Posted on 01/08/2013 1:21:26 PM PST by Kaslin
Last month I posted a chart showing employment by age group. Here is an update as of Friday's job release.
Employment Demographics by Age Group
click on chart for sharper image
Note that 100% of the job growth since the recession is in age group 55 and over.
Last month, someone proposed the above chart was blatantly misleading because it does not reflect the aging workforce.
Let's investigate that hypothesis with a look at actual data (numbers in tables and charts in thousands).
Civilian Institutional Population (CP) and Labor Force (LF)
Year | 16-19 CP | 20-24 CP | 25-54 CP | 55+ CP | 16-19 LF | 20-24 LF | 25-54 LF | 55+ LF |
---|---|---|---|---|---|---|---|---|
2000 | 15912 | 18311 | 120656 | 57697 | 8271 | 14250 | 101393 | 18668 |
2001 | 15929 | 18877 | 121604 | 58683 | 7902 | 14557 | 101789 | 19485 |
2002 | 15994 | 19348 | 122077 | 60151 | 7585 | 14781 | 101719 | 20778 |
2003 | 16096 | 19801 | 123289 | 61981 | 7170 | 14928 | 102309 | 22104 |
2004 | 16222 | 20197 | 123410 | 63527 | 7114 | 15154 | 102122 | 23011 |
2005 | 16398 | 20276 | 124175 | 65233 | 7164 | 15127 | 102773 | 24257 |
2006 | 16678 | 20265 | 124884 | 66988 | 7281 | 15113 | 103566 | 25468 |
2007 | 16982 | 20427 | 125696 | 68761 | 7012 | 15205 | 104353 | 26554 |
2008 | 17075 | 20409 | 125652 | 70652 | 6858 | 15174 | 104396 | 27858 |
2009 | 17043 | 20524 | 125565 | 72668 | 6390 | 14971 | 103742 | 29040 |
2010 | 16901 | 21047 | 125290 | 74591 | 5906 | 15028 | 102940 | 30014 |
2011 | 16774 | 21423 | 124704 | 76716 | 5727 | 15270 | 101744 | 30876 |
2012 | 16984 | 21799 | 124314 | 80187 | 5823 | 15462 | 101253 | 32437 |
Year | 25-54 CP | 25-54 LF | 25-54 Employed | 25-54 Not Employed | 25-54 Unemployed |
---|---|---|---|---|---|
2000 | 120656 | 101393 | 98292 | 22364 | 3102 |
2001 | 121604 | 101789 | 97948 | 23656 | 3842 |
2002 | 122077 | 101719 | 96823 | 25254 | 4896 |
2003 | 123289 | 102309 | 97178 | 26111 | 5131 |
2004 | 123410 | 102122 | 97472 | 25938 | 4650 |
2005 | 124175 | 102773 | 98517 | 25658 | 4256 |
2006 | 124884 | 103566 | 99672 | 25212 | 3894 |
2007 | 125696 | 104353 | 100450 | 25246 | 3904 |
2008 | 125652 | 104396 | 99369 | 26283 | 5027 |
2009 | 125565 | 103742 | 95144 | 30421 | 8597 |
2010 | 125290 | 102940 | 94082 | 31208 | 8858 |
2011 | 124704 | 101744 | 93674 | 31030 | 8069 |
2012 | 124314 | 101253 | 94150 | 30164 | 7103 |
“the decrease in civilian population in age group 25-54 was 1,340,000”
This says America has had a declining civilian population 25-54 over the last five years. This is hard to believe. Baby boomers are aging beyond 54 years. There are fewer younger people. This is still hard to believe. Someone 54 years old in 2012 was born in 1958. Someone 25 was born 1987.
The number of those aged 55+ in the workforce has doubled in the past decade.
I guess those cost-of-living adjustments aren’t quite keeping up with inflation after all.
There may be several reasons for this.
Experience and strong work ethic come to mind.
Older workers have both. Younger workers, not so much.
“Civilian Population?” Do they mean non-govermental and non-military? I imagine that they didn’t try to tease out the illegals among the workforce.
Yup, that was my take on it. The lack of work ethic among some of these younger kids is just jaw dropping.
“There may be several reasons for this.
Experience and strong work ethic come to mind.
Older workers have both. Younger workers, not so much.”
This.
We have some 20 something kids where I WORK. They no nothing about work. They don’t want to learn how to work. They are arrogant, lazy, it’s impossible to teach them anything as they already know everything.
When I was coming up most of the guys my age would kill to be able hang around with the older guys just to learn. We respected those guys and understood they’ve been there done that and had tons of knowledge that we only dreamed about. One of my earliest jobs was in a precision sheet metal shop. There were a couple of older guys there that built airplanes for WW2. I thought those guys could walk on water.
It is a different world today.
Hey, more work for us. Time to go for that better paying job for your final qualifying quarters of SS...and then don't retire.
Amen brother!
The practical knowledge possessed by the old timers where I live in northern Idaho is absolutely priceless.
I’m 61 and if there is something I don’t know how to do I ask around and one of these “old guys” educates me.
You can’t buy that kind of knowledge and it sure as heck is not taught in today’s schools.
Or it could be that the data is flawed. All those new jobs the economy is suposedly creating don’t fit with reality. They had to put those phony jobs somewhere in the statistics. The probably figured the older demographic was easiest place to hide their errors.
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