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Record Jobs For Old Workers; Everyone Else - Better Luck Next Month

Tyler Durden's picture




 

We have long been pounding the table (certainly since mid-2012) that the US labor market has become a place where mostly older workers - those 55 and over - are hirable - something which has nothing to do with demographics, and everything to do with excess worker slack, and an employer's market to pick and chose those workers that are most qualified for a job since older workers have the same wage leverage as younger ones: none. February was merely the latest confirmation of just this.

The chart below shows the age breakdown of the various age groups of workers hired in the past month. The vast majority, or 239K of the job gains(according to the Household survey), once again fell into the oldest group, those aged 55-69. The core demographic, those 25-54, rose by a negligible 29K. Everyone else, i.e., those 16-24, saw a total of 153K in job losses.

 

The good news (for them, and bad news for everyone else): the number of workers aged 55 and over just hit a fresh all time record high:

 

And finally, here is the full breakdown of "young vs old" jobs since the start of the Depression in December 2007: those 55 and older have gained 4.9 million jobs. Those under 55 are still some 3.1 million jobs below their December 2007 level.

 

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Fri, 03/07/2014 - 11:32 | 4521200 Hippocratic Oaf
Hippocratic Oaf's picture

The young are getting pi$$ed!

Too bad their anger, OCCUPY, is towards the wrong 'enemy'.

Fri, 03/07/2014 - 11:36 | 4521221 lordbyroniv
lordbyroniv's picture

Boomers..why wont you die ?!!?!  Die !!!

Fri, 03/07/2014 - 11:42 | 4521251 AssFire
AssFire's picture

"Why don't you put your head down on your desk and think about what you just said."

   -Mrs. Ward, my fourth grade teacher.

Fri, 03/07/2014 - 11:46 | 4521270 alphamentalist
alphamentalist's picture

older folks have plenty of wage leverage, as in much more ability to trade cheaper, than younger folks. young people have wives, kids, mortgages, (ahem) student loans, etc. people over the age of 55 have mainly paid those things off and are mainly trying to buy time between now and when they have to tap their retirement savings. in that case, they can bring much higher value to a potential employer. say they are more experienced, slightly more productive, whatever, AND can trade at 75% of the price a younger person can. what happens? hired.

Fri, 03/07/2014 - 11:51 | 4521288 boogerbently
boogerbently's picture

Work ethic.

Fri, 03/07/2014 - 12:06 | 4521356 The Big Ching-aso
The Big Ching-aso's picture

At the rate this is going pretty soon the 68 year olds are gonna be bitching that the 88 year olds are taking their jobs.

Fri, 03/07/2014 - 13:01 | 4521607 zaphod
zaphod's picture

Going as planned

Millenials learning that one should rely on the government, and not their independent labor. 

Fri, 03/07/2014 - 14:30 | 4522025 BTFDemocracy
BTFDemocracy's picture

There's a common trend I've started to pick up w/ young vs old people getting jobs--

 

The young are getting paid less, less education & experience, and with little to hold them down they jump from job to job, This causes the emloyers hassle to re-hiring.

Its easier to hire an old experienced person with debt oligations, because he won't run anywhere when he realizes there's no growth prospects in that job.. he'll have to swallow it, or he loses the house, etc...

Fri, 03/07/2014 - 20:27 | 4523496 weburke
weburke's picture

good for you for thinking reasonable, but, the darker guesses are more correct.

Fri, 03/07/2014 - 12:16 | 4521411 wallstreetapost...
wallstreetaposteriori's picture

Or that fact that they can't afford their heating bills on a social security income....  they do like it warm

 

Fri, 03/07/2014 - 12:18 | 4521415 Georgiabelle
Georgiabelle's picture

Work ethic and ZIRP. End ZIRP and I guarantee some of those older workers will retire. Continue ZIRP and they have no choice but to hang in there.

Fri, 03/07/2014 - 12:33 | 4521492 Bearhug Bernanke
Bearhug Bernanke's picture

agree. fuck ZIRP.

Fri, 03/07/2014 - 12:17 | 4521416 S5936
S5936's picture

Sans selfies & texting every 5 minutes.

Fri, 03/07/2014 - 12:26 | 4521426 zuuma
zuuma's picture

Most old goats lack the craving to constantly look at  & peck at a smartphone.

They also skip the useless, worthless 24/7 updating

of their NSA files social meda files.

 

In short, they get the job done. 

For less.

Fri, 03/07/2014 - 12:23 | 4521428 zuuma
zuuma's picture

and the old goats vote

Fri, 03/07/2014 - 12:05 | 4521354 corporatewhore
corporatewhore's picture

i'm over 62 and will gladly work for minimum wage so i don't have to have 3 helpings of my kibbles n bits.

Please.  This is utter bullshit.  I send out resumes every month for quality jobs.  If I get a response it's you're overqualified.  Usually I don't hear.  If i know someone on the inside i find out it's because i'm too old.

i'm not fooling myself and now just send them out to irritate the crap out of HR

Fri, 03/07/2014 - 16:52 | 4522761 DosZap
DosZap's picture

Please.  This is utter bullshit.  I send out resumes every month for quality jobs.  If I get a response it's you're overqualified.  Usually I don't hear.  If i know someone on the inside i find out it's because i'm too old.

i'm not fooling myself and now just send them out to irritate the crap out of HR

 

Truth,

Hell it was this way ALL the way back to '04, if YOu were over 50,your ass was grass.Unless you had a degree/trade.r something someone REALLY needed.Now it's 40yrs old.

Fri, 03/07/2014 - 12:55 | 4521575 Dr. Destructo
Dr. Destructo's picture

Depends on the boomer.

Many boomers I knew tried to save up but couldn't amass any meaningful savings to retire and rely on pensions/soc. security instead, and unfortunately I'm seeing a lot of boomers working as grocery store cashiers -jobs that people in their late teens/early twenties should be doing.

Experience? Maybe, but how many boomers out there are doing something completely unrelated to their skill set and requires little to no experience in order to make ends meet? Too many.

Seriously, I feel for the boomers, but many of us Gen Yers cannot enter the workforce when jobs are disappearing and boomers are unable to leave when many of them deserve to be retired and living out their days enjoying the fruits of their labor. On the flip-side. Gen Y workers are more desperate to keep their jobs due to bills and many of my fellow Gen Yers are lacking a spine to challenge authority as a result. If I was a heartless bastard I'd pick up a Gen-Yer overloaded with debt with a family to feed over a boomer who's paid off most of their debt and so on, but I lack that killer instinct.

Things will get worse, and it's not up to youngins such as myself to be the sole group to wage a revolution -the boomers need to get involved too not only to share their experience but provide direction as to where to strike and when. We're in this shit together and all of us need to take to the streets. I'm already doing that myself.

Fri, 03/07/2014 - 12:27 | 4521441 HardAssets
HardAssets's picture

AssFire:  "Why don't you put your head down on your desk and think about what you just said."

   -Mrs. Ward, my fourth grade teacher.

 

If Mrs Ward was a public school teacher, maybe you didn't tell the whole story -

 

Student:  "But Mrs Ward, its so boring to keep memorizing & repeating all the same lessons.  I fidget because I just can't stand this every day. I have my own ideas and I want to think for myself ! "

Mrs Ward:  "Why don't you put your head down on your desk and think about what you just said"

Add for today's Mrs Wards:  "And I think you need a time out and some meds."

Fri, 03/07/2014 - 12:58 | 4521587 Dr. Destructo
Dr. Destructo's picture

Terrifyingly accurate, and it reminds me of when I was in the fourth grade.

I am SO glad I didn't get zombie'd by meds.

Fri, 03/07/2014 - 14:17 | 4521954 Miffed Microbio...
Miffed Microbiologist's picture

There does seem to be quite an amount of animosity here about the boomers. Being a tail end boomer myself I identify with the gen x crowd more then the boomers. We worked hard, lived with in our means and saved to no avail. Bernanke destroyed that.

Perhaps the anger needs to be properly placed. In reality, you can fault a person for simply being born at a certain time. It was the greatest generation that produced this massive boomer generation so shouldn't the blame be placed on them? Now blaming in itself does seem to be pointless in that there is no resolution unless someone comes up with time travel and a large number of chastity belts.

The reality is the boomers will eventually die or become incapacitated so they will no longer hold these jobs. Whether these jobs will become available to others still remains to be seen. My technical position is being fazed out and I will probably will not need a replacement. This is a relatively high paying position. This will leave a plethora of lower paying positions and a few higher paying. Certainly the death of all boomers won't change this unfortunate fact.

Miffed;-)

Fri, 03/07/2014 - 11:40 | 4521246 vote_libertaria...
vote_libertarian_party's picture

Rather than rioting and turning over a few police cars the 'ute of today would prefer to twitter FURIOUSLY!!!!

 

(doesn't really have the same effect)

Fri, 03/07/2014 - 12:36 | 4521505 S5936
S5936's picture

Barraco Barner !!! That's gonna stick.
And she got a gcse in English ( whaever the fuck that is ).
Nice to the Brits education sys keeping up with Emerika.

Fri, 03/07/2014 - 14:17 | 4521953 Lost My Shorts
Lost My Shorts's picture

In defense of the poor lass, her basic point was correct even if she got some details wrong.

Also, if you look good bending over, you don't need to know stuff like who is president of what country.

Fri, 03/07/2014 - 15:05 | 4522215 ncdirtdigger
ncdirtdigger's picture

I never got past the picture of her lungs.

Fri, 03/07/2014 - 11:46 | 4521272 Smegley Wanxalot
Smegley Wanxalot's picture

older people dont FB and TWTR all day like 99% of the college hires I see.

Fri, 03/07/2014 - 13:01 | 4521605 Dr. Destructo
Dr. Destructo's picture

Initially Occupy was against Wall Street and the kleptomaniacs therein, but down the road the message was distorted by government plants and eventually the protests failed.

It's a textbook case of how proficient our government is at breaking up a nonviolent movement.

Fri, 03/07/2014 - 14:06 | 4521896 -.-
-.-'s picture

http://www.youtube.com/watch?v=CtrNj47u1D8

 

If you're soft, you're lost

To stay on course means to roll with Force

Fri, 03/07/2014 - 15:44 | 4522414 RaymondKHessel
RaymondKHessel's picture

Maybe. But my observation is the young feel entitled and the old feel obligated thus the young go to college to get a degree in "partying" while the old continue to work 10-15 years longer to pay for it.
Then of course you have the anti-saving anti-retiree 0% interest 15% real inflation and skyrocketing health care requiring the old old folks to take up gigs at Walmart.

Fri, 03/07/2014 - 11:43 | 4521204 TruthInSunshine
TruthInSunshine's picture

NEW NORMAL, BITCHEZ

HOPE & CHANGE

85 YEARS A SLAVE

"We will never, ever, ever [be able to retire from $7.17/hour jobs]"

55 & Older = "Would you like a refill on that Denny's coffee?"

"Welcome to Costco, I love you."

A d then there's the Herbalife "guilt your friends & family members into buying seaweed & kelp smoothies" business model - like Avon, or Girl Scout Cookies (cha-ching)

Eventually, the young HOPE & CHANGE crowd will see their shattered illusions...

...Because Obama

Fri, 03/07/2014 - 11:49 | 4521282 Smegley Wanxalot
Smegley Wanxalot's picture

Ahem.

 

For the Herbalife model to work, I need to:

. . . . . 1) have guilt, and

. . . . . 2) have friends ...

so it aint gonna work with me.

 

Fri, 03/07/2014 - 11:54 | 4521296 walküre
walküre's picture

Question is, are the old ones going to line up to go to war or are we sending the young ones and completely destroying our demographics in the process? Russia's demographics are in much worse shape than ours but still, it's an issue here too.

The generation responsible for the war mongering typically gets to stay in the geriatrics wards.

Fri, 03/07/2014 - 12:25 | 4521461 waterhorse
waterhorse's picture

Simple fix:  The politicians and cabinet advisors who advocate war should mandatorily be on the front lines of said wars.

Fri, 03/07/2014 - 11:32 | 4521205 skwid vacuous
skwid vacuous's picture

the young'ns should go look for a job at JC Penney, apparently they have "turned the corner"

Fri, 03/07/2014 - 11:35 | 4521219 Winston Churchill
Winston Churchill's picture

Staples  and Radioshack need help boarding up stores.

Fri, 03/07/2014 - 15:10 | 4521847 TruthInSunshine
TruthInSunshine's picture

+
Kmart
Sears
JCP
Best Buy (they are going into smaller "mall" locations)
Dots
Ace Hardware
Nordstrom
Macy's
A&F
Hot Topic
Sbarro
FYI
Any # of Darden Group Restaurants
etc
etc
etc

Fri, 03/07/2014 - 20:37 | 4523531 StychoKiller
StychoKiller's picture

But, but SBarros makes great NY-style pizza!

Fri, 03/07/2014 - 11:34 | 4521217 Kreditanstalt
Kreditanstalt's picture

This 55+ number is also due to never-laid-off well-paid workers keeping their jobs and growing older.  They are the new rich.

Fri, 03/07/2014 - 12:45 | 4521531 bob_stl
bob_stl's picture

It's because people 65+ can't afford to retire anymore. I bet 55 to 65 hasn't changed much.

Fri, 03/07/2014 - 13:38 | 4521775 Kreditanstalt
Kreditanstalt's picture

That's only the MYTH.   But in reality the older ones are either Walmart greeters or highly-overpaid technical/skilled trades...none of whom are in any danger of losing those jobs.

Fri, 03/07/2014 - 11:37 | 4521224 Spastica Rex
Spastica Rex's picture

I feel really old, but I'm in the group that really can't fimd da job.

Fri, 03/07/2014 - 11:37 | 4521226 therover
therover's picture

OLD BITCHEZ

Fri, 03/07/2014 - 11:49 | 4521255 Emergency Ward
Emergency Ward's picture

I don't have a job anymore but I have a t-shirt that says "Old Guys Rule".  My spouse found it for fifty cents at a yard sale.

Fri, 03/07/2014 - 11:38 | 4521230 Cognitive Dissonance
Cognitive Dissonance's picture

Imagine what those numbers would look like if student loan debt wasn't going through the ceiling and those kids were on the street looking for jobs instead of pursuing a higher education indoctrination.

Fri, 03/07/2014 - 11:55 | 4521301 boogerbently
boogerbently's picture

We gotta keep working to pay off our kids student debt.

Fri, 03/07/2014 - 12:00 | 4521321 therover
therover's picture

Shoot....don't get me started. +1

Fri, 03/07/2014 - 11:40 | 4521232 nightshiftsucks
nightshiftsucks's picture

Well at least the young peoples parents are working,they can keep living in the basement.

Fri, 03/07/2014 - 11:38 | 4521233 starman
starman's picture

Could this translate to my daughters school raising 50% less this years jogathon?!

Fri, 03/07/2014 - 11:39 | 4521234 Termin8or
Termin8or's picture

this should end well.

Fri, 03/07/2014 - 11:39 | 4521236 Atomizer
Atomizer's picture

Talent Pool vs. Social Networking Typing Skills.

Fri, 03/07/2014 - 11:43 | 4521257 insanelysane
insanelysane's picture

Exactly!  Besides having no useful skills or experience, they also lack any kind of work ethic or willingness to learn.  Look at all the A's and trophies they got for showing up some of the time.

Fri, 03/07/2014 - 11:49 | 4521279 Atomizer
Atomizer's picture

The new mathlish bubble creator’s

Common Core Standards Math Lesson Example

Fri, 03/07/2014 - 11:59 | 4521314 boogerbently
boogerbently's picture

I didn't know Queen Latifah taught school !

Fri, 03/07/2014 - 14:34 | 4522053 kchrisc
kchrisc's picture

Is it wrong to notice the "teacher" is black and laugh?!

Fri, 03/07/2014 - 11:51 | 4521286 Winston Churchill
Winston Churchill's picture

Just started a 23year old on Tuesday,

He decided to take today off to take a friend to the airport.

Obviously a keeper, in his own mind.

Fri, 03/07/2014 - 12:31 | 4521483 insanelysane
insanelysane's picture

Bad enough to be taking any time off with only 3 days on the job but from what you wrote, he need the whole day off to do this airport run and a Friday no less.  I'm betting the kid comes in late on Monday.

Fri, 03/07/2014 - 13:02 | 4521615 Winston Churchill
Winston Churchill's picture

I won't take that bet.

Tardiness drives me so crazy I would rather show up an hour early, than a minute late.

Must be getting old.

Trying to explain the snowball effect to my employees, is like teaching my cat calculus.

Fri, 03/07/2014 - 13:45 | 4521801 Kayman
Kayman's picture

Winston Churchill

I was at a supplier's business a few years ago when one of his employees cavalierly wrecked a $100 tool. The kid says, "what's the big deal-it's only a 100 bucks."  My supplier says, "no you moron, that's a thousand bucks, because now I have to sell another $1000 of product to net $100 to replace the tool. "

Fri, 03/07/2014 - 13:39 | 4521781 Kayman
Kayman's picture

Or the guy that keeps showing up at my place stoned to the gonads and tells me he works harder and more safely when he's stoned.  I don't know why any of his previous employers couldn't recognize him as a keeper.

Fri, 03/07/2014 - 11:40 | 4521237 Dr. Engali
Dr. Engali's picture

But the BernakinYellen created 3 trillion dollars in new "wealth" last quater. What's it take for them to retire and live the good life walking the beaches and popping little blue pills like the commercials?

Fri, 03/07/2014 - 12:08 | 4521367 Cognitive Dissonance
Cognitive Dissonance's picture

What little blue pills? I don't have any blue pills.

<Psst...where can I get some of them thar little blue pills?>  :-)

Fri, 03/07/2014 - 13:46 | 4521805 Kayman
Kayman's picture

CD

Ask Mrs. Cog's boyfriend...

Fri, 03/07/2014 - 11:45 | 4521256 skwid vacuous
skwid vacuous's picture

Why can't they just become metro-sexuals, get a job in Silicon Valley or West Village/Tribeca and start every sentence with "So, ..."

Fri, 03/07/2014 - 11:55 | 4521300 Eastwood
Eastwood's picture

so I'm not just nuts that I hear that same $%^& "so" from those pipsqueaks too?

Fri, 03/07/2014 - 12:01 | 4521333 therover
therover's picture

And end the sentence with 'like'

Fri, 03/07/2014 - 15:52 | 4522459 Senseless Urina...
Senseless Urinal Cake's picture

. . . and use the word "actually" a dozen times in one sentence.

Fri, 03/07/2014 - 11:44 | 4521262 laomei
laomei's picture

This data gets more hilarious once you break down into the 5-year cohorts and can demonstrate that despite the MSM propaganda that boomers are just getting older and still working, it's simply just not the case at all.

Also worth going back to pre-2001 for typical labor force participation numbers, you can see that the 2001-crash never had a full recovery and that since 2007 it's just been in freefall.

Early years should be building experience to exploit during prime years and advance into senior years either for retirement or top positions.  This is the way it's been forever.  When you strip the youth of their entry-level jobs, you destroy their prime-year earnings potential.  Assuming there's actually some sort of recovery, be it economic or the olds finally dying, the generation that finally gets the entry-level jobs to build off of will surpass the youth of today more or less instantly.  It's a recipie for a "lost generation" crisis down the road.

Fri, 03/07/2014 - 13:51 | 4521826 Kayman
Kayman's picture

And I'll bet my old pick-me-up truck that the 55 year olds still working are almost exclusively in the private sector. 

Fri, 03/07/2014 - 15:14 | 4522252 Bear
Bear's picture

No ... Bunches and bunches of old liberal broads infest .gov at all levels

Fri, 03/07/2014 - 11:45 | 4521268 q99x2
q99x2's picture

Fuck College. Just get old.

Actually I think my college offers courses in that.

Fri, 03/07/2014 - 11:49 | 4521281 insanelysane
insanelysane's picture

Hopefully you have a leg up on the younger generations.  I just realized the other day that my middle school aged nephews can't read the time on a clock.  Sister in-law says well everything is digital now.  Awesome because learning how to tell time on a clock is pretty close to rocket science.  Set the bar as low as possible.

Fri, 03/07/2014 - 11:55 | 4521302 homiegot
homiegot's picture

That's why older workers are preferred. They can tell time on a clock.

Fri, 03/07/2014 - 12:04 | 4521342 therover
therover's picture

And they can make change without a digtal read out calculating it for them.  Also, they (we since I am in that category) can figure out percentages too ! Now if I can only learn how to juggle !

Fri, 03/07/2014 - 11:54 | 4521297 QQQBall
QQQBall's picture

I tghink that is a special 6-year Master's Program at Univ of Phoenix

Fri, 03/07/2014 - 11:46 | 4521276 I Write Code
I Write Code's picture

older workers have the same wage leverage as younger ones: none.

Too f'ing true.  And that's even OK for the most part with the really oldest workers, 65+, who are just cruising to make ends meet not trying to save forward or raise kids or buy a Ferrari.

And you have to figure it is the *trend*.  Since the age for social security is rising now, and people are living much longer, and really a lot more people in their 50s and 60s and even 70s are in good physical shape now, a huge change from say fifty years ago, and so many jobs are just clerical anyway don't involve any heavy lifting, check back in twenty years and things are going to be MUCH worse.

Of course the real problem is the labor market.  Younger workers want and deserve real job and real wages, and those are exactly what NOBODY is getting.

But don't worry all you yutes and young'ns, what money I get as an old fart will trickle down to you when I order fries with that, and your McJob will show up as happy happy on the government employment stats.

Fri, 03/07/2014 - 11:48 | 4521278 Shizzmoney
Shizzmoney's picture

One would think this is a result of pols catering to the people that vote for them (40 and older), but it is more of a reflection that older workers cannot retire as easily as they used to because of boomerang children living with parents/relatives (and in most cases, these kids are employed too!) as well as them needing more cash to pay for debt on medical services as well as to their retirement funds.

I worked at a job where we have 2 people over the age of 73 still working.  Granted, some people just don't want to quit working and will do so til the day they die, but one was a great grandmother where she had *2* kids (with families) who lived with her and couldn't get jobs.

Economy still in the shitter, man.

Fri, 03/07/2014 - 11:49 | 4521280 papaswamp
papaswamp's picture

Doesn't have the new data on it...but you get the idea....
http://research.stlouisfed.org/fredgraph.png?g=sOf

Fri, 03/07/2014 - 11:51 | 4521285 rosiescenario
rosiescenario's picture

Just a snapshot of one segment....in SV we've seen many of the big companies lobby D.C. for relaxed immigration so they can bring in engineers from India, China, etc. thereby reducing their costs.

 

I imagine this immigration issue also hits other industries and is one of the prime reasons young citizens are having trouble finding jobs.

Fri, 03/07/2014 - 11:54 | 4521298 maskone909
maskone909's picture

I have much respect for my elders, but its true, these younger generations just seem way to metro sexual. To bad there wasnt more that brings us together.

Fri, 03/07/2014 - 11:58 | 4521306 maskone909
maskone909's picture

I have also seen these older generations bust there ass and get exploited by tbtf's. Younger guys prob just *dont trust anything

Fri, 03/07/2014 - 12:03 | 4521299 rustymason
rustymason's picture

This situation exists because most young people are dumb as dirt, lazy, barbaric in poise and manners, and have a huge sense of entitlement. Did someone mention that the SAT scores are being dumbed down again? 

Fri, 03/07/2014 - 12:08 | 4521365 therover
therover's picture

Fuck the SAT scores. They were 'smarted up' years ago, so now they are 'dumbed back down'.  They don't mean squat in the real world.

Most kids, when asked what their SAT score is, use the George Costanza from Seinfeld fame answer....'It varies'

Fri, 03/07/2014 - 12:36 | 4521507 insanelysane
insanelysane's picture

I asked one of my kids' English teacher a few years ago why they don't work more on spelling.  She said it isn't necessary because everything has spell check.  We worked on spelling at home because when you get asked to go up to the fucking white board in a meeting room at a for profit company, you might want to spell correctly.

Fri, 03/07/2014 - 14:30 | 4522028 plane jain
plane jain's picture

Ha...but not word check....there/their, pier/peer, effect/affect, hear/here, etc.

Fri, 03/07/2014 - 20:45 | 4523568 StychoKiller
StychoKiller's picture

Cain't teech wot ya dont no!

Fri, 03/07/2014 - 13:34 | 4521749 Surging Chaos
Surging Chaos's picture

Just remember, the younger generations are paying for all the Social Security, Medicare, and other Ponzi retirement plans. The same Ponzis that the older generations get to use to plunder younger generations (and generations that haven't even been born) with.

Who's really the entitled ones again?

Fri, 03/07/2014 - 14:13 | 4521919 monad
monad's picture

The IRS/IMF/UN criminals who steal all that money? Don't look now but they're moving to kill off the old people before they become eligible for nursing home abuse, medical malpractice & overbilling. Lots of cancer.

Fri, 03/07/2014 - 14:56 | 4522164 Surging Chaos
Surging Chaos's picture

They're going to kill the young people too. Who do you think goes to fight the wars once the SHTF? ;)

Fri, 03/07/2014 - 16:47 | 4522736 DosZap
DosZap's picture

Just remember, the younger generations are paying for all the Social Security, Medicare, and other Ponzi retirement plans. The same Ponzis that the older generations get to use to plunder younger generations (and generations that haven't even been born) with.

Who's really the entitled ones again?

 

How can that be IF the younger ones are not working?.Plus the OLDERones getting te SS?MC already paid for it over a lietime,you need to at leat be fair.Entitled?, hell yes, they PAID IT in to theirt Elders just the same as today.

Fri, 03/07/2014 - 11:58 | 4521312 redd_green
redd_green's picture

The only thing you need to keep in mind here:   any data from the Bureau of Labor Statistics is not worth the paper its printed on. 

Fri, 03/07/2014 - 12:03 | 4521328 MFLTucson
MFLTucson's picture

This is being touted as a wonderful jobs report? I've never seen anything so fucking bizarre in my life. This is a joke of a report this is a joke of a recovery what the hell are we doing? The future of a country is not in the old people it is in the youth it is in economies that are growing producing things not selling Chinese made goods or having the old people as greeters for Walmart.

Fri, 03/07/2014 - 12:07 | 4521359 ian807
ian807's picture

Shrug. Here's the deal. I can hire a guy with 35 years of experience, requires no training, has no tatoos so he can meet with customers, speaks standard English, and shows up for work at 8:30 am every morning without fail, OR I can hire a tatted kid, who wants, no, DEMANDS, "flexible" "working" hours, and has his head up his phone.

It's not even about the money. I'll pay more for someone who can GET THINGS DONE in a timely manner and in front of customers and co-workers.

Fri, 03/07/2014 - 12:11 | 4521383 Seasmoke
Seasmoke's picture

The old folks fucked the young folks. And they have no intention on stopping now.. I see in the public sector when an a overpaid ticket writer retires and gets rehired as the BA or some other PUBLIC taking job, blocking a job for a younger person....but get this, the retired cop, says to taxpayers I'M SAVING YOU FROM PAYING FOR HEALTH INSURANCE THAT SOMEONE YOUNGER WOULD BE GETTING !!!! 

 

My Crystal ball, keeps showing WAR, a generation War. 

Fri, 03/07/2014 - 12:10 | 4521385 Ban KKiller
Ban KKiller's picture

"Older" workers...on time, can read and write, know math, more honest, reliable, steady and on and on. Young folks? Distracted, no writing skills, no reading skills, no practical knowledge, late. 

Horrible generalization but close to true for all. 

WPA needed now! Put the youngsters to work on public WORK projects that require little skill and just hard work.  Cruel! Oh my!

Fri, 03/07/2014 - 12:59 | 4521389 Kreditanstalt
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Well, around here where I live, there is a Steelworkers' Union hall.  Mostly are involved in logging truck maintenance and truck driving & driving forklift when a ship is in.   Government protected: NEVER worry for their jobs and highly-paid, face no labour competition for those jobs, either... They are almost all older than 50 and the parking lot is FILLED with late-model Ford F150 and F350, Dodge Ram, etc. pickup trucks and SUVs. 

I'll do their grunt jobs for $15/hour.  Will I even be allowed to offer?  These guys are the REAL banksters, hogging all the jobs and salary...

Fri, 03/07/2014 - 16:11 | 4522550 Kayman
Kayman's picture

 Kreditanstalt

"Steelworkers' Union"  After the I Walk Alone union's pension fund went bust they had to merge with the Steelworkers.  Fools- they should have merged with a government union where revenues are compelled out of the taxpayer. This is, until there are no feathers left on the goose.

I can't believe you cannot find a job above $15/ hour.

Fri, 03/07/2014 - 12:11 | 4521392 FishHockers
FishHockers's picture

I'm 65 underqualified for everything. My biggest worry is who is going to win the !st at Gulfstream today. Happily underqualified.

Fri, 03/07/2014 - 12:23 | 4521427 Seasmoke
Seasmoke's picture

WTF !!!!!! Guess, he better win now. 

Fri, 03/07/2014 - 12:19 | 4521430 Seasmoke
Seasmoke's picture

The #2 looks good with Paco Lopez. 

Fri, 03/07/2014 - 12:19 | 4521431 Seasmoke
Seasmoke's picture

The #2 looks good with Paco Lopez. 

Fri, 03/07/2014 - 15:05 | 4522216 Bear
Bear's picture

You're behind the times #2 won the first race ... Yesterday

Fri, 03/07/2014 - 12:23 | 4521436 Smegley Wanxalot
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I managed a subsidiary in Germany, where it was in vogue (and legal) to willfully discriminate and not hire people over about 40 to 45.  This is what I learned:

1) Young hires show up late and hung over, and call in sick a ton.

2) Older hires showed up on time, worked late when necessary, and didnt spend half the morning bragging about getting drunk or laid the night before.

So fuck the youth hires - they may be nicer to look at but I left those for the other groups, hired people in the 40s or above who know how to get shit done, and had the most successful org there.

Fri, 03/07/2014 - 12:25 | 4521456 ZeroPoint
ZeroPoint's picture

The value of labor is contuning to decline. Employers want people who are highly experienced, do not waste time, and give them the most value. Young people could become people like this, but no one wants to bear that maturation time.

 

Fri, 03/07/2014 - 13:32 | 4521744 I Write Code
I Write Code's picture

The value of labor is contuning to decline.

Oversupply, given automation and outsourcing.

Fri, 03/07/2014 - 12:27 | 4521467 NOTaREALmerican
NOTaREALmerican's picture

Bah, who cares about the trash class.   How is the Elysium Class and the Elysium Support Class doing?   

Let's stick to the people that matter, shall we?

Fri, 03/07/2014 - 13:01 | 4521609 curbyourrisk
curbyourrisk's picture

Read "The Fourth Turning"

 

It is not a class war we face, it is a generational battle that is coming.  The Baby Boomers have promised themselves the world.  You think we are going to sit here and let them take from us???

 

HELL NO!!!!  If it's a war they want....   GIVE IT TO THEM!

Fri, 03/07/2014 - 14:23 | 4521987 ian807
ian807's picture

The fact that you think this is a generational issue just means you're stupid enough to believe the mainstream media. The transnational, transgenerational wealthy have stolen from all of us who are not them, and it's in their self interest to have the 99% fight each other, not them.

The real enemy are these wealthy, and great wealth in general. Wealth = political power, which effectively disables effective democracy.

Fri, 03/07/2014 - 13:29 | 4521728 stiler
stiler's picture

I tell ya, I love being over the hill, so to speak. Not that it's an easy downhill slope now, but I've gone through so much crap and I know pretty much what could be served up.

Fri, 03/07/2014 - 13:40 | 4521769 monad
monad's picture

Old people still do most of the charity. Basement babies do most to support Mexican drug lord. if you want to get the most bang for your buck and do the most good, who would you hire?

Obvious these bullshit numbers are the prelude to moar State sanctioned discrimination against older workers, to burn US down faster. just like the current State sanctioned discrimination against hiring older government workers.

Inefficiency

   Inside

Fri, 03/07/2014 - 13:47 | 4521770 comob
comob's picture

I was just speaking to my brother about this!

For the record I am 50 with 3 teenagers and he is 40 with 3 under 10's

I told him that I think the only viable reset for America is to kill everyone over 50 (me included) - think about it that would immediately solve the unemployment and medicare and social security problems.

Our country would be a younger more vigorous and more hopeful nation with the chance to solve tractable problems instead a gerontocracy scheming to create "mafia" type cartels that squander wealth on themselves - future generations be damned and interminiably indebted!

And please spare me your talk of leadership issues or work ethic and the young - they've been given NO opportunity whatsoever for either - our colleges and the debt that goes with them are just vast holding tanks for the un and under-employed.

He balked saying jeez that only gives me 10 years - can't we at least make it 60?  I said that I thought I was being generous by adding 20 years to the 30 year deadline in Logan's Run to which my younger brother responded "Logan's what"?

I make this proposal because I am terrified for my kids and the paucity of opportunity they face.  In terms of generational sympathy I also recognize from my peers that the majority of the 55+ set are not getting prestige / high dollar jobs - in fact they are poaching (because their lives depend on it) the part time and service gigs that formerly went to students and teens...

 

Fri, 03/07/2014 - 15:01 | 4522195 Bear
Bear's picture

Problem is ... your brother and his generation would end up just liker the boomers ... it's the nature of man. Killing off the elders would set a real bad precedence.

Fri, 03/07/2014 - 13:44 | 4521796 monad
monad's picture

Factor in the unbelievable claimed increase in population for the last 15-20 years. The unborn.

Fri, 03/07/2014 - 13:58 | 4521859 venturen
venturen's picture

That is what you get for voting for Obama...they deserve it. Of course the 55 and older....are taking any job so they don't have to eat dog food.

Fri, 03/07/2014 - 14:58 | 4522172 Bear
Bear's picture

This demographic is Obamaphobic so I don't believe they contributed to his victory.

Fri, 03/07/2014 - 14:00 | 4521867 A Cruel Accountant
A Cruel Accountant's picture

The only hope for millenials is to buy an 8 person tent, live in it in your parents back yard renting the tent 7 other people. Charge 50 cents to use the bathroom in your parents house. And work 3 parttime jobs at or below(if working for cash) min wage.

Fri, 03/07/2014 - 14:10 | 4521916 A Cruel Accountant
A Cruel Accountant's picture

PS This only works if you have skipped college and do not have any student debt. Student debt = debt slavery to the state.

Fri, 03/07/2014 - 14:22 | 4521980 moneybots
moneybots's picture

That's news to me.

Fri, 03/07/2014 - 15:29 | 4522307 Jesse
Jesse's picture

 

This is not the most shallow and misleading analysis of employment and economic data I have ever seen, but it is right up there.

1. Older employees tend not to be mobile, and in a tough economy tend to hold on to what they have.  Especially in an economy where retirement may not be a viable option.

2.  The steady increase in jobs for older people which this longer term chart shows indicates an aging worker population as much as anything else.  If there are NO jobs increases, the number of jobs held by people over 55 will keep growing larger if people are working longer before retiring.

3.  Last hired first fired, when it comes to layoffs.

4. It shows nothing about wages and quality of the jobs.   It shows nothing about a hiring bias to older people with more health problems etc.  The problems of getting a job when you lose yours and are over 55 are legendary. 

Yes a tough economy is hard on new job entrants, and there are ways to address this.  But this 'study' is highly misleading.

I do think that there are some constructive things one can say about the data, but not many of them appear in this item on ZH, and I think we can expect a little better.

 

 

Fri, 03/07/2014 - 16:08 | 4522531 Flying Wombat
Flying Wombat's picture

Dave Kranzler on today's gold trade, employment numbers, Ukraine and more:  

"The U.S. Government Is One Big Lie"

http://thenewsdoctors.com/?p=122129

Sat, 03/08/2014 - 01:17 | 4524299 headless blogger
headless blogger's picture

I guess you can look at it in a positive way: You don't have to work until you're 55!! Just sit back, enjoy your life, and let the old people support ya!

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