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Prime Aged Workers Tumble In July, Workers 55 And Over Surge To New All Time High
By now what we first, heretically, said back in 2010: that the US is becoming a part-time economy, is common knowledge only the politically correct way of phrasing it, one which supposedly gives it a bullish spin, is "the sharing economy", as if that makes it better for millions of millennials that they will never again have any career security whatsoever.
But one other, even more damaging trend has yet to be noticed: the fact that elderly workers, still unable to retire due to ZIRP's crushing of their trillions in savings which have a "high yield" of under 1% at best, remain in the workforce, and the result is that there is no opportunity for young workers to enter the labor pipeline on the other end.
July confirmed as much, when in a month in which the Establishment survey reported that 215K jobs were added, the Household survey was far less sanguine, estimating only 101K job gains in June after a drop of 56K in May. But the punchline emerged when looking at the age composition of the job winners... and losers.
As we expected, more than all job gains, or 211,000 of the total, came in the 55 and over job category. Workers 16-24 lost a total of 8,000 jobs. And the worst hit were, who else, those in their prime, as the number of workers aged 25-54 dropped by another 131K.
Putting this in perspective, while the elderly workers in the US have risen by a whopping 7.4 million since the start of the Depression in December 2007, workers aged 25-54 are down 4 million!
And an even clearer way of showing this dramatic convergence: young vs old workers. But don't blame your father or grandfather for taking a job that you would like: they are simply unable to retire due to nearly a decade of idiotic Fed policies.
As a result: this.
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No country for old men.
Unless they want to work, then it's fine. They're apparently the only ones left allowed to work a job. Or maybe the only ones who want to.
Cause we know how to drive a manual transmission and use a rotary dial phone...
And punch cards....
I think I'll put all that on my resume!
Old joke the 55-up crew will get....
President of a large company addressing his employees says "I always said our employees were our most valuable asset. But I've recently found out that's not true. After commissioning a consultant to figure out what our most valuable assets really are they found that our employees come in 6th place in the rankings."
Stunned silence in the room as employees can't believe what they're hearing. Finally, somebody at the back of the room works up the courage to ask a questions. "So what came in 5th place above us?"
President rifles through his notes for a second and replies "Um... carbon paper."
That was a Dilbert strip some time ago.
But try finding anyone under 40 who knows how to drive a manual tranny.
They all think it means "paddle shifters" on the steering wheel
But... This trend explains why younger babes (like 30 somethings) are much friendlier to me and my old fart buddies.
And I notice a lot of them now ask "do you hunt?"
And I answer, "Why, yes. Yes, I do."
LOL!
Another good oldie: "I'm so old I cant even pay attention!"
wait...what? oh yeah, 'I'm so Poor' I meant..same thing overall...
And punch cards....
Still in use by the VA btw.
Don't forget about your good old IBM Main Frame's and Cobol programmers. They are not going anywhere.
Really?
A total shame AND a sin.
I heard a great KPFA radio interviewee, a gorgeous older black lady, who said this, and I'm paraphrasing...
"You know the state of a nation's spirit fromthree main things: Who do you pay the most in society? SHe gave the exapmle of the dichotomy between the NFL/NBA and Teachers...
Then you see how a society treats their old. If they are being herded into old age homes, you know a nation is rejecting it's collective wisdom...so true in the US, Elder care is a boooooming business in India now and everyone is open to herding their collective wisdom into homes for dying.
And you see how a society treats it's children. And she meant everything that implies"
Oh boy, look around us....and whats happening to the children, everywhere .....I have two daycares on my 100 yard dead send street."
Brilliant insights and shit looks dire from her peerspective...
https://aadivaahan.wordpress.com/2011/04/15/the-death-of-empathy/
let me add another point. to tell whether or not a society is civilized, all you need to do is take a look at how it treats its animals.
"The problem is that humans have victimized animals to such a degree that they are not even considered victims. They are not even considered at all. They are nothing; they don’t count; they don’t matter. They are commodities like TV sets and cell phones. We have actually turned animals into inanimate objects - sandwiches and shoes."
— Gary Yourofsky
Absolutely reader, could not agree more....
How many of these over 55 jobs are part time old farts, still trying to pay their electric bill in 100 degree heat and their dsl connection and Netflix for their live-in kids? The tough part is covering their grand kid's private school tuition. People will work three jobs to keep their kids out of public schools.
Intrestingly Electric rates keep going up. You would think it would be the number 1 priority to make them lower. Oh I forgot we have the boogieman, excuse me Terriost hiding in every shadow to worry about. With that said you would think they would want every citizen armed to protect themselves. LOL, that would just make too much sense.
No, it is evil global poisoning coal that Obama has unanimously decided to save us from. Power generation is under increasing pressure through regulations effecting virtually every aspect of the industry.
Electricity rates across the country are up roughly 20% since 2008. They're going up much higher within the next 5 years. The Obamanation is raping the coal/utility industry to death.
It's easier to replace old people with robots, they won't put up a fight.
Speak for yourself.
Everything is timing and i believe the goal is to time this decline on the backs of boomers who will be vilified for hoarding of their savings and their jobs and their demand for the fulfillment of one of government's biggest financial commitments, social security. It has always been about collectivization of our wealth and assets. As things worsen, the call for the expropriation of old farts stuff will grow and grow, with redistribution remaining their primary ideological tool....its about fairness as defined by those who want what you have.
The progressive message has always been that those who would actually work harder to have more are greedy and flawed, and pretend that the tax is a punishment for moral sins, while suffering the happy consequence that their appropriated assets serve the public good.
Solid
"elderly workers in the US have risen by a whopping 7.4 million since the start of the Depression in December 2007"
Not mincing words anymore Tyler?
When it's over they will invent a whole new word for it. Fun fact: They started calling it a depression back in 1930 because they thought it sounded better than recesssion ("soft patch" anyone?) and would ease concerns. And look how that turned out.
Get off that elderly shit right now , or I'm gonna slap a email at cha.
Oh wait...................
http://www.zerohedge.com/help/report-offensive-comments
Yeah, the correct term is "OLD FART" damn it.
"Elderly" means ready to check out permanently.
"still unable to retire due to ZIRP's crushing of their trillions in savings which have a "high yield" of under 1% at best, remain in the workforce, and the result is that there is no opportunity for young workers to enter the labor pipeline on the other end."
Our area went from over 100 employees to 9.
They're not replacing them ZH
Much work is not getting done but their profits are up and bonuses still abound... albeit for management only,,, and whose numbers have also dwindled.
I talk to others and it's the same thing. Nobodies compiling that data.
Retire? ha! hahahahhahahahaha!
Leave my job? Who the fuck is going to pull this train? My biggest concern is the kids' getting jobs. Aside from the labor market kids' (18-23YO) just don't seem to have the drive. Maybe I am an old fart but so much changed so quickly. I never saw these attitudes coming out of school during the 80-82 recession.People just kept plugging, I never saw anyone just remove themselves from the labor force.
And what is the bullshit that people have to find a job that they like, that makes them feel they contribute to society? That's all well and good but at least ind a job so you can eat.
Biology degrees are washing test tubes for 11 bucks an hour.... has little to do with drive and a lot more to do with opportunity.
Times change much faster in 2015, often when you take a specialized colege program, it becomes obsolete by the time you graduate. A career these days is not something that can be easily charted.
Biology degrees? That's hard to believe. I could believe people w/ social science and generalized business degrees, but most anyone with a hard science degree should have the moxie to make things happen for themselves. I guess I should research employment by degrees. I am sure that such data is collected...what isn't today?
I can believe it. I know aeronautical and mechanical engineers that can't find work. Folks with actual work experience in addition to a degree.
http://albainternazionale.blogspot.it/2015/08/caso-mistral-adesso-lasia-...
Sikorsky is going to have huge lay offs very soon. They're gonna lay off workers with large families in order to save on the medical insurance.
At the same time, Sikorsky is using a "temp service" to hire new employees. The temp service has a 40 page questionaire. Very personal stuff. They are activaly seeking 25-45 year old single males as statistically they are the cheapest to insure, having no families or female plumbing....
Went through the same thing, same company about 5 years ago.
I'm not saying that we couldn't have screwups, but the temps were like living in Bizarro World.
One would think that someone sent to build things that were not ment to fly in the first place, would know that a tool box has tools in it.
I'm surprised the Teamsters are going for the deal.
https://en.wikipedia.org/wiki/Sikorsky_Aircraft
Sikorsky is now Lockheed. Yes, the same Lockheed as the F-35. Sikorsky is fucked.
http://reason.com/blog/2015/06/15/expect-declining-living-standards-from...
Going to be ugly for very many as the make up comes off. Bet on higher divorce rates
according to the ideology, family as the last manifestation of communism has to be destroyed completely. Market knows everything and was/is/will be always absolutely correct, according to the same ideology.
Simple questions
Why would anyone with a functioning brain bring another child into this world today?
Do you feel compelled to add another slave to the ponzi system?
How selfish does one need to be to bring another child into this most fucked up place we call earth?
"The Selfish Gene", it's why you want to have sex.
People can't afford divorces!
Part time jobs surge again.
Wages drop again.
The unemployment rate is bullshit.
Generation stupid, it our own fault.
I worked at one of the large electronic on-line distributors (Tec Data) in my later years (that means I was a senior citizen I guess) and I have never seen such poor line management in my life. Darn near wanted to slap the shit oout of one shift leader. If this is the nrom amongst the prime age worker leaders then FY
People have been focusing on the dollar costs of government entitlements, when the real cost is the destruction of the motivation to work. Almost any debt can be overcome if one is willing to apply themselves, but the entitlements, not just of money but of a sense of social and economic justice have gutted our willingness to even TRY.
The marketing of false hope has killed all hope completely. All we see is false and failed promises compounded by corruption that rewards in unimaginable wealth.
Everything to destroy an economy and society has been done, and appears to be working to all expectations.
http://albainternazionale.blogspot.it/2015/08/caso-mistral-adesso-lasia-...
Why are there more older people working....because they work...they show up...they do their job...they were raised in the 50s and 60s and went to better schools that taught stuff....the kids today are dumb...just play with their Iphones all day...they could care less about the company they work for..they are out of shape...and have bad attitudes...and stealing is part of the job for them...
Agreed. But besides that, they don't have retirement savings and the ones that do are getting .5 percent return on CD's
Also because thjey are willing to take the low wage jobs, like serving at a coffee shop.
yes they are willing assuming they can get thru the interview and get hired. My last one lasted all of two minutes and I'm 63. I just laugh about it when age discrimination occurs.
my mother-in-laws's boyfriend is a retired dentist who for several years after he'd initially quit practicing was making even more $ bokering practicds for retiring dentists selling to young ones coming out of residency. he's long since had to close shop & reretire - there have effectively been no dentists (at least those phyically still able to practice) retiring since 2009...
anecdotal & just one profession but illustrates the point well...
Dude work? its summer! Gonna hang with me bros at starbucks playing candy crush on me new iphone!
Can I use my EBT at Starbucks? Guess I should just call them on my obozophone and ask myself.
There are more people getting older in the work force faster than younger people are entering is all this tells us. So fucking what? We already knew it was hard for younger people to get jobs. SSDD
Dying Country.
I stopped by the Lake yesterday early to have a smoke and drink some coffee on my way to work..nice peaceful place to get my head screwed on right before walking into the shitty job...two guys were fishing, both my age, (mid 50) and we started in to talk...both got freaked on the American dream and called it quits...so now they fish...and I go to work...something wrong here...they seemed very happy
Hahaha....I retired at age 54. Fuck you.
Well if you were going to be "forced" to pay a minimum wage of $15 an hour, who would you rather pay it to?
A millennial, many of which believe they are "owed" something and are unreliable or a "Boomer" who knows how to work and is depeendable in most cases?
I'm 53 and could retire 2 years ago since I am a long term government employee. I don't want to because I'm scared I'll just be a sitting duck dependant on my gov't pension. People are angry -- especially young people who can't get careers started because of this depression we're in. 30 years ago gov't employess were not thought highly of; we were shlubs and not ambitious while those who were went into private industry. Now we've got targets on our back because of the pension and other benefits and the job security. I see the seething resentment and it makes me nervous. I do not put having my pension confiscated/reduced or otherwise f*cked with past the people in charge. Constitutions can be changed, new laws and rules can be written so there are truly no real guarantees that I'll get my pension exactly as promised for the time period I need it. Unlike my colleagues who insist that it's written into the law and cannot be changed.
Right now everyone is at each others neck. The millenials hate the boomers, whites/blacks/asians/latinos hate whites/blacks/asians/latinos. The poor hate the rich, the rich resent the poor. People who can't find good jobs resent people who have them. In the end I believe we will all be at each others necks and it won't be pretty at all. As a boomer I can sense that I'm being set up for a huge fall, a fall I won't be able to recover from because I'll be too old. I made choices when I was younger and was fortunate enough that they are paying off. Others made other choices. I guess what I'm getting at is that this is going to be ugly one way or another and for me I don't really see the peaceful retirement I thought I was going to have.
It's actually the 45 and up group, as 45-54 expanded nicely. So it's the 25-44 group, the gereration Ys and Millenials that are slacking. Which should be a surprise to no one.
I say it one more time: older workers are not 'stealing' jobs from younger workers. It's much cheaper to hire a younger worker. It's a question of skills, which is a result of the horrifying trend in demographics, culture and environmt affecting the millenial generation.
The other factor is it isn't really worth working for your own place when most of your salary goes for housing costs and related, especially at salaries paid to younger workers.
And it may be that the EEOC has the Age Discrimination in Employment Act to smash over the heads of businesses, when the "protected age group" customer submits a complaint with the scum working at the EEOC saying they didn't get hired due to their age.
Yet the AARP herd will bleat that society has 'left them behind, has failed to care for their most vulnerable asses, has paid for their 3 x's the benefits than they contributed' entitled fcks. Ever notice who driving the Motorcycle "cruzers," is the biggest crowd at interstate rest stops, and tourist spots? Retirees are far less likely to fall within the gov't criteria of proverty than are children.
I've noticed that most of the well-equipped "vacationers" at the state and national parts, campgrounds, beach resorts, theme parks, etc. also fall into this category. All with obvious generational wealth on display, i.e. Corvettes, Rolex's, RV's/5th wheels towed by $60k dualies, etc.
I retired at age 60, that was 10 years ago. Actually got a golden handshake so younger guys could move up.
I do voluntary work now to keep busy. Don't need the money but do need the satisfaction of doing something.
Staying "productive" is important, though paid employment may not necessarily be part of the picture.
I'm an oldster, employed @30 hours/wk, and expect to be receiving a new job offer shortly after my 65th birthday. If I take the position, it will be in a new city, and a new country.
Time enough to twiddle your thumbs after you're dead, I reckon.
Its pretty disgusting to see Grandmas having to work at McDonalds
WTF is wrong with the USA? Unheard of here.
lets see, your 45-55, you've worked 25-30 yrs, your within 5-10 yrs. of paying off you're home mortage, you're supporting you're immediate, and probably some extended family, by borrowing or cashing in on you're 401k.
wake-up millennials, the govt. has unloaded a $200,000,000,000.00 debt on to you, and now their stealing your inheritance , if your parents don't work they will be broke, and probably have to take a reverse mortgage on the family home, the normal inheritance to pass down is a mortgage free home, that's disappearing, you'll inherit a dwindled down 401k that is one signature away from being out of your reach, for 20 yrs,"myra's", an iou, from the govt.,.
I've waited for the appropriate time for me to make a plea for legislation for myself, and maybe many others, I'm on social-security, so I'm now an america parasite, according to all millennials, except my family, after 40+ yrs. of employment, and paying taxes, raising, housing, feeding,and giving my children a "easier time of growing up than I had, it's no secret, I've health problems, and per Obama-care if I worsen they want me housed, and medicated. for pain until I die.
I'm willing, as now a parasitic American," one riding, not pulling the American wagon anymore, to for go my ss payments, costs of housing, and pain medication, if I can pick my own time to get out of the system.
let gruber run the numbers, and see what could be saved.
I'm in no way dodging any inheritance tax laws, far from it, it would be nice if the law decreased life insurance policies 50%, for what will be deemed as suicide, but would save me a trip to large inner city, and flash a $100.00 bill and get killed, then collect 100%.
I've lived the American dream, and it was hard as hell, now me, and most baby boomers are finding out we were just as fu--- as the millennials are now, from the beginning.
please give me the baby-boomer system freedom act, for the children.