ones in prison and charge them with fraud and misrepresentation. Break the banks into smaller ones so that they are no longer a risk to the whole financial system. Implement the Glass Stegall Act.

Use the reclaimed billions of dollars from the arrested bankers and use them to improve the infrastructure of the country. This would create jobs instantly and the improved infrastructure would give the confidence to the small businessman to hire more people.

Tax the richest 5% of the population heavily as they no longer create jobs in the country but outsource the jobs to the low cost developing nations. Stop completely the funding of election candidates by corporates and rich individuals so that their influence on politicians to make rules beneficial to themselves is clipped.

Stopping speculation and derivatives in commodity markets would reduce their prices substantially which would be beneficial to the majority of the population. This would lead to a better standard of living for the middle class families and they would go out and spend helping the revival of the economy.

But in the real world we can keep on dreaming.

http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in

Fri, 12/07/2012 - 11:44 | Link to Comment ebworthen
ebworthen's picture

But what would all the fleas, ticks, tapeworms, mosquitoes, and leeches of society do?

Those banks and corporations have a symbiotic relationship with individual citizens, at least as far as the government is concerned as they keep allowing us to be bled and parasitized.

Rule of Law?  My God Man!  Think of what that would do to Apple stock and the FED Mortgage Backed Securities!

The parasites are good for the body public!  The tapeworms keep us from getting fat, the leeches thin our blood, the fleas and mosquitoes keep us itching and moving (exercise!), and the ticks are good for sales of wooden matches and tweezers!

Now go break some windows!

Fri, 12/07/2012 - 13:00 | Link to Comment donsluck
donsluck's picture

Your forget the Dao. All of your "improvements" will be balanced out by unintended consequences. Since reality insists on (perhaps eventual) balance, rigging things does not help. I do not see how you can realistically stop "speculation" since your entire thesis is speculation. How do you suggest we stop you? May I humbly suggest you simplify your life to where your material needs are minimal and step off the tracks of this runaway train?

Fri, 12/07/2012 - 13:57 | Link to Comment mkhs
mkhs's picture

You show wisdom, grasshopper. Namaste.

Fri, 12/07/2012 - 13:49 | Link to Comment Seer
Seer's picture

I suppose that in the virtual world this makes sense, but physical reality says otherwise.  And, if you look closely you WOULD see that the physical world is in fact driving things; it's just the "dream makers" that are obfuscating the facts because knowing the facts would pull back the curtain on said "dream makers" (TPTB).

Just what are we expected to "recover" to?  The bubble era?

No, we cannot "go back."

Just as we could not eliminate US debt even if we cut govt's discretionary (or all?) spending by 100%, eliminating all the big banks isn't going to magically create (and certainly not restore all) jobs.  The risk that's out there cannot be vaporized.  The risk will suck/pull back capital away from producing entities: those producing entities are losing growth in their customer bases anyway.  And even the most extreme instance, that of declaring a debt jubilee*, while we'd be starting with a clean slate you could be assured that REAL PHYSICAL stuff (esp energy) would be MUCH higher valued/priced (less affordable).

* And what if YOU are a creditor?

In no way am I defending the Ponzi banking system; BUT, there is no magic wand to wave; to paraphrase James Carvell: It's the hidden/outstanding risk, stupid!  Chickens really do come home to roost.

Fri, 12/07/2012 - 14:51 | Link to Comment nc551
nc551's picture

You propose more corruption.  The government has no business running the economy.  They need to stop interferring and merely enforce the the only laws they can justly make... penalties for initiated acts of violence, including theft and fraud.

Fri, 12/07/2012 - 11:04 | Link to Comment FunkyOldGeezer
FunkyOldGeezer's picture

Might this be because most of the new jobs are either (a) low paid, (b) part-time, or (c) both?? I'm just askin'.

Fri, 12/07/2012 - 12:00 | Link to Comment ebworthen
ebworthen's picture

The problem is you are thinking and questioning.

You're only supposed to look at "Unemployment down to 7.7%" then go to WalMart and buy some plastic crap made in China and not think about the people working there and Starbucks and Chipotle making under $10/hour and 29 hours a week.

Next you'll be questioning how 150K jobs added can make up for 300K jobs lost per month and how decreasing average income and savings on 0.05% interest can ever possibly in the realm of all possibilities pay down $16 Trillion in debt.

Sheesh!  Take your SOMA and get out the credit card already!

Fri, 12/07/2012 - 13:52 | Link to Comment Seer
Seer's picture

Um... (d) "All of the above" ("all" is a good option, it sounds so accommodating! snark, snark)

Fri, 12/07/2012 - 11:01 | Link to Comment Racer
Racer's picture

Old people are forced to work because their savings earn nothing, or in reality are losing value through lack of interest payment to keep pace with inflation (which is under reported)

Fri, 12/07/2012 - 11:05 | Link to Comment azzhatter
azzhatter's picture

This^^^^

Fri, 12/07/2012 - 12:27 | Link to Comment viahj
viahj's picture

the hard, cold reality of ZIRP. 

Fri, 12/07/2012 - 11:02 | Link to Comment The Master
The Master's picture

Parents' basements will be getting a lot of love for years to come.  Posters, upgraded fixtures, new furniture....this will probably be spun as a value-enhancer for homes across the country

Fri, 12/07/2012 - 11:14 | Link to Comment Coldsun
Coldsun's picture

It's hard to spin bean bag chairs, lava lamps and bong residue.

Fri, 12/07/2012 - 11:27 | Link to Comment Bastiat
Bastiat's picture

Choom room?

Fri, 12/07/2012 - 11:27 | Link to Comment Bastiat
Bastiat's picture

Choom room?

Fri, 12/07/2012 - 17:07 | Link to Comment Freddie
Freddie's picture

Hope & Change.  Yeah yeah red team blue team.  Romney was a shill who took a dive. Everyone knows it.   Keep watching TV like dumb sheep.

Fri, 12/07/2012 - 11:57 | Link to Comment ceilidh_trail
ceilidh_trail's picture

Got some living next door. Left their house in the middle of the night. They drive new cars (one they just bought 2 months ago). They go out to eat and hit the bars still. He is a union railroad worker. She doesn't work. They have two less than 10 yo kids who run around unsupervised. More than likely no savings- who knows? I sure than hell don't feel sorry for them. I feel sorry for me because they ruin the tranquility of our neighborhood whilst living in my elderly cancer ridden neighbors house.

Fri, 12/07/2012 - 13:02 | Link to Comment donsluck
donsluck's picture

You are just being mean.

Fri, 12/07/2012 - 11:01 | Link to Comment FLUSA.com
FLUSA.com's picture

Paging Mr. Jack Welch...Paging Mr. Jack Welch...

Fri, 12/07/2012 - 11:02 | Link to Comment q99x2
q99x2's picture

Where do people get the idea that it is a good for people to work. I'm of the impression that the more prosperous a society is the fewer people that have to work. The fewer people that work the better. Traffic for one example.

Fri, 12/07/2012 - 11:08 | Link to Comment FLUSA.com
FLUSA.com's picture

Indeed...worked well for the Romans.  What good is it to be an American if you have to lift a finger?

Fri, 12/07/2012 - 13:07 | Link to Comment donsluck
donsluck's picture

Good insight, but the founders of the Fed realized this 100 years ago and invented the method for skimming off the improvements in efficiency, by "lending" money into existence. If you follow the thought out to it's conclusion, the only way for money to legitimately enter the economy (without the burden of the loan) is through bankruptcy. Get it? Lend to a business, they pay back with interest, but the interest itself had to be loaned into the system, it all snowballs until someone goes bankrupt, then the debt from all the money loaned to them (already distributed in wages and materials) is forgiven. Therefor, the more the bankruptcy, the more unburdened money in the system.

Fri, 12/07/2012 - 11:04 | Link to Comment Bastiat
Bastiat's picture

55+ increase: laid off workers taking multiple mcjobs and negative wealth effect forcing retirees to supplement retirement income.  Any other thoughts?

Fri, 12/07/2012 - 11:20 | Link to Comment IamtheREALmario
IamtheREALmario's picture

If it is anything like our company -

- Companies are hiring people who a) have existing useful relationships, b) have as much relevant experience as possible, c) are less expensive than they were in the past ... so they appear as a "bargain", d) can make an immediate impact, e) many have international experience with industries that are now manufacturing overseas

- The people doing the hiring are the older people and so they hire people more like themselves

- Older people are willing to work and have not been spoiled by the progressive culture, so they are humble and just work. Noting this, employers hire more of the same.

The biggest issue I see with this is that younger people are not being trained in useful occupations... because it is easier and cheaper to just hire someone experienced.

Fri, 12/07/2012 - 11:28 | Link to Comment JMT
JMT's picture

 Companies are hiring people who a) have existing useful relationships, b) have as much relevant experience as possible, c) are less expensive than they were in the past ... so they appear as a "bargain", d) can make an immediate impact, e) many have international experience with industries that are now manufacturing overseas}}

So what is wrong with that??  You know hiring the best person for the job who isn't a drama queen, is able to get the job done without needing their hand held every step of the way. Or are you one of these Latte drinking types that think everyone is owed a job and that parents should give their kids anything they ask for because they are 'victims' of the economy..

Fri, 12/07/2012 - 11:25 | Link to Comment JMT
JMT's picture

I thought those went to the 20 somethings, the ones who couldn't get into a good college because they partied, drank or took much oxycontin and other stuff (no one thinks about conseqences from stupid behavior).  Must explain why customer service at many retail places has gone into the toilet. 

It seems that many job postings ask for 2-5 years of experience with a BA/BS degree (but no higher). 

Fri, 12/07/2012 - 11:05 | Link to Comment tooriskytoinvest
tooriskytoinvest's picture

The End Of US Is Coming? Jobless Rate Falls To 7.7% Due To 540,000 People Drop From Labor Force While The United States Actually Has A Higher Percentage Of Workers Doing Low Wage Work Than Any Other Major Industrialized Nation Does!

http://investmentwatchblog.com/the-end-of-us-is-coming-jobless-rate-falls-to-7-7-due-to-540000-people-drop-from-labor-force-while-the-united-states-actually-has-a-higher-percentage-of-workers-doing-low-wage-work-than-any-other-ma/

Fri, 12/07/2012 - 11:08 | Link to Comment csmith
csmith's picture

Not hard to see why. Younger, unskilled people have figured out that FISCAL policy (extended unemployment, SNAP, etc.) is telling them to take it easy!!! You're a victim of the capitalist system, after all. And who needs something as annoying as a JOB when you can watch cable all day?

Older people have figured out that MONETARY policy (ZIRP, dollar debasement, etc.) is telling them to GET TO WORK or the savings they (supposedly) amassed during their working lives won't even allow them to buy cat food.

Incentives matter, and our "leaders" have them completely backwards. We're losing an entire generation.

Fri, 12/07/2012 - 11:21 | Link to Comment exi1ed0ne
exi1ed0ne's picture

We are not lazy, we're just on vacation!

Fri, 12/07/2012 - 11:45 | Link to Comment TonyCoitus
TonyCoitus's picture

 

Please, call it a sabatical.  Sounds more sophisticated.

Fri, 12/07/2012 - 11:22 | Link to Comment Central Bankster
Central Bankster's picture

I see zero incentives to work beyond consumption... That is the issue. It will just be taxed and inflated away. Who wants to work hard to pay for a decade of wars and generous social welfare to the old and single mothers? I don't. 

Fri, 12/07/2012 - 11:26 | Link to Comment GMadScientist
GMadScientist's picture

You do know that the jobs the youth actually have aren't reported in these stats, right?

Is a weed dealer that grows his own an FP or NFP?

Take a look at the number of people applying for any given shitjob, and then go fix your bassackwards retard logic about "incentives".

Fri, 12/07/2012 - 11:29 | Link to Comment SilverMoneyBags
SilverMoneyBags's picture

I would argue that younger people have way more skill sets than older workers. When these older workers were kids they had to do everything by hand and they read the Encyclopedia of Britannica to get information. Today's 20 somethings have grown up with a remembernce of the world before computers but were young enough to adopt them and understand them. I work with people in their 50s that can barely operate technology, its a joke really. these aren't stupid people either, we are all college educated and a lot of the 50+ crowd also have advanced degrees. But there is a huge difference in production between ages and the youngsters are kicking the old peoples asses.

Fri, 12/07/2012 - 12:12 | Link to Comment ceilidh_trail
ceilidh_trail's picture

I am in the healthcare field and for myself, I see the opposite. I am 50+. I can run rings around 20 yr olds in every aspect except for data entry in EMRs. But, they are waaay better at surfing the web on paid time- something that I never do. 

Fri, 12/07/2012 - 13:02 | Link to Comment sharky2003
sharky2003's picture

Our hospital just went to all computer charting program (from paper). It's the worst getting report on a patient from the older nurses as they are absolutely clueless. I just smile and nod and end up looking up what I need to after they are gone. Of course they are all frustrated with it, and are amazed how quickly the younger ones pick up on things. I imagine they'll soon retire because of it.

Fri, 12/07/2012 - 11:35 | Link to Comment roadhazard
roadhazard's picture

January numbers are going to be Excellent as long term unemployment ends.

Fri, 12/07/2012 - 17:10 | Link to Comment Freddie
Freddie's picture

The "leaders" know what they are doing.  The objective is to destroy.

Fri, 12/07/2012 - 11:04 | Link to Comment hugovanderbubble
hugovanderbubble's picture

FITCH to downgrade UK 

War between France and Uk nice :)

Fri, 12/07/2012 - 11:09 | Link to Comment slaughterer
slaughterer's picture

Downgrade gang bang and bummer Bohner at 11am should save us poor, heroic shorts.  

Fri, 12/07/2012 - 11:15 | Link to Comment dcj98gst
dcj98gst's picture

Obama will haved "created" more jobs then any previous president when the retired Americans will have to work two or three low paying jobs because their life's savings have been destroyed by the comming currency collapse.  JOBS! JOBS! JOBS!

Fri, 12/07/2012 - 11:16 | Link to Comment My Days Are Get...
My Days Are Getting Fewer's picture

69 Years old.  Self-employed since 1980. Best decision I ever made. No plans to retire.

Forget about "getting a job".  Set up your own deal.  Do what others do not want to do.

Paul has been spraying the outside of my VT house for cluster flies for the past 15 years.  Makes $250 per house.  Ok, he has to wear a yellow rubber suit and handle poisons.  He makes very good money doing what no one wants to do.

There is work out there for those who will take risk and get their hands dirty.

 

 

Fri, 12/07/2012 - 11:22 | Link to Comment JMT
JMT's picture

But what about Health Insurance & Taxes (SE Taxes)??  If you live in a large city like NYC, both are ridiculous which is why the 'employer/employee' model is favored. 

Health Insurance for an individual who buys it on the open market costs at least $500 a month and that is assuming you are in perfect health. Rx Coverage is typically not offered in an individual policy.  This is before Obamacare goes into effect. Convieniently left out is how much this is going to cost people who buy it from one of these 'exchanges'. 

Fri, 12/07/2012 - 11:40 | Link to Comment roadhazard
roadhazard's picture

It all depends what your income bracket is. If you only make 10K a year you will have a very low rate. Health Care Reform is means tested but I'm sure wingers can bitch about that too.

Fri, 12/07/2012 - 13:09 | Link to Comment Kobe Beef
Kobe Beef's picture

Bankster Headhunter.

Do NOT follow this link or you will be banned from the site!