Number Of Older Workers (55 And Over) Rises To New Record High

Tyler Durden's picture




 

In the latest installment of another long-running series, we look at the age bracket distribution of those who are lucky enough to get new jobs each month, versus those who aren't. It should come as no surprise that once more the majority of new jobs created in the month of May went to the oldest age-group cohort, those 55 and older, which saw an increase of 203,000 jobs in May, more than every other age group bracket. The result: with an all time high 31,488,000 workers aged 55-69, Americans are far more busy working in their older years than retiring (or gambling in the rigger stock market casino).

Which is why perhaps it is quite appropriate that the E-trades of the world use a baby as their mascot. Because with the bulk of jobs going to old people, those 55 and younger are getting the sloppy seconds of whatever the older generation doesn't want. Which isn't much. 

As the chart below shows, since the start of the Obama regime, 4.3 million jobs have been created for workers 55 and older. Everyone else? A loss of 2.5 million jobs.

In short: the gerontocratic, retirement-less recovery.

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Fri, 06/07/2013 - 10:11 | 3633508 Jason T
Jason T's picture

baby boomers ..  having cake and eating it too.   

Fri, 06/07/2013 - 10:13 | 3633518 Edward Fiatski
Edward Fiatski's picture

The youth will be using them for soap when the time comes.

Fri, 06/07/2013 - 10:18 | 3633538 localsavage
localsavage's picture

So you think that any of them have the skills to make anything....even soap

Fri, 06/07/2013 - 10:20 | 3633553 Incubus
Incubus's picture

You just boil it and skim off the lye at the top? 

 

Dunno. I need to study fight club again.

Fri, 06/07/2013 - 11:31 | 3633793 El Viejo
El Viejo's picture

Tell them to join the military. They'll get free soap and all the fight they want.

Fri, 06/07/2013 - 12:02 | 3633920 TPTB_r_TBTF
TPTB_r_TBTF's picture

 

 

Many boomers can go 8 hours without checking their social media accounts;

wherease, most youngins cannot last even a few minutes without their iToys.

Fri, 06/07/2013 - 12:07 | 3633950 yabyum
yabyum's picture

tptb, 1000+. I only need to change my depends twice a day.

Fri, 06/07/2013 - 12:44 | 3634166 max2205
max2205's picture

Somebodys got to pay into Soc Sec and never get anything back

Fri, 06/07/2013 - 19:00 | 3635601 Lost Word
Lost Word's picture

Are these real numbers or just estimates and percentages of work force ?

My guess is that the + 55 age percent dropping out of the work force is increasing and not counted in the employment rate, therefore the +55 age employment rate only appears to be increasing.

Fri, 06/07/2013 - 10:21 | 3633559 camaro68ss
camaro68ss's picture

cant you make soap on farmville? Im an great farmer, you should see my farm....

Fri, 06/07/2013 - 10:58 | 3633659 francis_sawyer
francis_sawyer's picture

I can teach you how to make rope from natural wood fibers if you want to complete the yahtzee...

Fri, 06/07/2013 - 11:28 | 3633783 Edward Fiatski
Edward Fiatski's picture

That is a good question - Have their parents taught them well? :-)

Fri, 06/07/2013 - 10:48 | 3633647 alien-IQ
alien-IQ's picture

not if that youth is as stupid as you appear to be. more likely, you'll end up being the soap.

Fri, 06/07/2013 - 10:54 | 3633663 francis_sawyer
francis_sawyer's picture

take a look around the room... If nobody looks like a potential bar of soap... you're it...

Fri, 06/07/2013 - 11:19 | 3633751 PiltdownMan
PiltdownMan's picture

Ugh. But it is a troubling trend.

And markets rally on 175K low paying job report and 90 million not in labor force???????????????

http://confoundedinterest.wordpress.com/2013/06/07/non-farm-payrolls-increase-175k-but-89-7m-not-in-labor-force-markets-rally/

Fri, 06/07/2013 - 10:18 | 3633540 insanelysane
insanelysane's picture

I agree that they had their elected officials raid the social security fund in the '80s and '90s and are now looking for the money again but that generation shows up to work on time and does their work without complaint.

The millenials in the office drive me crazy with their excuses as to why they are late; alarm didn't work, using phone as alarm but battery died, got halfway to work and forgot computer, needed to stop for gas, ...

Fri, 06/07/2013 - 10:45 | 3633594 Dr. Richard Head
Dr. Richard Head's picture

While I agree partially with you, I would like to point out that work is not always someplace you go, rather it is what you do.  If I am more efficient and can achieve the same or greater results in less time than the one is on-time to the minute every day, does it really matter what time I come into work?  Granted, I am 35 and have worked for the same company since 1996.  Perhaps the leaway I enjoy, allong with part ownership of the company, is why 9 am sometimes comes to 9:15 am like today. 

I think the greater commentary regarding these charts and this article is in the fact that the boomers, who were promised the greener pastures of retirement through the social "safety net" of social security, are finding out that their days in the salt mine are not numbered and may not end until their last breath of death. These boomers, by the way, are the same ones that defend the system when their favorite team is in power and bitch about the system when their team is not, while not seeing the truth that neither party gives a flying fuck about them, their liberty, or their property.

Then again, I am falling right into the social divide that your argumennt espouses.  I guess I took it - hook, line, and sinker.

Fri, 06/07/2013 - 11:42 | 3633826 DaveyJones
DaveyJones's picture

Sam Walmart has an incredibly generous senior citizen employment policy. I can't remember the details, but I do know they get a deep discount on cat food 

Fri, 06/07/2013 - 12:01 | 3633916 Midasking
Midasking's picture

To debate this is futile.. the US is screwed. No jobs, Huge Debt, Huge Gov., no work ethic.. Time to move on http://tinyurl.com/n8hmfya

Fri, 06/07/2013 - 10:19 | 3633549 ShrNfr
ShrNfr's picture

Thank you, I will have some for dessert. But first I have to eat your lunch.

Fri, 06/07/2013 - 10:37 | 3633615 Go Tribe
Go Tribe's picture

You're so wrong. We come cheap now, is all. The illegal immigrants have stopped immigrating. We are the new illegals.

Fri, 06/07/2013 - 22:16 | 3636177 DosZap
DosZap's picture

You're so wrong. We come cheap now, is all. The illegal immigrants have stopped immigrating. We are the new illegals.

 

Don't know where you get your news, but your dead wrong.They have RUN OUT of applications already, and the illegals are being invited in, getting FREE everything, that WE all have paid for.

Open the gate, and all the horses get out or in.

Fri, 06/07/2013 - 10:46 | 3633642 alien-IQ
alien-IQ's picture

if you really believe that anybody in their 60's is happy about having to work a minimum wage job to be able to eat at this point in their lives, then I truly hope that you are forced to shovel shit for minimum wage until you drop dead.

Fri, 06/07/2013 - 14:19 | 3634642 Totentänzerlied
Totentänzerlied's picture

Happy about it, no. Deserving it for buying 50 years of insane prosperity with stolen wealth and not even having the integrity to admit it, and still demanding more plunder, big fuckin' YES.

They thought they could have it all for free, and so became willing accomplices. How's that working out for ya?

Fri, 06/07/2013 - 19:03 | 3635611 Lost Word
Lost Word's picture

Every age group is equally guilty of being sheep.

Fri, 06/07/2013 - 11:25 | 3633772 Meremortal
Meremortal's picture

My friends who run businesses say they look for boomers to hire. Boomers don't come to interviews demanding vacations as soon as they start their jobs. They also show up on time and actually do something besides play on their phones all day.

Fri, 06/07/2013 - 11:48 | 3633853 Midasking
Midasking's picture

baby boomers are in for a real treat! Mentally most won't be able to handle it.. and they will demand the government "do somthing"... think we are close to the breaking point. Can't wait to see this fiasco! Check out frogpots.com

Fri, 06/07/2013 - 10:11 | 3633509 Incubus
Incubus's picture

Movin' on up...

Fri, 06/07/2013 - 10:17 | 3633534 Chupacabra-322
Chupacabra-322's picture

No doubt they're working at Target, Wal Mart or The Home Depot making slave wage.

Fri, 06/07/2013 - 10:49 | 3633649 Dr. Richard Head
Dr. Richard Head's picture

The number of them that I see as cash register jockeys at fast food joints and shelf stockers at the grocery store used to make me a little sad.  After canvasing neighboorhoods to gather petition initiative signatures i have realized that the baby boomers are the ones in power and the baby boomers are the ones that defend the status quo more than any other age group.  Statism is their religion.

http://www.news-herald.com/articles/2013/06/05/news/doc51ae020c64b8b675299157.txt

Fri, 06/07/2013 - 10:55 | 3633668 francis_sawyer
francis_sawyer's picture

The trick is to get your 55+ moms & dads out there in the working force & move into their basement...

Fri, 06/07/2013 - 10:11 | 3633511 RaymondKHessel
RaymondKHessel's picture

Workaholics

Fri, 06/07/2013 - 10:11 | 3633512 aka Gil
aka Gil's picture

Those numbers will continue to increase. I'm one of those old fucks (barely). I haven't worked for 6 months but will be jumping back in soon.

Fri, 06/07/2013 - 10:39 | 3633617 Go Tribe
Go Tribe's picture

Good luck to you. My situation is deteriorating and I'm not looking forward to entering the serf force.

Fri, 06/07/2013 - 11:53 | 3633860 DaveyJones
DaveyJones's picture

Grow a garden. If you don't have land, find someone who does and cut a deal for some of the spoils. You could even sell the organic food or barter for something. Food prices will continue to rise while its quality drops and danger increases. Growing a lot of your own, getting that nutrition, that medical health and eating less meat can save you a lot in a lot of departments. You can grow year round in any of the contiguous US states. There is enough light and enough heat with plastic cover(s). I do in the Puget Sound area even when it drops to 25. Think outside the box and outside the box stores.  

Fri, 06/07/2013 - 10:12 | 3633514 RaymondKHessel
RaymondKHessel's picture

Retire, grab a pension, then start another job the following Monday. Double-dipping.

Fri, 06/07/2013 - 10:15 | 3633529 youngman
youngman's picture

That is how it works in the public sector... I am in Colombia with many doubles and even a triple dipper....

Fri, 06/07/2013 - 10:56 | 3633674 francis_sawyer
francis_sawyer's picture

next time take one dip & END IT!...

Fri, 06/07/2013 - 10:20 | 3633551 Osmium
Osmium's picture

What's a pension?

Fri, 06/07/2013 - 12:33 | 3634089 DaveyJones
DaveyJones's picture

and why does it rhyme with tension? 

Fri, 06/07/2013 - 10:12 | 3633515 CcalSD
CcalSD's picture

Work til you DIE!

Fri, 06/07/2013 - 10:31 | 3633597 alien-IQ
alien-IQ's picture

...or DIE looking for work.

it's what Wall Street calls a "win-win".

Fri, 06/07/2013 - 11:28 | 3633785 grid-b-gone
grid-b-gone's picture

Do what you like to do and working until you die is better than most other options.

Funny though, that those who grew up believing deficits matter are working (working longer, but working) and those who matured post-Cheney's wishful thinking comment are getting a late start in life.

Fri, 06/07/2013 - 10:13 | 3633516 RSloane
RSloane's picture

Retirement is too risky for seniors, even in this risk-on world we live in.

Fri, 06/07/2013 - 15:04 | 3634832 tarsubil
tarsubil's picture

It seems something like 50% of boomers keel over within the first 6 months of retirement. Most have been running their whole lives. Once they have time to sit and look at themselves their broken spirit leads them to the grave.

Fri, 06/07/2013 - 10:13 | 3633521 Kreditanstalt
Kreditanstalt's picture

WHAT are all these oldsters DOING?????  Curious...are they ALL Walmart greeters?  Can't be...

Fri, 06/07/2013 - 10:40 | 3633626 Go Tribe
Go Tribe's picture

We're everywhere: WalMart, Home Depot, golf courses, part-time placement serfs, etc. Sorry, but the "Greatest Generation" fucked us and saddled us with bubblemasters of the uniworst.

Fri, 06/07/2013 - 14:22 | 3634653 Totentänzerlied
Totentänzerlied's picture

Everywhere... In the useless credit-fueled service economy which is a net-destroyer of wealth. How can anyone ever thank you enough?

Fri, 06/07/2013 - 19:08 | 3635617 Lost Word
Lost Word's picture

Don't blame everyone for the crimes of a few.

Fri, 06/07/2013 - 10:43 | 3633635 W.M. Worry
W.M. Worry's picture

At the long haul LTL trucking Co. I just left the average owner/operator age is about 60. The funny thing is that I made the same net in 1983 as I made last year doing the same job. Luckily I design and build houses on the side so I'm going back to swinging a hammer. I'm 62

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