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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 - 11:48 | 3042814 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 | 3042549 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 | 3042674 GMadScientist
GMadScientist's picture

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

Fri, 12/07/2012 - 11:25 | 3042697 Lendo
Lendo's picture

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

Fri, 12/07/2012 - 12:56 | 3043032 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 | 3042555 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.


Fri, 12/07/2012 - 11:44 | 3042799 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 | 3043045 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 | 3043258 mkhs
mkhs's picture

You show wisdom, grasshopper. Namaste.

Fri, 12/07/2012 - 13:49 | 3043224 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 | 3043245 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 | 3042556 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 | 3042824 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 | 3043233 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 | 3042557 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 | 3042577 azzhatter
azzhatter's picture


Fri, 12/07/2012 - 12:27 | 3042951 viahj
viahj's picture

the hard, cold reality of ZIRP. 

Fri, 12/07/2012 - 11:02 | 3042558 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 | 3042632 Coldsun
Coldsun's picture

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

Fri, 12/07/2012 - 11:27 | 3042710 Bastiat
Bastiat's picture

Choom room?

Fri, 12/07/2012 - 11:27 | 3042712 Bastiat
Bastiat's picture

Choom room?

Fri, 12/07/2012 - 17:07 | 3043911 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 | 3042842 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 | 3043051 donsluck
donsluck's picture

You are just being mean.

Fri, 12/07/2012 - 11:01 | 3042564 FLUSA.com
FLUSA.com's picture

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

Fri, 12/07/2012 - 11:02 | 3042567 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 | 3042599 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 | 3043065 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 | 3042570 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 | 3042656 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 | 3042717 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 | 3042699 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 | 3042574 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!


Fri, 12/07/2012 - 11:08 | 3042575 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 | 3042675 exi1ed0ne
exi1ed0ne's picture

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

Fri, 12/07/2012 - 11:45 | 3042806 TonyCoitus
TonyCoitus's picture


Please, call it a sabatical.  Sounds more sophisticated.

Fri, 12/07/2012 - 11:22 | 3042682 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 | 3042706 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 | 3042724 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 | 3042901 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 | 3043054 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 | 3042760 roadhazard
roadhazard's picture

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

Fri, 12/07/2012 - 17:10 | 3043918 Freddie
Freddie's picture

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

Fri, 12/07/2012 - 11:04 | 3042576 hugovanderbubble
hugovanderbubble's picture

FITCH to downgrade UK 

War between France and Uk nice :)

Fri, 12/07/2012 - 11:09 | 3042609 slaughterer
slaughterer's picture

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

Fri, 12/07/2012 - 11:15 | 3042643 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 | 3042644 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 | 3042684 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 | 3042790 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 | 3043071 Kobe Beef
Kobe Beef's picture

Bankster Headhunter.

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