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US Workers In The Prime 25-54 Age Group Are Still 2.6 Million Short Of Recovering Post-Crisis Job Losses

Tyler Durden's picture




 

Pundits may be trying to spin this Friday's jobs report as indicative of an ongoing recovery, emphasizing that as of May, all the jobs that were lost since December 2007 have now been recovered, or this chart...

 

However the same pundits fail to mention is that while it took the Fed some $2.7 trillion in incremental liquidity to regain all the lost jobs (and concurrently push the S&P to absolutely ridiculous record numbers), at the same time the US population, which grew by 14.8 million since December 2007, has lost a record 12.8 million people form the labor force, which remains at an all time high 92 million!

 

Further digging into the data, here are two other things you won't hear from the permabulls: while the May job gain of 217K was respectable, breaking down the jobs by age group as shown by the household survey, shows that not only did the majority of the jobs go to the lowest paying wages for yet another month, but for Americans in their prime working years, those aged 25-54, May was a month in which some 110K workers either lost their jobs, or were moved into the oldest, 55-69 age group.

Furthermore, while the total number of jobs may have recovered its post December 2007 losses, for Americans aged 25-54, there is still a long, long time to go, with the prime US age group still over 2.6 million jobs short of recovering all of its post December-2007 losses.

Finally, continuing the qulitative breakdown of the jobs breakdown in the US, one group that has gotten the decidedly short end of the stick are stay at home dads, which according to a recent Pew research study have increased by a whopping 100% to 2 million from the 1.1 milion in 1989:

The number of fathers who do not work outside the home has risen markedly in recent years, up to 2 million in 2012. High unemployment rates around the time of the Great Recession contributed to the recent increases, but the biggest contributor to long-term growth in these “stay-at-home fathers” is the rising number of fathers who are at home primarily to care for their family.

Visually:

Bloomberg has more:

The number of fathers at home with their children reached a high of 2.2 million in 2010 in the wake of the recession, which ended in June 2009. While the figure fell to 2 million in 2012 as unemployment declined, it was still almost double the 1.1 million stay-at-home dads in 1989, according to the report.

 

Fathers account for a growing share of stay-at-home parents in the U.S., with almost a quarter of the men reporting they’re at home because they can’t find a job. Dads represented 16 percent of all parents not working outside the home in 2012, up from 10 percent in 1989, a report released today by the Pew Research Center in Washington shows. There are more than five times as many stay-at-home mothers.

 

“The share of dads specifically there to care for those at home has been growing steadily across time,” said Gretchen Livingston, the report’s lead author. “We still see a steady increase in this number.”

 

The report follows a study Pew released two months ago that showed American mothers are reversing a historical trend and increasingly staying home, a change driven by demographic, social and economic forces. The increase in stay-at-home fathers is also related to economic forces, this study found.

Don't blame it on the economy... blame it on disabilities.

As is the case among mothers, stay-at-home fathers are less well-off financially and have lower educational attainment than their working counterparts, the report said. At-home fathers are twice as likely to lack a high school diploma as working fathers -- 22 percent to 10 percent -- and almost half are living in poverty compared with 8 percent who work outside the home.

 

The largest share of stay-at-home fathers -- 35 percent -- say they are there because of their own illness or disability, the report said. This contrasts with stay-at-home mothers, just 11 percent of whom cited those reasons.

 

And while the overall average age of working-age Americans continues to rise ever higher (with the 25-54 age group consistently depressed), one subset of Americans that is leaving the workforce are the same disenfrachised fathers, caring for their children:

Stay-at-home dads also tend to be older than such mothers, which may partially explain why so many more are ill or disabled. While 43 percent of stay-at-home fathers are 45 years or older, only 21 percent of stay-at-home mothers are in that age group.

 

About one in five stay-at-home fathers say the main reason they are there is to care for their home or family, representing a fourfold increase from 1989 when only 5 percent of them said that. Among mothers, the number is 73 percent.

It gets worse:

Stay-at-home dads get less respect, the study found. About half of Americans said children are better off if their mother is home and doesn’t hold a job, compared with just 8 percent who said that about fathers, according to a 2013 Pew survey. That finding shows Americans “still very much differentiate between a stay-at-home mom and a stay-at-home dad in terms of the value to children,” Livingston said.

Well, reverse feminism may not be particularly strong in the US, and neither is the so-called recovery. But at least demand for propaganda spin masters has never been greater, regardless of age or domestic father status.

 

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Sat, 06/07/2014 - 20:06 | 4833381 Silver Bug
Silver Bug's picture

That's because we are still in an economic crisis. Ask the everyday man on the street. Inflation is raging, money printing is rampant and unemployment remains stubborn. Only a blind politician would think this is an "economic recovery". Protect yourself from this farce, keep buying gold and silver.

Keep Stacking.

Sat, 06/07/2014 - 20:23 | 4833402 Caveman93
Caveman93's picture

Holy shit! Is that a link to real money?

Sat, 06/07/2014 - 20:44 | 4833437 bunzbunzbunz
bunzbunzbunz's picture

It's a referral link to make some USD. Just another shill for another middle man for another product.

Sat, 06/07/2014 - 21:06 | 4833471 Boris Alatovkrap
Boris Alatovkrap's picture

Crisis? What is Crisis!?

Sat, 06/07/2014 - 21:18 | 4833489 nmewn
nmewn's picture

Thank goodness I'll be 55 this year and the crisis will have passed ;-)

Sun, 06/08/2014 - 13:14 | 4834409 Jumbotron
Jumbotron's picture

I turned 50 this year.  Thank goodness I'll be dead soon.

Sat, 06/07/2014 - 20:18 | 4833396 yellowsub
yellowsub's picture

Realistically, if MSM is publishing doom and gloom do you think the ignorants of reality will continue to spend beyond their means?  I mean it might stop a few since many know the gov't will bail them out.  I mean check out the MSM sites publishing ways to buy a house these days with little down.

Sun, 06/08/2014 - 11:40 | 4834205 newworldorder
newworldorder's picture

On the job front there are 2 kinds of people/groups.

1. Their luck has held, (right skills, right colleges, right industry, lots of contacts, minority status, do government work, etc.)

2. All the others that are not in the above categories. They have experienced all or most of the recent economic downturns.

Unfortunately for both groups - unless you have experienced any of the economic downturns, you have no appreciation for the economic reality that is today's America. You can be given volumes of facts, statistics, charts and analysis but nothing will break the smug reality of ones "individual success."

Sun, 06/08/2014 - 18:39 | 4835136 I need Another Beer
I need Another Beer's picture

U r so right !! I am in the 50 older group and I know something stinks. I intend to be an illegal alien in the future. The counties surrounding DC are my targets. It will be a wasteland . Matches and fuel

Sun, 06/08/2014 - 00:34 | 4833399 Caveman93
Caveman93's picture

Wished my Father stayed at home versus him having to go off to some flight-line somewhere to bomb Asian people. Very nice man and well centered. That would have been much better for me. I instead ended up with a raging alcoholic Mother who was screwed over by the OSI who tried to have her assassinated 2 times. Yeah, apparently these Pew pricks want to tell us it's always better to have Mother home. Fuck off they don't know shit!

Sat, 06/07/2014 - 20:27 | 4833407 Shizzmoney
Shizzmoney's picture

I also bet most are making their money under the table, skering the results a bit. 

There's a reason, as David Cross says, that young men deal drugs over working a minimum wage job: MATH.

This is a recovery for the connected.  And most of us, aren't in the big fuckin' club.

Sat, 06/07/2014 - 20:30 | 4833410 TeamDepends
TeamDepends's picture

Okay, we are afraid to look.  What is up with the Penn Vagina (PVA) Judge Rules In Favour Of Environmental Groups story on RanSquawk?

Sat, 06/07/2014 - 20:31 | 4833413 PeeramidIdeologies
PeeramidIdeologies's picture

Why are there no jobs? Because the fed? The Chinese? Illegal immigrants? Nope. There are less jobs now, and will be even less jobs later because the business model of the old west is dead, sustained with the life support of debt. The time for grievance has passed. Out with the old, in with the new.

Lets do it.

Sat, 06/07/2014 - 20:47 | 4833441 bunzbunzbunz
bunzbunzbunz's picture

We still have a lot of ocean to exploit. Could be more of the same.

Sat, 06/07/2014 - 21:18 | 4833490 PeeramidIdeologies
PeeramidIdeologies's picture

I was watching a documentary about that the other night, very interesting stuff. I've spent some time in and around the ocean, and have a great deal of respect for the power of that natural system. It would be a shame to see it stripped mined in the same respect as we have seen in the past. Harmonious I think is the term :)

Sat, 06/07/2014 - 21:01 | 4833461 WMM II
WMM II's picture

"There are less jobs now, and will be even less jobs late"

'fewer' not 'less'.

eye-zza only points that out on accountta its a self-referential explantion of why fewer people in tha age group work.

 

 

:)

 

Sat, 06/07/2014 - 21:25 | 4833501 PeeramidIdeologies
PeeramidIdeologies's picture

Lol I appreciate the heads up. I get a little haste at times, and school was never my thing. Neither has unemployment mind you ;)

Sat, 06/07/2014 - 20:47 | 4833443 Postal
Postal's picture

I'd gladly hire a 25+ year old female to dress in a cute, sexy maid outfit and clean my apartment. Howerever, that's sexist, degrading, misogynist, and politically incorrent. Not to mention the Obamacare, EEO complaints, sexual harrassment charges, and other issues. Porn and a dirty apartment are preferable. :/

Sat, 06/07/2014 - 20:48 | 4833444 WMM II
WMM II's picture

"US Workers In The Prime 25-54 Age Group Are Still 2.6 Million Short Of Recovering Post-Crisis Job Losses"

 

there are always dark linings to every silver cloud here at zh.

 

 

:)

 

Sat, 06/07/2014 - 20:48 | 4833445 Colonel Klink
Colonel Klink's picture

It's plain to see then it's the 55+ crowd who have needed to return back to work because their interest income has been destroyed by the Federal Reserve.  I've been waiting for the day when some of these older folks who can no longer afford to survive decide to go on suicide missions to repay those who have caused their downfall since they have little else to live for.

Sat, 06/07/2014 - 21:21 | 4833495 nmewn
nmewn's picture

#PreGeriatricMartyrdom ;-)

Sat, 06/07/2014 - 20:56 | 4833457 foxmuldar
foxmuldar's picture

So  what this all means is that we haven't grown one single job in the past 6 years. WTF

Sun, 06/08/2014 - 08:19 | 4833953 what's that smell
what's that smell's picture

the baby boomers refuse to retire because they can't.

by rights, they should move the fook over and get the fook outta the way....but:

zirp, lifestyles built on cheap credit, squandering the wealth of a great industrial powerhouse on the altar of narcissism, refusal to acknowledge old age and death, exceptionalism and ayn rand phantasies....

a scourge that will be with us till their bitter end.

 

Sun, 06/08/2014 - 12:12 | 4834275 fiatmasochist
fiatmasochist's picture

Uparrow from me, a BB...what can I say? ...my bad.....

   thought I was going to retire...something happened to my finances, now I can't...

     in the vernacular, "keep on truckin' "   ( and stackin' as the IRA's are gamed)

.................'nothing is lost'

Sat, 06/07/2014 - 21:30 | 4833507 foxmuldar
foxmuldar's picture

Peter Schiff commenting on this weeks jobs number. Retirees forced back to work while the Young remain jobless.  http://foxmuldar-conservative-thinker.blogspot.com/2014/06/retirees-forc...

Sun, 06/08/2014 - 11:27 | 4834180 newworldorder
newworldorder's picture

Wait until the 10 to 15 million illegals are granted amnesty or Immigration Green Cards authorizing employment. Also look to changes to the H1B Visa rules to increase this quota to several hundred thousands per year. This will kill more Tech Jobs for US citizen graduates.

The political and financial interests in the US have made a decision to embrace globalism and to NOT protect American Jobs. Our country now functions on the concept of world wide perpetual motion, rather than the will of the American people.

Very few sitting politicians today, would have it any other way.

Sun, 06/08/2014 - 11:57 | 4834252 moneybots
moneybots's picture

"The political and financial interests in the US have made a decision to embrace globalism and to NOT protect American Jobs. Our country now functions on the concept of world wide perpetual motion, rather than the will of the American people.

Very few sitting politicians today, would have it any other way."

 

Very few American voters would have it any other way.  The same people keep getting elected to office over and over and over and over and over and over and over.

Sat, 06/07/2014 - 21:37 | 4833521 I Write Code
I Write Code's picture

I heard that job age population increased about eight million since 2008.

Sat, 06/07/2014 - 22:40 | 4833609 JMT
JMT's picture

The 'Blue Line' representing age 25-54 looks like its 'breaking out higher'.. If anything people age 22-35 are the most likely to get hired in most white collar positions with 'name' corporations.. They are seen as up to date with the latest technology, communication skills and have this 'positive social' atittude 'fun to be around', picture someone who looks like one of Mitt Romneys kids -- that is the ideal candidate for you average $90,000 a year 'knowledge skill' position with a name corporation

Sun, 06/08/2014 - 11:04 | 4834139 grid-b-gone
grid-b-gone's picture

There's an old Dilbert strip where a newhire as you describe with executive potential is being introduced around. The final frame's text is, "We think his hair is going to turn silver." 

What you describe is nothing new. For the Fortune 500, the tall, "Romneyesque" male from a good school tends to find a place in every economy. They will tend to exude a positive attitude and be 'fun' but they will also load their staff with Bill Gates types to do much of their heavy lifting. 

If you look like a Gates or Zuckerberg, or if you are doing the grunt work that one of these guys is presenting, you will probably be better off in a smaller company, or starting your own company.

Sun, 06/08/2014 - 01:23 | 4833776 Pike Bishop
Pike Bishop's picture

It's great They have already shifted the discussion, and everybody has chugged the memory retardant.

We know what kind of jobs filled a large majority of this heralded comeback.

Part-time mostly, with a heaping helping of under-employment. 

Utilization has been fucked for years, and the job force is the same as 1978.

Add in clear signs regarding a Middle Class.

For all of its troubles, the Mothers of Brazil have taken to the streets in 10s of thousands, demanding more schools and teachers, rather than having the oligarches piss money away on the World Cup and Olympics.

Meanwhile, the US and State governments are happily firing teachers, closing schools, and cutting funding... while they move the funding to indenture-loans

One  country is fighting tooth and nail to build a Middle Class,.. and  the other one is clearly destroying another crucial means of the Middle Class.

Historically, one is moving upwards, and one is heading down.

It's OK. The Middle Class is already gone. Nobody wants to say it outloud If you are in the Middle Class and scared shitless over your Household jobs, you're not really in the Middle Class. Part of the definition of the Middle Class was its incredible stability based on a reasonable sense of security for a decent day's work.

The few who remain Middle Class keep checking the rug, while they wonder who is going to yank on it next.

That is a distorted and bizarre shadow of what the Middle Class used to be.

 

Sun, 06/08/2014 - 11:17 | 4834166 newworldorder
newworldorder's picture

Your "truth" speaks volumes, but few would understand it,  were you to be granted access to a larger readership than ZH.

We rail against the Corporatist 1% - but the economic and political game has already been played and lost in the US, Japan  and Western and EU countries. Nationalism was rejected in those countries in favor of multiculturalism. The US has solidified its role of funding the world through FED fiat, while the US Military provides protection for all large worldwide muntinationals.

The predominant reason for all this is that labor has become a worldwide commodity. If you cannot find it locally, you can easily lobby your government to allow its importation as easily as you would import any other commodity. That and daily movement, of trillions of fiat monetary wealth moved without losses around the world has created our current life.

Often - such complexity can be explained by simplicity, if one has the thinking ability to find it . Sadly most Americans have ceased to look for the answers that would have been readily apparent to former generations of American citizens.

 

Sun, 06/08/2014 - 16:45 | 4834837 TeethVillage88s
TeethVillage88s's picture

Silent Generation is put forth in a theory called The Forth Turning (I've been thinking on this). But "Silent Suffering" is an English Quality and a tradition weaved into WASP, Catholic, Mormon, and other religions (I Guess).

War on the Middle Class sticks out to me.

Congressional Propaganda & Presidential, GOP, NEO-CON, and Democrat Propaganda is strong. The whole Advertising Industry jumped techologically around WWI (from what I read). So that by WWII government propaganda for these wars was in full swing. Subliminal Advertising Investigations by Congress squash any question of limits to propaganda.

https://en.wikipedia.org/wiki/Propaganda_in_the_United_States
https://en.wikipedia.org/wiki/Smith-Mundt_Act

"...The shift from wartime to peacetime "propaganda" operations was not taken lightly by Congress, especially with fresh memories of President Woodrow Wilson’s Committee for Public Information (CPI), President Franklin D. Roosevelt’s Office of War Information (OWI), and the Nazi propaganda machine..."

"We are convinced that there is no subliminal advertising in America today" said Charles F. Adams speaking for the American Association of Advertising Agencies in 1981."

I know congress studied the issue and passed no laws on subliminal ads or messages. At least one congressman stood up and proclaimed the issue was looked at and no evidence was found to support legislation. But do you believe everything.

Anyway White House calls it Public Relations. Your tax dollars go to pay for both thousands of employees in Public Relations, and to Madison Avenue firms. Think Tanks.

Lies. Spin.

- There are Weapons of Mass Destruction in Iraq
- Warren Commission concluded there was no conspiracy
- 9-11 Commission concluded not much but 19 highjackers
- There was no Investigation of MLK Assassination
- We fought WWII with no advertising or influence
- There is no such thing as a False Flag Attack
- Project for New American Century did no call for a "pearl harbor type event"
- Wealthy People don't control the Media
- CIA never paid media
- There is always someone responsible at the top in Federal Government
- US military would never plan to attack it's own country
- Truth Reigns Free in the USA
- Freedom of Press is a fact in the USA
- Money has no Influence over Politics
- MIC is passive and has no lobby offices in DC
- Halliburton was only qualified contractor in no bid contract worth up to $7 billion, to put out oil well fires
- Federal employees don't raise their hand and pledge to defend the US Constitution (So they are not constitutionalists or terrorists)

https://en.wikipedia.org/wiki/Operation_Mockingbird
https://en.wikipedia.org/wiki/Project_for_a_New_American_Century
https://en.wikipedia.org/wiki/Operation_Northwoods
https://en.wikipedia.org/wiki/Dr._Strangelove

Sun, 06/08/2014 - 08:02 | 4833943 NOZZLE
NOZZLE's picture

Who cares about that shit, California Chrome comes up lame in the last leg of the Triple Crown will be studied by generations of financiers as the day the fake bull market came to an end.

Sun, 06/08/2014 - 09:22 | 4833991 grid-b-gone
grid-b-gone's picture

I'm sure the gap is greater than 2.6 million. In my case, 1 pre-2008 job has been replaced by 1 new P/T job, a spouse now working for the first time in 25 years, and a small side business.

From the government's perspective, that's a gain of 2 jobs, but from this family's viewpoint, we'll probably never get back to the 2008 economic level.

What gov stats don't see is that we're pretty happy with the forced change, so heuristics, as annoying as the concept is, has some validity. The stress of a high-paying corporate job is gone. The small business allows me to work on my terms. No boss assigns overnight work due the next morning as I walk out for the evening. I choose which clients to serve. The P/T job is pleasant. The wife's job represents proving herself (she beat out 2 seasoned workers and a few degree'd Millennials who texted too much) after getting ignored by most employers due to her very long employment gap. Life is pretty good, even though this family is not better off economically than we were in 2008.

Sun, 06/08/2014 - 11:13 | 4834162 CoastalCowboy
CoastalCowboy's picture

There's nothing like someone being middle aged and working multiple no benefit part-time jobs just to barely survive. Thank your own personal TOTUS for granting you such a glorious opportunity to serve your Banksters!!!

The economy's really fucking great too. Plus, they get to penalize you for not carrying fascist health insurance you cannot even hope to afford unless you either join the FSA or start making $90K a year.

Sun, 06/08/2014 - 11:56 | 4834249 grid-b-gone
grid-b-gone's picture

It is a little sad. I do miss my old USA, but we pretty much dumped the banksters for good. Total debt is 4% of net worth. If you cross your legs and clench your glutes (don't borrow), it's hard for them to get to you. We're mortgage-free, so property tax is the only long-term shelter threat.

True, that $1k/month for health insurance we barely used was oppressive, but the wife's promotion fixed that. 

My prospects are better than they have been for a long time. I used to work all year and get a raise that, after inflation and the annual health premium increase, barely budged take-home pay. The business' return on investment is as good as CD rates were when Carter left office. Almost at will, I can give myself a $100 raise by putting in a few extra hours at the business - an effort I choose not to do most weeks. 

I've traded some money for choice, freedom, and time. Your point is valid, but just does not fit my adaptation to the trauma we've seen as a country.

Sun, 06/08/2014 - 12:14 | 4834279 A Cruel Accountant
A Cruel Accountant's picture

Work if for old people who are willing to compete with robots with minimum wage.

Sun, 06/08/2014 - 12:23 | 4834296 The Merovingian
The Merovingian's picture

This basically shows that the summer hiring season has kicked off in earnest and that all those 'temporary job' gains for the 24 & under crowd will almost certainly reverse itself come August.  It also says the 55+ crowd is taking second jobs to keep the lights on and the alpo flowing .. Walmart greeters and the like.  Meanwhile the middle class just gets crushed further into oblivion.  FOARWARD!

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