Old Workers Hit New All Time High As All April Jobs Go To The "55 And Older"

Tyler Durden's picture

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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LawsofPhysics's picture

Well, it's the least the Fed could do after stealing their lifes savings and destroying the fixed income "market"...

Haus-Targaryen's picture

Love how my generation is getting fucked the hardest -- and most people my age have no idea how compound interest works. 

KnuckleDragger-X's picture

I remember a few years ago when I was planning to be retired by now, silly me....

farflungstar's picture

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

 

 

LawsofPhysics's picture

let's be clear and try to stay focused, the fed is fucking stealing from everyone.

rejected's picture

Correct... It's easy to be sidetracked.

Always remember who the enemy is.

markovchainey's picture

I'm happy they ignore us.  The less we suffer under their baleful gaze the better.  I'm going back to my dumpster now.

kareninca's picture

ditto.  maybe if they forget we exist they will leave us alone.

Kirk2NCC1701's picture

Followed by the WURST* Generation. 

* German for Sausage.  And do you know how sausage is really made?

TeamDepends's picture

Pick it up grandma, those burgers ain't gonna flip themselves!

SHEEPFUKKER's picture

All grandma Yellen has to do is hit Ctrl + P. I think she can handle it.

Rubbish's picture

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

insanelysane's picture

Love the look the youngsters give me when I pick up pennies.

ali-ali-al-qomfri's picture

its called pity, and they're staring at the massive toilet papar tail your draggin' around.

rejected's picture

To heck with pennies,,, My wife found a $10 FRN outside a antique shop. Today equivalent to a penny 100 years ago.

JRobby's picture

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

TeamDepends's picture

We HAVE FAILED as a society. Obamacare will take care of the elderly.

JRobby's picture

I agree, it is spelled "honor"

A truth that's told with bad intent, beats all lies you can invent (Blake)

TeamDepends = FAIL

TeamDepends's picture

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.

Dr. Engali's picture

No need to explain sarcasm to people. If they're too dense to get it, then fuck them.

JRobby's picture

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

Ginsengbull's picture

Society reaches greatness when old men plant trees in whose shade they will not stand.

 

I forget who said that.

JRobby's picture

That scab will have thicker skin under it......Geez!

Toolshed's picture

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!!!

Seek_Truth's picture

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.

Ginsengbull's picture

You have to go through a critter-poop phase before you finally become dust.

JRobby's picture

You speak of people who have been abandoned by their children. That is pretty sad. That is what I am referring to.

 

Elliott Eldrich's picture

"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...

DontGive's picture

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).

rejected's picture

Dumbasses..... Agreed. For assholes having offspring that think like that.

My 'precious' offspring is complaining that I am spending HIS inheritance.

DontGive's picture

How dare you spend his money - that you earned!

rejected's picture

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.

 

 

madbraz's picture

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...

Hal n back's picture

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

 

 

disabledvet's picture

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.

corporatewhore's picture

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.

Seek_Truth's picture

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.

Polymarkos's picture

Sounds like you are an idiot. No pride in work, no realization that work is an EXCHANGE, not slavery.

Seek_Truth's picture

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!

LawsofPhysics's picture

so what?  on a long enough timeline...

same as it ever was...

are you predator or prey?

 

woody188's picture

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.

Seek_Truth's picture

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.

p00k1e's picture

'grateful for a job' LOL

Hebrew Slaves said that too, "Grateful for these boiled lamb innards, Master."

cheech_wizard's picture

“Please, sir, I want some moar.” 

Toolshed's picture

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.

p00k1e's picture

Skull hood face bandanas start at .99 cent on ebay.

 

 

JRobby's picture

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