"Hiring Grandparents Only": 230K September Jobs Added In 55-69 Age Group; 10K Lost In Prime, 25-54 Group

Tyler Durden's picture

The further one digs into today's "blockbuster" jobs report, the uglier it gets. Because it is not only the participation rate collapse, the slide in average earnings, but, topping it all off, we just learned that the future of the US workforce is bleak. In fact, with the age of the median employed male now in their mid-40's, the US workforce has never been older. Case in point: the September data confimed that the whopping surge in jobs... was thanks to your "grandparents" those in the 55-69 age group, which comprised the vast majority of the job additions in the month, at a whopping 230K.This was the biggest monthly jobs increase in the 55 and over age group since February!

What about the prime worker demographic, those aged 25-54 and whose work output is supposed to propel the US economy forward? They lost 10,000 jobs.

Of course, don't expect any of this to be mentioned on any financial entertainment outlets: it would spoil the party of today's "surging" jobs day.

 

Then again in retospect, it has never been a stronger labor market. Well, if you are 55 and over that is, the age group that just hit a record 32.6 million in jobs.

 

Some addition detail:

Here is the breakdown of job gains by all age groups since the start of the depression in December 2007: 5.5 million jobs "gained" in the 55-69 age group. What about the core, 25-54 demographic? Negative 2.04 million.

 

In fact, looked at differently, it continues to be a story of two labor forces - those aged 55 and older, and everyone else.

 

And finally, putting it all in context, here is the reason for the drop in the labor force participation rate. Apparently someone forgot to tell those 55 and older they are retiring in droves.

Source: BLS

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LawsofPhysics's picture

Exactly what one would expect when the true cost of capital and money is manipulated lower and fix- income markets are blown up.  Still, not one motherfucking "arsonist" in prison.

thunderchief's picture

Wall Mart greeters, and, and....

Senior Volunteers!!

Sheesh, you can't dream this shit up.

LawsofPhysics's picture

Not to mention the destruction of savers and savings...

That's good behavior, we don't reward such things in this country anymore.

Pooper Popper's picture

Oh Fucking great,,,Now my eye twitch is coming back...

 

max2205's picture

55'ers at 55% pay cut

What a drag it is getting older....

Divided States of America's picture

Nice...next time I go to HOOTERS, there will be no young waitresses, just SAGGERS

Badabing's picture

What flips my burger is that the banksters are responsible for grandma working at McDs because they stole from the savings of the retired and are spending money now That people not born yet will have to pay back!!! Fucking assholes!!!
What gives them the right!!!
The people responsible NEED to be dragged into the lime light and given a dose of Ebola and when they start blessing from the ass turned over to ISIS for beheading!!!!!!

PT's picture

How's that self-funded retiring through property capital gains thing going?

The Limerick King's picture

 

 

The jobs report data was "GREAT"

The market has taken the bait

But through the veneer

The data is clear

Our grannies are now washing plates!

 

GeezerGeek's picture

You think getting older is a drag? I do not recommend trying the alternative.

PT's picture

You'll never know if you don't give it a go!

:P

 

fockewulf190's picture

...which forces the old to take a part-time job...or any job for that matter...just to survive.  Just wait until the underfunded pension crisis comes up to bat.

LawsofPhysics's picture

For the vast majority of living creatures on the planet, if you don't work you don't eat.  In summary, the very concept of a pension is analogous to the idea of outlawing gravity.  Under certain conditions, you can in fact do that, but it requires a shitload of energy.

GeezerGeek's picture

I prefer to think of the concept of pensions as akin to the bears' habit of eating heartily in preparation for the winter hibernation. Producing more than one consumes allows saving for future consumption.

And BTW, I would be in favor of outlawing gravity, or at least mandating a lower value for 'G' (from the force of attraction between two masses). I've always wanted to be able to dunk a basketball. And then we can make pi = 3, and so on.

PT's picture

The vast majority of living creatures also don't have machines that allow one creature to do the job of ten to one hundred creatures.

The vast majority of living creatures have no industry, no agriculture - just 100% hunter-gatherer economy.
The old wolves and lions don't have to take down the antelope.  The young, strong wolves / lions do that and the old ones get the scraps (if there are any left over). 

Sometimes the young lions get pissed off with an old, weak lion so they will rip it apart.

The vast majority of living creatures don't pay rent or even a mortgage.  Either they "own" a section of land or they dont.

Human beings are rumoured to have a brain sitting somewhere above their neck and between their shoulders.  There is no reason why they shouldn't use it.

LawsofPhysics's picture

Here, let me simplify if for you dipshit, if you don't have calories that you can consume, you are not going to actuall be able to do a fucking thing.

PT's picture

Yes, that part is true.

But our guvt pays people to have babies, and even China has abandoned its "One Child" policy so I guess they believe that we do have enough energy hidden away somewhere after all.  (No, I don't believe that last sentence either.)

LawsofPhysics's picture

Would not be the first time people ate each other.

lnog soylent green.

PT's picture

.

ONLY when the last tree has been chopped down
When the last river has been poisoned
When the last fish has been taken from the sea
Will white man realize that people can be eaten

(errrr, that's how that saying went, wasn't it? :P   )

When it gets to that stage, I really hope I am not one of the survivors.
https://en.wikipedia.org/wiki/Kuru_%28disease%29

Dr. Richard Head's picture

I take this as the boomer generation being dualy duped.  Once with the promise of retirement through Social Security (fail) and then with the 401k (con).

The way I look at it now is that if the news paper, news channel, or commercials promote then I don't want it.  At least wit hthe 401k bullshit I can opt out of it, until the forced MyRA plan is hoisted upon on.  Social Security has no opt out, of course.

Excursionist's picture

Baby Boomers... what an awesome generation.  Consumed too much, didn't save enough, made Gen X the first group of latch key kids, still using its formidable numbers to vote itself more benefits (e.g., ACA) for its golden years, still writing books about how awesome they are.

As much as it sucks for younger generations, somehow it's fitting that Baby Boomers work until they die.

Wait What's picture

just wait til the stories start hitting MSM of 'older workers dying on the job' cuz that will be the icing on the boomer cake.

bullish for casket makers and mortuaries.

scrappy's picture

Amen Reverend - from Independence Day.

lester1's picture

Reaganomics 101 - Debt and greed are good !!!

 

moneybots's picture

"As much as it sucks for younger generations, somehow it's fitting that Baby Boomers work until they die."

 

You know, it's funny that you probrably wouldn't have a job except that somebody is consuming.  One  of the first things president Bush said after 9/11, was to go out and shop.  Funny how a whole bunch of jobs disappeared in 2008-2009, when people stopped shopping.

 

 

gwar5's picture

Boomers got ran over by TPTB truck and brainwshed by the propaganda just like every other subsequent generation. Blaming the boomers is more propaganda.

Vast majority of boomers are still just average folks who drive old pickup trucks, not new BMWs. They fought against SS, medicare, and the welfare state, and lost. Now that it's your turn -- what are you going to do? 

The Baby Boome generation is going to be eating dogfood and getting euthanized when .GOV defaults on Social security and medical treatments.

GeezerGeek's picture

A boomer myself, I generally think complaints about boomers are overstated. To the extent that those complaints are true, I used to tell my father that it was his generation's fault, His was the one that survived the First Depression, fought and won WW II, and then proceeded to improperly raise their kids. They were mostly guided by progressives like Dr. Spock and were too busy trying to shield their offspring from the trials they'd endured. Result: a spoiled generation.

That said, I really think that the US must avoid electing any more boomers to any more elective offices. Clintoon, Bush and Obama all proved harmful to the American Dream. Please, younger US generations, do yourselves a favor: do not, under any circumstances, elect Hillary. Or Jeb Bush. Please!

Dr. Richard Head's picture

Just for the record, I am not blamming boomers for anything.  I just said they were dualy duped.  It sucks.  I hate looking into the eyes of someone who could be my grandma as she bags my groceries with her arthritis.  It makes me sick as I see the pain in their eyes that they have to still do this shit.  They were duped, as many in them believed in the SS and 401k.  It's not their fault they were duped.  The con-ment at the top are good.

CoastalCowboy's picture

I generally agree with your observation that the Depression era generation shielded their children as I witnessed many a case of it. I was born when my Depression era parents were nearly 50 so generational wise I'm with the boomers, but chronologically I am early Generation X.

My parents were not like that with me and my older siblings at all, in fact they were the exact opposite. My father was always telling me such feel good things like "The World does not rotate around your ass!" or "You fuck up, Boy, I won't be there for you!". My Mother would relate to me about the many times she was starving for food during the 30's Depression.

They trained me well for what we are facing today.

SF beatnik's picture

In the USA, the 1950s were a golden era of human history.  We pigged out.  You would've too. 

We all thought it was the easy life forever and ever.

It's been all downhill, since. 

Coming soon, a world of shit for one and all.

Simple J. Malarky's picture

Just hit 51 and I do not plan on retiring until they take me out on a gurney. Since I work at hospitals there will plenty of those around! Not counting on SS or my 401K, just gonna try to make do with gardening, beekeeping and barter when the SHTF.

SF beatnik's picture

Not to worry.  Soon, there'll be work for everyone - sanitizing door handles,  mopping up ebola puke. 

escapeefromOZ's picture

Very often volunteers for jobs the nobody wants and are not paid . We are witnessing the end of a country 

SF beatnik's picture

Now, the unemployed kids can live with their parents. But can unemployed parents move in with the kids?

WarHorse's picture

Um .... 230k+45k-72k-10k = 193k  Not sure that equals +248k but I'm not good with the "new math"

awwesomesauce's picture

thats under the new government rules. round up,up, up when it comes to job creation, roundown down, down down when reporting inflation

Tyler Durden's picture

Household vs Establishment survey.

Why the BLS needs two when they often contradict is a different matter entirely.

eclectic syncretist's picture

It provides more opportunities to spin the numbers in owned media.  Remember the old saying, "if you can't dazzle em' with diamonds,.....".

EmmittFitzhume's picture

You forgot to add the deceased workers!

nakki's picture

Obviously they left out those under 16 and over 70. There fixed it for you.

Wait What's picture

are these pre or post seasonal adjustment? cuz, you know, it's not a real job unless its seasonally adjusted.

drendebe10's picture

Standing ovation for a job well done by the incompetent arrogant narcissistic illegal indonesian kenyan alien muslim sociopathic pathological liar in chief who only cares about its overprivileged opulent celebrity grand imperial gokf lifestyle on the backs of hard working tax paying U.S. citizen serfs & peasants and who is unable to correctly pronounce "eboly" & "navy corpse-man".

awwesomesauce's picture

wow thats quite thel list of adjectives

whatsinaname's picture

Thats a lot of adjectives Drend... 

slaughterer's picture

In SW Florida you see the grey-panther workforce in all its desperation.   Hirers love wage dumping on them, and make them bag the groceries, etc.   It is sick.  

fonzannoon's picture

I don't know if Tyler links Breitbart but this should be front and center on every news distributor today.

http://www.breitbart.com/Breitbart-Texas/2014/10/02/Exclusive-Thousands-...

IridiumRebel's picture

Bring us your poor, your blood shitting, hemmorhagic masses longing to infect America....

escapeefromOZ's picture

Make sure that Ebola sufferers come by plane for fast results. Agenda 21 cannot wait +

Seasmoke's picture

No Taxis for me .......EVER !

knukles's picture

Oh come on, Fonz....
The guy from the CDC said "We can't close the borders."  Probably with a bit of a liberal/Progressive whining and wringing of the hands.  Even though he knows full well the only solution is a cordon sanitaire. 
He also said that it isn't airborne.  (Well, but in the fine print)
And Dear Leader said only an 18% chance before year end on shore.
Mean, for shits sakes, they've got it under control.

PS  Wer'e fucked, royally.
BUT, Janet's gonna have the biggest excuse EVER, to ease policy.
What?
THey're all in, already?
Holy shit!