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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Hippocratic Oaf's picture

The young are getting pi$$ed!

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

lordbyroniv's picture

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

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.

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.

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.

zaphod's picture

Going as planned

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

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...

weburke's picture

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

wallstreetaposteriori's picture

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


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.

S5936's picture

Sans selfies & texting every 5 minutes.

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.

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

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



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.

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.

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."

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.

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.


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)

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.

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.

ncdirtdigger's picture

I never got past the picture of her lungs.

Smegley Wanxalot's picture

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

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.

-.-'s picture


If you're soft, you're lost

To stay on course means to roll with Force

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.

TruthInSunshine's picture




"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

Smegley Wanxalot's picture



For the Herbalife model to work, I need to:

. . . . . 1) have guilt, and

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

so it aint gonna work with me.


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.

waterhorse's picture

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

skwid vacuous's picture

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

Winston Churchill's picture

Staples  and Radioshack need help boarding up stores.

TruthInSunshine's picture

Best Buy (they are going into smaller "mall" locations)
Ace Hardware
Hot Topic
Any # of Darden Group Restaurants

StychoKiller's picture

But, but SBarros makes great NY-style pizza!

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.

bob_stl's picture

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

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.

Spastica Rex's picture

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

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.

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.

boogerbently's picture

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

therover's picture

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

nightshiftsucks's picture

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

starman's picture

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

Termin8or's picture

this should end well.