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Old Workers Hit New All Time High As All April Jobs Go To The "55 And Older"
Earlier we reported that all the jobs added in April were part-time, or over 400,000, while full-time jobs decreased by over 200,000 pushing them further under the pre-recession peak. Here is another stunning data point: while it has been no secret that ever since the quote-unquote recovery virtually all job gains have gone to older workers, those 55 and over and ever closer to retirement, April merely confirmed this demographically disastrous trend, and of the 255K workers added in the household survey when broken down by age group, more than all, or 266K went to workers aged 55 and older also known as the age cohort which is realizing it is never going to retire under the Fed's centrally-planned regime.
And while the old workers rose to a new all time high of 33.379 million workers...
Working Americans in their prime career years, those aged 25-54 once again declined, this time by 19,000 in the month of April. And, as the next chart shows, just like full-time jobs have been unable to rise above the last-recession highs, so the number of workers aged 25-54 are now 4 million below the prior peak.
Finally, before anyone blames the collapse in prime-age jobs and the surge in "old" jobs on demographics and a drop in the participation rate for America's oldest workers, here is the bitter truth: increasingly old Americans are forced to work well into their retirement years not because they want to but because they have no choice, thanks to the Fed's ZIRP policy which has destroyed any retirement value their savings may have had.
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Well, it's the least the Fed could do after stealing their lifes savings and destroying the fixed income "market"...
Love how my generation is getting fucked the hardest -- and most people my age have no idea how compound interest works.
As planned.
I remember a few years ago when I was planning to be retired by now, silly me....
"The Worst Generation"
What, the Baby Boomers didn't produce Gen X? Only Millennials? Sounds as though Millennials are just as selfish, spoiled and self-absorbed as their Boomer parents.
Ted Rall was right: Popular culture is trying to write the people born between 1961 and 1976 right the fuck out of existence. Boomer/Millennial articles that ignore the existence of Xers have become commonplace, like the one you link to. Boomers and Millennials can both suck it for trying to unperson 50 million of us.
http://rall.com/tag/generation-x
let's be clear and try to stay focused, the fed is fucking stealing from everyone.
Correct... It's easy to be sidetracked.
Always remember who the enemy is.
I'm happy they ignore us. The less we suffer under their baleful gaze the better. I'm going back to my dumpster now.
ditto. maybe if they forget we exist they will leave us alone.
Followed by the WURST* Generation.
* German for Sausage. And do you know how sausage is really made?
Pick it up grandma, those burgers ain't gonna flip themselves!
All grandma Yellen has to do is hit Ctrl + P. I think she can handle it.
Seems us old peeps have the work ethic and skilz needed to get a yob, sooo lacking today in da yuts.
Gold Bitchez....I pick up pennies
Love the look the youngsters give me when I pick up pennies.
its called pity, and they're staring at the massive toilet papar tail your draggin' around.
To heck with pennies,,, My wife found a $10 FRN outside a antique shop. Today equivalent to a penny 100 years ago.
A dog starved at his masters gate, predicts the ruin of the state (Blake)
A society that does not honor it's elderly citizens will fail. (ME)
TeamDepends = FAIL
We HAVE FAILED as a society. Obamacare will take care of the elderly.
I agree, it is spelled "honor"
A truth that's told with bad intent, beats all lies you can invent (Blake)
TeamDepends = FAIL
It's sarcasm, Robby. It is revolting to see people in their golden years working fast food. Unless, of course, they are financially secure and want to be there.
No need to explain sarcasm to people. If they're too dense to get it, then fuck them.
I totally get the sarcasm. I am also a supporter of the good Dr. but perhaps this is what we are all talking about when we believe our society has failed? No patients at all for anything.
I see the senior people that can't walk or limp badly working in Walmart and Walgreen's. It's sad.
Bottom line is I am in a bad mood today, so no excuse but SORRY
Society reaches greatness when old men plant trees in whose shade they will not stand.
I forget who said that.
That scab will have thicker skin under it......Geez!
How about explaining what you mean by honoring our elderly. I would say that putting the elderly, that are truly past the point of any sort of productive purpose, out of their misery and finding a productive use for their remains, is much more honorable than drugging them to a near comatose state and then paying someone with taxpayer's dollars to "turn" them periodically so they might not develop bed sores. I personally intend to honor my daughter by NEVER becoming a burden on her and her husband. When I get to the point where I can no longer take care of myself, I will willingly check out. No funeral required - talk about a complete waste of money!!! Yeah, let's spend $10,000+ planting some rotting meat in the ground. Fucking brilliant!!!
False dichotomy- There are more than two choices.
Homicide/suicide is never a moral option. That involves no honor.
When my time comes, I will never go to a nursing home.
I will simply go on a final hike.
As for my corpse- dust to dust.
You have to go through a critter-poop phase before you finally become dust.
You speak of people who have been abandoned by their children. That is pretty sad. That is what I am referring to.
"You speak of people who have been abandoned by their children. That is pretty sad."
I'm thinking most of those who end up abandoned by their children spent decades alienating and abusing them, which is why they end up alone. I'm sure there's been cases of truly ungrateful children who failed to honor good parents, but if I were to hazard a guess I'd bet that the vast majority of those parents who's children disappear on them have brought that sad conclusion onto themselves. Some parents have poor self-control, and some children have very long memories...
These abandoned people are the end result of being dumbasses.
Many spent their lives living check to check spending their shit on shiny plastic shit. Thinking that their kids will be their fallback/retirement.
"Look bitch, I fucked and pooped you out. Then I tried to make you do shit around the house like a good house nigger. Now that I'm old and broke, you wont get shit for an inheritence, but you get the joy of taking care of my old wrinkly ass, and then a burial bill"
Not to say the kids are little angels. But the apple doesnt fall far from the tree.
Mainly anecdotal, sprinkled with sarcasm (for those dense ones).
Dumbasses..... Agreed. For assholes having offspring that think like that.
My 'precious' offspring is complaining that I am spending HIS inheritance.
How dare you spend his money - that you earned!
Soylent Green applicant.
At this moment you must not be facing the inevitable. Right now your thinking with logical software. When your time gets close your natural firmware will kick in. At that point you will understand.
"burgers"..... Lol.
they lie and fudge so much with this data that soon they will get caught up in an unexplainable web of lies. like having to explain how all the job gains came from the age group 90 & older...
that also explains part time--the seniors wil take a 3 day a week job. Better for company as the seniors are on medicare. all the companies pay is payroll taxes
betcha no vacation or healthcare anyway.
so the dumb ass system is encouaraging all this.thats why academia should not run govt--they cannot see problems
Delta clears a billion dollars in one quarter.
Ain't doing that with full timers.
Good luck huffing that 80lb bag of luggage over the counter too.
at least my generation still shows up for work, doesn't answer cellphones while working or play video games. Generally, we're at work grateful for a job \even if it means flipping burgers, greeting people or just being cantakerous.
Sounds like cattle being proud they're in a chute, with nowhere to run.
Trust the chute.
It won't "steer" you wrong.
Welcome to the machine.
Sounds like you are an idiot. No pride in work, no realization that work is an EXCHANGE, not slavery.
Sounds like you haven't figured out how to make a living by self employment.
Enjoy your Stockholm syndrome!
PS- Hate to spoil the "surprise", but at the end of the chute, there's a bolt between the eyes waitin' for ya!
so what? on a long enough timeline...
same as it ever was...
are you predator or prey?
Not always so. Some employers can be very fair and even generous. Not everyone is cut out to be an enterpreneur. Both are needed in our society. The problem today is greed isn't good, contrary to Wall Street's espousal as such.
Greed isn't good.
You got that right.
The love of money (greed) is the root of all evil.
PS- before Nimrod, everyone was an enterpreneur.
'grateful for a job' LOL
Hebrew Slaves said that too, "Grateful for these boiled lamb innards, Master."
“Please, sir, I want some moar.”
That sounds a lot like slavery to me. I am fortunate to still have a decent job, but when (not if) I lose it, if all I can find is low paid, crap work at the likes of McDouche's or Crapmart, then I will cheerfully become one of the last true entrepeneurs - a criminal. At least criminals are guaranteed a cushy and safe retirement with all kinds of benefits paid for in full by those generous taxpayers. Plus while still active and generating revenue, as a professional law breaker (not to be confused with perpetual law breakers - known as politicians and bankers) the income tax rate is very similar to that paid by the 1%. It's all upside and no downside.
Skull hood face bandanas start at .99 cent on ebay.
They don't want a job, they need a job. To eat and pay the rent.
+ Forced into early retirement
+ Tech BUST
+ False home equity expectations fuled by excessive "financialization"
___________________________________________________________
= FUCKED OVER
bingo
"... of the 255K workers added in the household survey when broken down by age group, more than all, or 266K went to workers aged..."
More than all. Sigh. I admit I'm confiused, but at my age, not unusual. Time to head down to White Caste and fill out an app.
your typo (Caste) is so true. The last 6 years has produiced a true Caste System.
NoVa
The younger generations have bought into the lie that they can sit on their collective asses and wait for Obamao to forgive their student loans. I'm thinking they are going to be Solyant Green.
naw fuck it, just all dept is odious now. Why should we have to pay back our money that was lent to us by our government that holds the loan at interest. Boomers got bailed out, banks got bailed out, deadbeats got bailed out, why not bail out the kids who actually kind of tried to be something?
I say just scrap all this shitty socialism, start with social security and medicare, then government pensions, then welfare.
I kind of tried underwater basket weaving.
Well the important thing to remember is we saved our banking system and now it's on sound footing again. If we didn't we would have tanks in the streets. I know this because the greatest treasury secretary ever told me so.
Gotta make sure those tanks on the street are directed against citizens who are angry about police brutality not banksters stealing from them...the hegelian dialectic almost got screwed up there for a second. Thank Yahweh politicians are easily intimidated.
The bankers own the tanks, and lease them to Uncle Sam, or should I say Aunt Samantha.
Everytime I hear, read, or see that piece of shit Paulson- I just want to kick his ass.
So mesh all this with this wildly optimistic headline from Reuters on yahoo finance...
http://finance.yahoo.com/news/u-stock-index-futures-rally-125406192.html
"U.S. stocks rise as jobs data spur optimism"
You can't make this shit up! I can't take it much longer...
They're trying to kill 'em off quicker with exhaustion.
Too many usless eaters & labor glut globally.
It's bound to end well.
These salty mofos retire, get their pension and then come back as contractors for fat wages. Can't you boomers die already so I can get paid?
You first.
No coffee breaks for us - it is Martini time!
It's good to be king.
Pay seniors 5% on their lifetime savings, without risk of losing it all in a market collapse, and fewer of them would need to work.
Also, remember that the 'seniors' were one of the last generations to get a classical education with well rounded basic skills including reading and writing -- rather than revisionist history, modern math done only on calculators, reading of only socially accepted authors, 'cultural' experiences, and being passed without basic skills because failure is too traumatic.
It seems like Older people are willing to work for $10/hr or lower wages in general quicker and with a heck of a lot more enthusiasum then younger people.
Maybe its an old school work ethic?
Maybe its the fact that they were alive when $20 was acutally alot of money?
Younger people think of $10/hr as pretty much a waste of time because $10/hr no longer provides any hope for a future... gee if I'm lucky and work really hard maybe I will be making 12$/hr in a couple years.. will still be living in my parents basement with no hope but hey $12/hr is good $$
NOT!
Younger people are going to college taking out huge sums of student loans to live on, and employers simply prefer more experienced workers. This is a trend on other parts of globe as well like in Europe. There is a lot of slack in the jobs department, so experienced workers get jobs first. When the job market is tight, then employers will start looking as younger less experienced workers. Older people don't need job training as much to clean the restuarant, etc. Being old, they are likely to have many jobs in their life time. Age and job experience is accreditation to the employee itself.
With job market being poor, there isn't much hope for young employees. They will always be out-bidded by older, much more experienced workers. The more expensive the workforce compared to profitability, the harder employers screen out employees and become more picky.
Employers generally prefer older more experienced workers in the environment of uncertainty, taking into account employee prices in a depressed economy. Naturally older workers get first dibs most of the time.
Obamacare economy!
Wait till the bloodbath in America's health industry gets real in the numbers.
Really shows how few jobs there r out there for the stock market this high.
Little Johnny can't read this. That's what we should expect when public schools substitute gay training in first grade for reading, writing and mathematics.
Teachers in public schools have been worthless for thirty plus years.
They don't teach math, because nowadays we have calculators.
They don't teach spelling, because nowadays we have spellcheck.
If you force them to actually teach, they go on strike.
"Who is gonna watch your kids now?"
Administration always caves, and gives the teachers union whatever they want.
I'm 55 and get offers all the time from linkedin. Looks like they are looking for experience people and willing to pay the ask.
Just goes to show. Those working at Walgreens and the like - have minimal skills/productivity.
So - you're a 'cashier?
Bullshit, ZH. Who do you think are the main beneficiaries of the stock nirvana? Certainly not young people. The old people work because they are the only ones the companies find that have the skills. You think any company would hire someone old when they could find someone younger, who is supposedly in their prime productive working years?
I can't believe all of you guys are so utterly wrong. You really think the baby boomers are the ones that didn't save anything? That is a new trend. Old people lived when this trend did not exist..