Earlier we reported that all the jobs added in April were part-time [4], 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.
[5]
And while the old workers rose to a new all time high of 33.379 million workers...
[6]
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.
[7]
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.
[8]
