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"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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Fri, 10/03/2014 - 11:03 | 5284665 LawsofPhysics
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.

Fri, 10/03/2014 - 11:05 | 5284684 thunderchief
thunderchief's picture

Wall Mart greeters, and, and....

Senior Volunteers!!

Sheesh, you can't dream this shit up.

Fri, 10/03/2014 - 11:07 | 5284695 LawsofPhysics
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.

Fri, 10/03/2014 - 11:15 | 5284724 Pooper Popper
Pooper Popper's picture

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

 

Fri, 10/03/2014 - 12:00 | 5284905 max2205
max2205's picture

55'ers at 55% pay cut

What a drag it is getting older....

Fri, 10/03/2014 - 12:09 | 5284931 Divided States ...
Divided States of America's picture

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

Fri, 10/03/2014 - 12:35 | 5285061 Badabing
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!!!!!!

Fri, 10/03/2014 - 12:44 | 5285107 PT
PT's picture

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

Fri, 10/03/2014 - 13:28 | 5285310 The Limerick King
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!

 

Fri, 10/03/2014 - 12:25 | 5284996 GeezerGeek
GeezerGeek's picture

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

Fri, 10/03/2014 - 23:45 | 5287624 PT
PT's picture

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

:P

 

Fri, 10/03/2014 - 11:15 | 5284725 fockewulf190
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.

Fri, 10/03/2014 - 11:21 | 5284750 LawsofPhysics
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.

Fri, 10/03/2014 - 12:33 | 5285046 GeezerGeek
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.

Fri, 10/03/2014 - 12:53 | 5285157 PT
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.

Fri, 10/03/2014 - 12:55 | 5285175 LawsofPhysics
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.

Fri, 10/03/2014 - 13:19 | 5285273 PT
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.)

Fri, 10/03/2014 - 15:31 | 5285995 LawsofPhysics
LawsofPhysics's picture

Would not be the first time people ate each other.

lnog soylent green.

Fri, 10/03/2014 - 23:53 | 5287643 PT
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

Fri, 10/03/2014 - 11:25 | 5284758 Dr. Richard Head
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.

Fri, 10/03/2014 - 11:54 | 5284883 Excursionist
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.

Fri, 10/03/2014 - 11:58 | 5284900 Wait What
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.

Fri, 10/03/2014 - 12:02 | 5284908 scrappy
scrappy's picture

Amen Reverend - from Independence Day.

Fri, 10/03/2014 - 12:07 | 5284924 lester1
lester1's picture

Reaganomics 101 - Debt and greed are good !!!

 

Fri, 10/03/2014 - 12:12 | 5284951 moneybots
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.

 

 

Fri, 10/03/2014 - 12:16 | 5284966 gwar5
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.

Fri, 10/03/2014 - 12:46 | 5285126 GeezerGeek
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!

Fri, 10/03/2014 - 13:37 | 5285365 Dr. Richard Head
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.

Fri, 10/03/2014 - 13:50 | 5285399 CoastalCowboy
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.

Sat, 10/04/2014 - 04:26 | 5287942 SF beatnik
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.

Fri, 10/03/2014 - 13:52 | 5285428 Simple J. Malarky
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.

Sat, 10/04/2014 - 04:27 | 5287937 SF beatnik
SF beatnik's picture

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

Fri, 10/03/2014 - 11:47 | 5284856 escapeefromOZ
escapeefromOZ's picture

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

Sat, 10/04/2014 - 04:17 | 5287933 SF beatnik
SF beatnik's picture

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

Fri, 10/03/2014 - 11:24 | 5284740 WarHorse
WarHorse's picture

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

Fri, 10/03/2014 - 11:28 | 5284766 awwesomesauce
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

Fri, 10/03/2014 - 11:28 | 5284767 Tyler Durden
Tyler Durden's picture

Household vs Establishment survey.

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

Fri, 10/03/2014 - 12:22 | 5284982 eclectic syncretist
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,.....".

Fri, 10/03/2014 - 11:35 | 5284808 EmmittFitzhume
EmmittFitzhume's picture

You forgot to add the deceased workers!

Fri, 10/03/2014 - 11:38 | 5284818 nakki
nakki's picture

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

Fri, 10/03/2014 - 12:03 | 5284911 Wait What
Wait What's picture

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

Fri, 10/03/2014 - 11:21 | 5284743 drendebe10
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".

Fri, 10/03/2014 - 11:28 | 5284772 awwesomesauce
awwesomesauce's picture

wow thats quite thel list of adjectives

Fri, 10/03/2014 - 11:31 | 5284781 whatsinaname
whatsinaname's picture

Thats a lot of adjectives Drend... 

Fri, 10/03/2014 - 12:27 | 5285006 slaughterer
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.  

Fri, 10/03/2014 - 11:04 | 5284667 fonzannoon
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-...

Fri, 10/03/2014 - 11:05 | 5284677 IridiumRebel
IridiumRebel's picture

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

Fri, 10/03/2014 - 11:50 | 5284873 escapeefromOZ
escapeefromOZ's picture

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

Fri, 10/03/2014 - 11:06 | 5284690 Seasmoke
Seasmoke's picture

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

Fri, 10/03/2014 - 11:12 | 5284696 knukles
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!

Fri, 10/03/2014 - 11:22 | 5284754 Dr. Engali
Dr. Engali's picture

All part of the plan... all part of the plan. Now eat your peas and shit out your insides.

Fri, 10/03/2014 - 11:26 | 5284762 Dr. Richard Head
Dr. Richard Head's picture

Can I wipe with my bendy iPhone6?

 

Fri, 10/03/2014 - 11:26 | 5284764 drendebe10
drendebe10's picture

OMG. The gummint would de ceive us? I am shocked. 

But this is great news. If thousands have been let in and only one sick, we have been keot safe by the gummint bureaucrats. Hallelujah,brothers & sisters. Wutta great gummint we have lookin after us!  

Fri, 10/03/2014 - 11:27 | 5284765 drendebe10
drendebe10's picture

OMG. The gummint would de ceive us? I am shocked. 

But this is great news. If thousands have been let in and only one sick, we have been keot safe by the gummint bureaucrats. Hallelujah,brothers & sisters. Wutta great gummint we have lookin after us!  

Fri, 10/03/2014 - 11:34 | 5284803 Al Huxley
Al Huxley's picture

I know a few people who are of the opinion that the lack of controls is specifically intended to create enough of an outbreak here to cause a mass panic and demand for a vaccine, which will be conveniently suddenly produced by the heroic pharmaceuticals, who, having developed this strain of Ebola in 2010, and the vaccine in 2012, are now looking to cash in on the investment.

 

Watching the actions of the 'responsible authorities', I have a pretty hard time arguing with those people, much as I'd like to.

Fri, 10/03/2014 - 11:04 | 5284668 Seasmoke
Seasmoke's picture

i keep telling you all....i look forward to starting my career at 67

Fri, 10/03/2014 - 11:09 | 5284675 dirtyfiles
dirtyfiles's picture

this workers are highly disciplined,experienced,cost effective and not texting while at work so why not?

 

Fri, 10/03/2014 - 11:09 | 5284707 roadhazard
roadhazard's picture

I had texting disabled on my Trak phone. I have it turned off most of the time because most of my old friends are dead and I don't want any new ones.

Fri, 10/03/2014 - 11:11 | 5284711 Bryan
Bryan's picture

It's the last of that generation that the workplace will see.  ...better use em while they can because the next generation in line won't be worth the uppity minimum wage they'll have to pay them.

 

Fri, 10/03/2014 - 11:56 | 5284895 escapeefromOZ
escapeefromOZ's picture

The next generation would be Robots no more humans . This will cause a revolution ! How are humans going to survive with no work ? 

Fri, 10/03/2014 - 11:06 | 5284678 replaceme
replaceme's picture

I heard Carhart was making rugged adult diapers, for the older outdoor workers.  Would stop a .22 at 20 feet.

Fri, 10/03/2014 - 11:05 | 5284681 goldnguns
goldnguns's picture

"Exactly what one would expect" when the average 25 year old entering my front door to apply for a job can't even read a job application, can't walk in to a business decently dressed, can't be in an office environment for 5 min without their smart phone beeping/banging/buzzing/bubbling, and can't clearly articulate "why them" in 30 seconds.  So I hire old - the last one was 55 years old and is simply a tremendous asset.

Fri, 10/03/2014 - 11:09 | 5284709 LawsofPhysics
LawsofPhysics's picture

What do we expect after rewarding bad behavior for so long?  The fish rots from the head down.  Time to take some fucking heads.  Nothing changes otherwise.

Fri, 10/03/2014 - 11:21 | 5284746 junction
junction's picture

Starting a new career at 55 years old seems bizarre.  What business is that you run, a business cold calling people for a bogus charity?  And, pray tell, what is "why them."  Good thing you own a business, nobody would hire you.

Fri, 10/03/2014 - 11:25 | 5284759 goldnguns
goldnguns's picture

I run a telecommunications company with roughly 2500 accounts over 5 states, have been in business for 30 years (profitable every year) and I didn't say the "new hire" started their career.  He simply made a lateral move for increased pay, increased benefits, and a great work environment.  Come on down - I'd love to interview you and see what the results of your personality and aptitude test would show.

Fri, 10/03/2014 - 11:39 | 5284829 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

That shut him the fuck-up.

Fri, 10/03/2014 - 12:16 | 5284941 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

I wonder who bred them and taught them? Sorry, but the old generation always has some responsibility for the failures of the new generation.

Fri, 10/03/2014 - 13:06 | 5285230 BingoBoggins
BingoBoggins's picture

How true, if you consider I taught my kid the trade. Ruined his life, I did. I see a fuckin' dead end in construction. I'm working 3 to 1 or more illegals v native born. That's in the union, in Minnesota. I asked the mexican national organizer why they didn't try to recruit the brothers. His reply was, " they don't wanna work, man". Weird sort of assimilation ... dues are withdrawn automatically, close to $300 a month. Where that goes, I don't really know.

Fri, 10/03/2014 - 11:06 | 5284682 himaroid
himaroid's picture

At least it keeps granny off the streets.

Fri, 10/03/2014 - 11:06 | 5284683 Soul Glow
Soul Glow's picture

Thank you Wallmart!

Fri, 10/03/2014 - 11:07 | 5284693 IridiumRebel
IridiumRebel's picture

Overtime is paid in Viagra!

Fri, 10/03/2014 - 11:08 | 5284702 LULZBank
LULZBank's picture

That will be a really good raise!

Fri, 10/03/2014 - 11:11 | 5284713 JRobby
JRobby's picture

If you work long enough, you get 2 vacation days and a 3 pill sample of Cialis

Fri, 10/03/2014 - 13:52 | 5285424 Raging Debate
Raging Debate's picture

JRobby - I was speaking to Novartis pharmaceuticals a couple of weeks ago. This pharma ad executive told me the company is now forcing people to take vacation time. I asked why. The answer was burnout that was affecting performance.

She said people had to double up on tasks as the workforce is leaner and they dont take vacations because of all the work that will await them at return.

I run a small health publishing service. To maintain marginI learned database tech and for a solid year did the work myself along with other tasks. It was that or take one of those $11 an hour, part-time gigs.

I came back from vacation, the first I took in several years. I had a flat tire at the airport. The tow truck driver was 55. He lost his business, home and wife divorced him after the 2008 crash. He lives in a 30 foot trailer and said people like him had no hope they would ever recover financially. He is correct.

Fri, 10/03/2014 - 12:54 | 5285165 GeezerGeek
GeezerGeek's picture

If you find yourself working more than 4 continuous hours of overtime call a physician.

Fri, 10/03/2014 - 11:08 | 5284698 LULZBank
LULZBank's picture

Hope they are not Bacchus Ladies.

Fri, 10/03/2014 - 11:08 | 5284700 Jason T
Jason T's picture

no doubt ... home depot is nothing but old timers in my parts

 

Fri, 10/03/2014 - 11:14 | 5284718 roadhazard
roadhazard's picture

There aren't any twenty year olds that can talk plumbing or know what square foot means. sad

Fri, 10/03/2014 - 11:34 | 5284793 pods
pods's picture

From my experience, there aren't any older people there who know either.

pods

Fri, 10/03/2014 - 14:05 | 5285500 rejected
rejected's picture

A square foot occures when you don't wear shoes! This boomer knows :)

Fri, 10/03/2014 - 11:08 | 5284701 Dr. Engali
Dr. Engali's picture

Obviously these people didn't BTFD so they could retire.

Fri, 10/03/2014 - 11:15 | 5284721 Yen Cross
Yen Cross's picture

   If you ask any .gov croney or libtard, the bad labor participation rate is due to people retiring and stay at home mothers.

  Yeah... Thats why we need those 6 billion hollow points.

Fri, 10/03/2014 - 11:15 | 5284722 Government need...
Government needs you to pay taxes's picture

So, when describing how fantastic the US housing market is, should we begin discussing the exciting new dynamic where the >55s buy their first 'retirement home', followed 5-7 years laster by the first 'trade-up' home, followed 5-7 years later by the 'big fancy retirement home' purchase?

Fri, 10/03/2014 - 11:18 | 5284735 RealityCheque
RealityCheque's picture

Every week I wonder, can they top their own criminality and incompetence? And every week, they impress me.

Amazing, baffling and infuriating all at once. Yet "the public" accepts all of it in the name of "central planning knows best". 

What's happening here, in the stat manipulation, the bond markets, FX, Gold, Silver, Equities and the wilful ignorance of the masses is proof that 99% of the 99% don't deserve any help, any education or any warning for what's coming for them. The only use they might serve is as food for those who had the foresight to brace themselves against the storm. I'd have no qualms chowing down on any of the ignorant motherfuckers.

Look after yourselves, those closest to you and those who think along your lines (ie awake). Fuck. Everyone. Else. They aren't worth it.

Fri, 10/03/2014 - 11:59 | 5284903 Buster Cherry
Buster Cherry's picture

Your avatar absolutely sucks.\I did not downvote you because of it though.

 

I do hope you change it.

Fri, 10/03/2014 - 12:39 | 5285078 RealityCheque
RealityCheque's picture

Why? Most of what happens under the American flag is fairly fascist these days. Is the truth a little too uncomfortable?

Fri, 10/03/2014 - 13:02 | 5285213 BlussMann
BlussMann's picture

I wish you people would learn the difference between Judaeo Marxist tyranny and Fascism. The USSA is Judao Marxist, just steps away from FEMA gulags and thought control trials, just one more radical Supreme Court judge and its all over.

Fri, 10/03/2014 - 12:58 | 5285200 BlussMann
BlussMann's picture

If the avatar pissess of a Liberal I love it.

Fri, 10/03/2014 - 13:07 | 5285233 rwe2late
rwe2late's picture

Buster

Do you want the avatar changed because you think

"It's not fascism when we do it" ? ?

http://globalresearch.ca/its-not-fascism-when-we-do-it-u-s-government-cl...

 

Fri, 10/03/2014 - 11:19 | 5284739 gswifty
gswifty's picture

The illusion contunues as the American dream dies. Maybe the dream was just an illusion all along....

Fri, 10/03/2014 - 11:24 | 5284760 Racer
Racer's picture

That is what they wanted people to perceive a debt millstone that is a mortgage as a 'dream' when in fact it is a nightmare of epic proportions. You don't 'own' your 'home' but are a slave to it and have to pay the bills and upkeep on it for your bankster overlord true owner of the house. Whilst they sit back and rub their hands at all the money you have to keep giving them each and every month for the productive part of your life.

Fri, 10/03/2014 - 11:38 | 5284817 pods
pods's picture

I read one breakdown of the cost of a house, what the land costs, materials, etc.

Then they went through who makes the most on the house.

Turns out the bank, who allow us to create this magic money with the stroke of a pen, makes the most off of interest.

Pretty nice gig if you can get it.  Granted, that cut is eventually sold to the pension funds, but the bank still gets their skim.

Oh, and you can toss in property taxes as another great part of "home ownership."

pods

Fri, 10/03/2014 - 13:29 | 5285321 rwe2late
rwe2late's picture

 Owning a house solely to save money, indeed, may not work out.

Nonetheless, some have lucked out buying low and flipping for profit.

Some obtained a mortgage rate less than cost-of-living inflation.

Some purchased a house and kept a steady income without having to move.

 

Aside from any monetary "savings' by owning, there can be advantages over renting.

Freedom from landlord rules about pets, noise, gardening, etc..

Freedom to personalize/upkeep one's residence (paint, carpeting, whatever)

Possibility that once mortgage is paid off, taxes and upkeep will be less costly if retired than available/comparable/suitable rent.

 

 

Fri, 10/03/2014 - 11:21 | 5284745 Rainman
Rainman's picture

Here's a brutha who got a job as a Congressman without being elected.

             http://www.bloomberg.com/news/2014-10-03/bogus-congressman-said-to-get-backstage-at-obama-event.html

Fri, 10/03/2014 - 11:30 | 5284748 RaceToTheBottom
RaceToTheBottom's picture

They are hiring  the experienced set because previously when they laid off the experienced set and went with keeping their buddies they got what they deserved.  Buddies that did not know crap about anything.

Now they get a chance to shore up their pathetic work force.

Plus older farts cannot and will not ever be able to retire...

Fri, 10/03/2014 - 11:29 | 5284775 world_debt_slave
world_debt_slave's picture

yep, 85 is the new 67 for retirement

Fri, 10/03/2014 - 11:32 | 5284787 Al Huxley
Al Huxley's picture

Wow, what a surprise.  Who would have ever expected that in a system so thoroughly proven to be owned and operated by a small elite, for their own benefit, at the expense of the rest of the entire population, statistics would be manipulated for that elite's benefit?  Shocking, absolutely shocking.

Fri, 10/03/2014 - 11:33 | 5284796 youngman
youngman's picture

Its all about competence...a young kid today is a liability..a joke....they just dont care....its just a paycheck for them..where an older person cares..will show up for work..not high....does not need to text every minute...I would hire a 55 year old before a 20 year old anyday....

Fri, 10/03/2014 - 13:32 | 5285340 PT
PT's picture

I know a young kid that now has 50 people working under him.  That kid is never gonna work for you because he's making too much money working for himself.

A real rags-to-riches kid, I never did find out his secret.  Sure he worked hard, but so does everyone else I know.  I suspect he must have borrowed shitloads of money to expand so quickly but he's been going for just under a decade now so I think he knows what he's doing.

I do wonder if his dad being a banker had something to do with his success but I wouldn't lay money on it.

Fri, 10/03/2014 - 11:39 | 5284828 Al Huxley
Al Huxley's picture

You know, there's only so much demand for Walmart greeters.  At some point this number's going to collapse.

Fri, 10/03/2014 - 13:51 | 5285418 Postal
Postal's picture

I'm trying to figure out why there is any demand for a Wal-Mart greeter.

Fri, 10/03/2014 - 11:45 | 5284852 limacon
limacon's picture

Experience is what AI's lack .

Artificial Intelligences are already here .

http://memeburn.com/2014/09/amelia-is-the-artificial-intelligence-comput...

If humans insist on competing with AI's , they will lose. Losing here means "extinction" . That is a permanent loss of job for everone .

It also depends on Ethics .

See http://andreswhy.blogspot.com/2012/04/god-and-ais.html

 

Cooperation here is much better than competition .

See http://andreswhy.blogspot.com/2009/04/competition-and-co-operation.html

 

See what is happening where Neo-Luddites play :

http://andreswhy.blogspot.com/2014/05/nova-luddites.html

 

See what is in store :

http://andreswhy.blogspot.com/2008/12/smallest-ai0.html

 

Fri, 10/03/2014 - 12:05 | 5284923 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

I know lots of people with "artificial intelligence".

Fri, 10/03/2014 - 11:49 | 5284865 SheepDog-One
SheepDog-One's picture

YAY hey lets all celebrate and buy sum stawks for this weekend!

Fri, 10/03/2014 - 11:55 | 5284889 Buster Cherry
Buster Cherry's picture

Employers need people with a degree of common sense and critical thinking skills, not someone who's life revolves around their IGadget.

Fri, 10/03/2014 - 13:06 | 5285225 PT
PT's picture

Just because a young person doesn't have an iGadget, doesn't mean that young person gets hired.  Good attitude and enthusiasm does not get a young person a job.  Plenty of idiots have jobs while plenty of good kids go unemployed.  I do not know how to solve that problem but I have seen it happen too many times.

Fri, 10/03/2014 - 11:55 | 5284892 djsmps
djsmps's picture

Way to go Boomers!

Fri, 10/03/2014 - 11:56 | 5284893 thunderchief
thunderchief's picture

These folks are gonna be as useless at work as they will be fun at at a weekend afterwork party.

Grandma too, unless she takes her false teeth out.

Fri, 10/03/2014 - 11:57 | 5284894 fxpmtrader
fxpmtrader's picture

Thre previous generations have been taught - the hard way - what it means to work and what is the value of a job.

The current young generation have been taught - the easy way - by the corrupt and prostitutes - how shitty work is and how smart it is to live and steal on somebody elses expenses.

Fri, 10/03/2014 - 12:15 | 5284958 Cthonic
Cthonic's picture
Bud I like you, just remember something. Man looks in the abyss, there's nothing staring back at him. At that time a man finds his character--and that is what keeps him out of the abyss...
Fri, 10/03/2014 - 12:24 | 5284991 Quinvarius
Quinvarius's picture

You do realize you are talking about Baby Boomers, right?  People that can't use computers and who are too old to lift 10 pounds to their waist.  People that collectively shit their pants and cowered over one war.  The generation of useless eaters.  Stop fuking with generation Kill.

Fri, 10/03/2014 - 13:56 | 5285436 rejected
rejected's picture

So computers weren't being developed or used in the 80.s and 90's. They just popped up with the millennial gens. POOF! As a boomer of 65 I am well versed in C, C++, APL, PASCAL, BASIC, FORTH and some I have forgot.

Now I do not text or stare at an Iphone all day IF that is what your talking about. These days they're having to import programmers and IT specialists as it appears our younger crop can't handle it.

I have no idea of what war your taliking about. If Vietnam at least the boomer generation persuaded government to leave that useless war. The millenials don't seem to care one way or another so long as they aren't the ones dying.

As far as useless eaters I'll pay uncle a large 5 figure tax this year. Better than all them Taco Bell and MacD that pay nothing living off the useless eaters.

 

 

 

 

Fri, 10/03/2014 - 11:57 | 5284897 Quinvarius
Quinvarius's picture

This job report is complete bullshit.  No way is this true.  That is an age group no one monitors so they stuck the jobs there.

Fri, 10/03/2014 - 11:56 | 5284898 Spungo
Spungo's picture

Why would I need a job when I have grandparents?

Fri, 10/03/2014 - 11:59 | 5284904 gwar5
gwar5's picture

That's just FKing amazing -- all the jobs went to the elderly? Speechless. Even worse than I imagined, and probably part-time jobs as waitresses and at Home Depot.

 

 

 

 

Fri, 10/03/2014 - 13:10 | 5285241 PT
PT's picture

The oldies have already paid off the house and their kids are grown up.  They just want a bit of pocket money, therefore they are willing to work shorter hours.  The young kids that want to buy a house and start a family need to work full-time plus shitloads of overtime.

Fri, 10/03/2014 - 17:38 | 5286545 mendigo
mendigo's picture

Much as I love them, like all financial pros the tylers are master of supporting thier arguement with graphs and statistics but such analysis is very prone to bias. Old folks like myself are struggling to find decent work just like the wipper-snappers. For as long as i can recall each generation believed the other had the advantage - but that discussion is for the weak and incompetent winers.

Fri, 10/03/2014 - 12:04 | 5284918 lester1
lester1's picture

Reaganomics/consumerism have been colossal failure !!!

 

Debt is good, greed is good, buy things you dont need, etc

Fri, 10/03/2014 - 12:22 | 5284986 Atomizer
Atomizer's picture

Elderly cane walking might jump start GDP. 

Fri, 10/03/2014 - 12:23 | 5284988 moneybots
moneybots's picture

Where are all these granny's getting hired?  I certainly haven't seen it.

Fri, 10/03/2014 - 12:38 | 5285079 Quinvarius
Quinvarius's picture

It isn't happening.  I rate this hogwash on par with Ebola is not airborne.  There is no way our growth in jobs among senior citizens is about as large as any other total job growth we have been having over time.  This makes no sense at all.  Read as far as minus 10k jobs and stop.  This is election year horseshit.

Fri, 10/03/2014 - 13:42 | 5285386 Cortez
Cortez's picture

Chat rooms at GranniesXXX.com

Fri, 10/03/2014 - 13:49 | 5285403 Cortez
Cortez's picture

*

Fri, 10/03/2014 - 13:48 | 5285406 Cortez
Cortez's picture

Slogan at GranniesXXX:

 

You'll cum for the wrinkles, but you'll stay for the kindness.

Fri, 10/03/2014 - 12:37 | 5285067 q99x2
q99x2's picture

People have much better medical care and are able to maintain their bodies and minds for longer than ever before. The professors at UCLA that are over 70 are so damn smart it makes you wonder if they are human or maybe had memory implants.

Fri, 10/03/2014 - 12:43 | 5285111 Quinvarius
Quinvarius's picture

Well now they have Obamacare.  So kiss those old dudes goodbye.

Fri, 10/03/2014 - 12:39 | 5285089 MarcusAurelius
MarcusAurelius's picture

This data coorelates well with the participation rate. The 55-64 group are boomers. I am at the tail end of them at 51. Although they have cut back on spending to hopefully retire one day when they are about 75 or when they drag their dead bodies off the work floor. They don't have enough savings for one thing, they generally work two jobs when they can, and they have more work experience than the younger generation. So the companies that are hiring hire them. I should point out that this data also correlates to the wealth (or lack of) pyramid where the middle class has been decimated. Well these are the people that made the middle class what it was. Essentially creating it. It didn't really exist before the boomers. 

      This is more of a demographic problem than anything else and a failure of the sytem. I am not even sure that they would retire if they could? 

Fri, 10/03/2014 - 12:49 | 5285137 BingoBoggins
BingoBoggins's picture

57, no, 58 in a week and I'm still slinging mud and drywall with the best of the mexican immigrants. Bigger, faster, stronger, and I know more dirty tricks! Until, like you say, they pull the trowel from my cold, dead fingers. I hope I fall out of the swing stage when I cack. Wouldn't that be spectacular? fuck it ...

Fri, 10/03/2014 - 13:11 | 5285250 bh2
bh2's picture

"Having savings" is fine if you expect to retire living only on your accumulated capital. Good luck with that.

No managed pension program makes that assumption to meet retirement needs; most have assumed a nominal 4-6% per annum return on low-risk investments. Not happening for years now. Under ZIRP, "having savings" means either owning dead cash or taking on excessive risk.

Fri, 10/03/2014 - 13:13 | 5285255 PT
PT's picture

In my country there are still plenty of oldies complaining that they are losing jobs to the young ones.  "Everyone wants a 22 yo kid with 20 years experience."  I don't know how that fits in to this narrative.

Fri, 10/03/2014 - 13:34 | 5285352 Bunga Bunga
Bunga Bunga's picture

Glad to hear that I am not old enough.

Fri, 10/03/2014 - 13:48 | 5285407 rwe2late
rwe2late's picture

Too many comments ignore pay and benefits.

(1)  Older people are being hired because they

don't need medical coverage age 62 and up (Medicare).

(2) Older people may be willing to accept low pay because they have ( a pension, a paid-off mortgage, no student debt, no children, etc.).

(3) Younger people also may be turned away because they are either over or under qualified and have little or no work history. The company may have little opportunity for advancement and believe the younger applicant is a high turnover risk because he/she will always be seeking better employment. The company doesn't want to train anyone, even for a low-skill job.

Fri, 10/03/2014 - 13:53 | 5285429 Eahudimac
Eahudimac's picture

Maybe if so many of the 18 - 30 year olds didn't have those giant earlobe hoops that stretch them out into some kind of hideous deformity, more of them would have jobs. I could see them being a benefit for a hooker because it gives them a place to put their feet. But other than that, no one is going to hire you with those things in your ears.

Sat, 10/04/2014 - 00:01 | 5287669 PT
PT's picture

If only life were that simple.

Actually, some of those kids do get hired - and in jobs that pay quite well, while those with normal ears still struggle.

Fri, 10/03/2014 - 14:02 | 5285475 Caveman93
Caveman93's picture

So, this makes me wonder something. If younger folks can't find work to gain experience and be vaulable when they hit "peak" employment age of 89...what the fuck good will they be to any employer who does not willingly train new employees? HOLY SHIT! 2040 gonna be a nightmare!

Fri, 10/03/2014 - 15:48 | 5286073 are we there yet
are we there yet's picture

Walmart greeters are the future.

Fri, 10/03/2014 - 16:47 | 5286342 eucalyptus
eucalyptus's picture

This post needs to be bolded/pinned up to the top of the front page for all to read.

It really destroys any 'argument' for healthy jobs numbers - even more than the participation rate posts because idiots always opine when you show them taht number that it is driven by an aging workforce exiting out and not the real isssues of 'prime workers' not working.

Tyler, pin this entry to the front/top please.

Fri, 10/03/2014 - 16:48 | 5286355 Totin
Totin's picture

I'm 23 years old and I resent these old people taking our jobs! Retire already! I need to get out of my parents house and I can't do that unless I'm making 60K. Right now I can barely afford an Xbox 360 and a iPhone. I'm very creative and I'm willing to work up to 40 hours per week. Gimmee a job already!

Fri, 10/03/2014 - 17:04 | 5286419 eucalyptus
eucalyptus's picture

should've gone to wharton - you could create all you want on a MBS desk at a TBTF squid.

Sat, 10/04/2014 - 07:12 | 5288064 didthatreallyhappen
didthatreallyhappen's picture

but wait!  there is a silver lining!

 

The economy is so great nobody needs to work!

 

Yogi Berra Lives!

Sat, 10/04/2014 - 11:45 | 5288497 Arthur Schopenhauer
Arthur Schopenhauer's picture

What would you think (or feel) if the report stated there was a net loss of jobs across the board, all age groups?

Sat, 10/04/2014 - 11:45 | 5288498 Arthur Schopenhauer
Arthur Schopenhauer's picture

What would you think (or feel) if the report stated there was a net loss of jobs across the board, all age groups?

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