• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

Where The Jobs Are: "55 And Older"

Tyler Durden's picture


A good jobs report? Sure, if one is 55 and over. In December the American jobs gerontocracy continued its relentless course, and as the two charts below summarize since Obama's first term, some 2.7 million jobs in the 16-55 year old category have been lost. The "offset": 4 million jobs for Americans between 55 and 69. For all those young people graduating from college (with $150,000 in student loans) who are unable to get a job, here is our advice: tell your parents, and grandparents, to retire already. Oh wait, they can't because Bernanke destroyed their savings. Oops - better luck next time.

Job "gains" for all Americans 54 and younger vs those 55 and older:

And the same broken down by segment:

Source: BLS

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Fri, 01/04/2013 - 11:08 | 3121945 Freddie
Freddie's picture

They voted for it. They wanted the islamo hipster.

Fri, 01/04/2013 - 11:24 | 3122009 GMadScientist
GMadScientist's picture

Because the alternative wasn't itching to send them into Iran?!


Neocon many-valued logic and gnat-like attention span; a powerful combo.

Fri, 01/04/2013 - 12:21 | 3122283 ZeroAvatar
ZeroAvatar's picture

We'll ALL be cannon fodder in the next war.  Those bombs will be raining down right here in America. 


Oh, we're special............that can't happen here.  /s


Tell that to a frustrated 24-year-old Chinese soldier.  Tell that to 'Pre-emptive' Putin. 

Fri, 01/04/2013 - 12:45 | 3122410 Freddie
Freddie's picture

Nobody was going to Iran.  An Iranian lib slumlord is President - you do know that don't you?

Fri, 01/04/2013 - 10:59 | 3121901 MachoMan
MachoMan's picture

Two choices old coots: (1) give the youngins a bite at the equity apple (ownership) and we'll keep paying into the failed system; or (2) take all our jobs and we'll leech off your peasant wages, occupy your basements, and refuse to show you how to work rudimentary electronic devices...  until such time as you "retire".

Fri, 01/04/2013 - 11:21 | 3122001 RSBriggs
RSBriggs's picture

Hey dipshit, I designed and built a great number of those electronic devices.  Suffice it to say I know how they work a whole lot better than you do.

Fri, 01/04/2013 - 11:44 | 3122103 MachoMan
MachoMan's picture

Are you representative of your generation?  Are you arguing the exception or the rule?

Fri, 01/04/2013 - 12:13 | 3122245 The Joker
The Joker's picture


Seth: You know you can really get trapped in that web of beepers and Zenith televisions and Walkmens and Discmans and floppy discs and zip drives, laser discs, answering machines and Nintendo Power Glove...

Linda: Wow, you know so much about technology.


Fri, 01/04/2013 - 11:01 | 3121906 Uncle Zuzu
Uncle Zuzu's picture

I noticed the burger flippers are getting older.  Supersize me, Grandpa!

Fri, 01/04/2013 - 11:13 | 3121970 lolmao500
lolmao500's picture

But but but that's impossible, all the Obamabots are telling me that the old folks are retiring!

Fri, 01/04/2013 - 11:24 | 3122014 NoDebt
NoDebt's picture

They ARE retiring.  You are still allowed to earn WalMart greeter wages and keep getting your full SS check.  Especially true if you work PART TIME.

Does that clear things up?

About the time you read that and say "but, wait.... if that's true then it's even WORSE than what I thought....." THAT'S when you got the full horror of it.

Fri, 01/04/2013 - 12:24 | 3122301 toady
toady's picture

Everyone seems to be missing the 'good' part of 'good jobs'.

You are not going to get this 'good job' when the 'stupid, lazy, boomer' retires. The 'boomer' was hired 25 or more years ago in an environment where it received pension, medical, dental, etc. benefits on top of a good wage. The corporations have been very good at eliminating these people / positions, but they haven't gotten rid of them all yet. THOSE people are the number showing up as this statistic.

When five of these retire one college grad will be hired at half of one of the retirees wage with no beni's because it is an independent contractor. It will work 80 hours a week doing the work of five people and either burn out or be fired because it cannot complete the work of five people on a week-to-week basis.

So I say we applaud the last of a dying breed as they ride off into the sunset. Their kind will not be seen again

Fri, 01/04/2013 - 11:00 | 3121907 hooligan2009
hooligan2009's picture

maybe they (>55 yo's) arent lazy, obese, with fat thumbs, can see only three feet to an i-phone screen and cauliflower ears

Fri, 01/04/2013 - 11:06 | 3121938 MachoMan
MachoMan's picture

Or maybe they're so in love with their servitude, they don't know any other way?

Fri, 01/04/2013 - 11:22 | 3122007 GMadScientist
GMadScientist's picture

More likely are obese and need to keep some means of acquiring blood pressure meds.

Fri, 01/04/2013 - 11:41 | 3122092 yabyum
yabyum's picture

Hooligan, We do not have any facial tats metal in our faces or gages in our ears. Have you ever noticed the ears of a gageless person? They look like withered assholes.

Fri, 01/04/2013 - 11:50 | 3122119 Rainman
Rainman's picture

hope I live long enough to see the " tats on wrinkles " look the moronielles will be sporting. That oughta be a real hoot !!

Fri, 01/04/2013 - 11:01 | 3121908 Jason T
Jason T's picture

so many 25-55 folks went Galt .. living self sufficent lives..out of system.  Nobody to loot their wages.

Fri, 01/04/2013 - 11:05 | 3121930 Cursive
Cursive's picture

@Jason T

The underground economy is where it's at.  If Thomas Jefferson were alive today, he'd be bartering and/or accepting only cash.

Fri, 01/04/2013 - 11:18 | 3121991 caimen garou
caimen garou's picture

 right jason,we are living with in our means,debt free,  but out of the system? no, we still get hit by property taxes,sales tax, health care cost, rising food and energy cost. the system will get you no matter what you do it's just a matter of how hard you get hit!

Fri, 01/04/2013 - 11:24 | 3122011 francis_sawyer
francis_sawyer's picture

Which makes 'LIVIN IN THE BASEMENT'... in reality... a sensible choice... Fuck the 'stigma'... If they're so inclined, let all your phony jerk friends carry the load (while you keep stacking in the basement & bone up on horticulture & engineering)...

Fri, 01/04/2013 - 11:31 | 3122045 Jason T
Jason T's picture

I plus'ed you.  You're right, it's not easy.  I exagerated to see response but seriously, I think smart folks have this desire for sure.  I know I do.  well, on the front of self sufficiency at least, I still want to contribute to society.  Food and energy can totally be done however.  Property tax is only concern, just don't live in expensive neighborhood.  

Food and energy are my concentration of being self sufficient.  Can put a huge dent in that part for sure.   Have an electric powered car and have own solar panels to charge, there's your car power. 

Home Economics needs a revolution.




Fri, 01/04/2013 - 11:38 | 3122077 hooligan2009
hooligan2009's picture

you pay no property taxes or health care and you get food stamps and free power when you are out of work PLUS you get u/e benefits this is the chart that explains it all


you only need to work as hard as a shelf stacker to earn the equivalent of 69,000


Fri, 01/04/2013 - 11:02 | 3121911 not fat not stupid
not fat not stupid's picture

If greedy CEOs/boards gave up 1-2 cents EPS per quarter and put the money back into all the training programs they ditched between 1985-2005, masses of young people would get work, buy homes, start to invest.


But the cocksuckers are too busy buying 4th and 5th homes.

Fri, 01/04/2013 - 11:15 | 3121979 duo
duo's picture

Back in the 90s the semiconductor co I worked for made everyone take 40 hours of training per year.  That stopped in 2001, as employees became a liability.

Fri, 01/04/2013 - 12:49 | 3122429 pitz
pitz's picture

The youth have more training than ever and are more qualified than their predecessors.  CEO's wouldn't even need to give up any EPS to get them into the workforce.  The age preference simply needs to be ended.  It is illegal.  It is immoral.  At least "grandpa" has a lifetime of savings and social security/medicare to fall back upon.  The young people, nothing except for debt. 

Fri, 01/04/2013 - 11:02 | 3121913 davinci7_gis
davinci7_gis's picture

Hey, don't forget that this is what WAR is for...to take all those protesting, unemployed youth and put them on the front lines!

Fri, 01/04/2013 - 11:14 | 3121973 lolmao500
lolmao500's picture

And then the old die and the young are dead because of the war... leaving you with... illegal immigrants!

Fri, 01/04/2013 - 12:39 | 3122383 Vendetta
Vendetta's picture

that seems so accurate

Fri, 01/04/2013 - 11:02 | 3121914 LawsofPhysics
LawsofPhysics's picture

A by-product of regulatory capture by the banking cartel, who want to be the only ones allowed to collect interest (money for nothing).  Gee, allow mom and dad to actually generate a return by investing their savings and things might have actually turned around (ignoring the energy issue of course).  Apparently, allowing anyone, other than the Fed, to collect interest is bad and society is quite comfortable with sacraficing it's children already.  This should end well (for those properly positioned).  Same as it ever was.

Fri, 01/04/2013 - 11:06 | 3121936 sharky2003
sharky2003's picture

I don't understand this trend. You'd think employers would want the cheap (young and healthy) workers. What am I missing?

Fri, 01/04/2013 - 11:10 | 3121954 Freddie
Freddie's picture

Old people actually show up to work

Fri, 01/04/2013 - 11:39 | 3122080 Stuck on Zero
Stuck on Zero's picture

The older workers listen, are courteous, don't wear iPODs, know how to count and make change, and are capable of reading and writing.


Fri, 01/04/2013 - 12:48 | 3122425 Freddie
Freddie's picture


Old folks are not texting all day and updating their Facebook page too.  ;-) 

I had to hire someone about 6 years ago.  The young people never even showed up for the interview. 

The older person who was hired was there everyday, you could trust them with the keys, they never let you down, etc. 

F TV, F Hollywood and F Facebook.

Fri, 01/04/2013 - 11:11 | 3121959 Hohum
Hohum's picture


What you're missing?  Medicare or other paid health care.

Fri, 01/04/2013 - 11:14 | 3121965 LawsofPhysics
LawsofPhysics's picture

If you are producing icrap, then yes, you want cheap workers.  If you are trying to actually innovate or produce a product of high quality that must be dependable and not break down (like a nuclear reactor), you need intelligent, experienced workers.  Could be a good or bad sign for the eCONomy.  I still see some serious structural problems out there.  Older workers tend to have a much better work ethic as well.

Fri, 01/04/2013 - 11:13 | 3121971 FubarNation
FubarNation's picture

Have you tried to hire and keep a 'young' employee lately? 

Most suck, are unreliable, expect to make 100K/year, and have a entitlement mentality. 

The single young Moms are the best.  They hardley ever show up.  Kids sick - no one to look after them.  Kid has a doctors appt. no one else to take them.

Not all of them but so many of them fall into this category.


As an employer I get a first hand look at how fucked we are as a country when I look at the younger generation (btw I work with Kids too - don't even get me started).

Fri, 01/04/2013 - 11:58 | 3122163 uno
uno's picture

that is exactly what I have been hearing for years, a young person who is punctual, dresses appropriate for the workplace, and can communicate is gold and will get raises and additional hours and opportunites.  So many cannot put together a simple resume.

Fri, 01/04/2013 - 12:43 | 3122401 Vendetta
Vendetta's picture

I was tasked with training two new mechanics (A&P), went out to the plane and as I started setting up all the equipment and get everything going, they had found a spot on the floor in the hangar and spent all the time texting and would ignore everything I told them about what to do.  Fortunately was able to get rid of one of them, the other somehow managed to stay on.

Fri, 01/04/2013 - 21:30 | 3124381 ersatzteil
ersatzteil's picture

I cannot understand the mentality of my peers. As a 'young' employee out of grad school I logged over 100 hours of overtime - unpaid - during my first year at my current job. I figured all that work would safeguard my job during the inevitable firing cycles that happen.

Most people I know have never seen a 40-hour work week, and are living at home out of college, with vague speculations on 'grad school', and the accompanying delusions of grandeur that go with it.

I think the crisis comes from the realization that they will never have what their parents had - home ownership, car ownership, etc... It's a generation of renters. Riches to rags, basically.

Fri, 01/04/2013 - 11:13 | 3121972 MachoMan
MachoMan's picture

(a) none of these jobs come with provided healthcare or any other perk;

(b) the perception of work ethic is that older persons have a better work ethic;

(c) while a young person dreams to achieve greater than these jobs, the old person has no choice, knowing full well that winter is coming and he has yet to squirrel away enough nuts;

(d) experience;

(e) pity; and

(f) supplemental income (young workers have debt/dependent children; older workers have assets/pensions/SS/independent children/etc.)...

among others...

Fri, 01/04/2013 - 13:03 | 3122503 Proofreder
Proofreder's picture

re: (e)  pity    WTF?


• a belief or point of view that is accepted with unthinking conventional reverence

Fri, 01/04/2013 - 15:26 | 3123253 MachoMan
MachoMan's picture

Pity...  the feeling of sadness or sorrow for the elderly...  whereas youngsters get no such thing.

Fri, 01/04/2013 - 11:32 | 3122047 GMadScientist
GMadScientist's picture

"What am I missing?"

They aren't paying for healthcare for these old folks (the 29-hour per-week McJob) so their age doesn't matter and minimum wage is minimum wage regardless of your age.

Fri, 01/04/2013 - 11:10 | 3121953 lolmao500
lolmao500's picture

The scumiest generation continue their reign.

Fri, 01/04/2013 - 11:10 | 3121956 Navymugsy
Navymugsy's picture

Maybe the cheap, young, healthy workers can't read?

Fri, 01/04/2013 - 11:20 | 3121997 GMadScientist
GMadScientist's picture

Maybe the young, healthy workers are making a lot more money slinging dope to you.

Fri, 01/04/2013 - 11:12 | 3121963 Hedgetard55
Hedgetard55's picture

At least 55 year olds and up can read and write past a 6th grade level.


I took a part time job 3 months ago rather than sit home and read ZH all day like I was doing.

Fri, 01/04/2013 - 11:14 | 3121975 sbenard
sbenard's picture

My mother is thinking about going back to work because her CDs bear so little interest that she can't afford not to. She's 84!
Thanks, Bernanke!

Fri, 01/04/2013 - 11:16 | 3121984 The worst trader
The worst trader's picture

Jobs are over rated! Why work when everything can be free? Oh wait........... I'm a white male.

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