Posted on 05/12/2012 6:28:23 AM PDT by Kaslin
Walter Russell Mead writes on the disappearance of jobs for non-Baby Boomers:
An analysis of recent jobs figures at Investor.com reveals a disturbing development: the biggest beneficiaries from the economic recovery are Boomers, while everyone else is getting the shaft.
Since the Obama administration took office, there has been an epochal shift. Young workers have continued to lose jobs and incomes, while older workers have actually gained ground.
In fact, the Obama administration has seen a boom in the prospects of the 55+ crowd; their (I should say ‘our’) employment stands at a 42 year high. Net, there are 3.9 new jobs for people over 55 since the recession began in December 2007, but there are 8.1 million fewer jobs for the young folks since that time.
Jed Graham's IBD article features a chart that shows the employment-to-population ratio that applies for the following age groupings: Age 16-24, Age 25-55 and Age 55 and up:
In the chart, we see that those Age 55 and older would appear to have a near constant share of their population group having jobs.
Meanwhile, we see significant decreases in the employment share of the populations for both the Age 25-54 group and especially for the Age 16-24 group since December 2007, which marks the beginning of the so-called "Great Recession".
We thought that outcome was interesting enough to dig deeper into the data to see how the age distribution of the U.S. workforce has changed over this period of time.
And to make it really interesting, we've decided to go back to November 2006 to do it. Here's why:
The downside to our more detailed approach is that we're not going to be able to use the BLS' seasonally-adjusted data for these older five-year age groupings, because the BLS only reports the non-seasonally adjusted data it collects for them, which means that the data we'll be using won't match these more commonly reported values.
Still, because we'll be comparing the data for the same month (November) five years apart, our analysis should only differ in very minor respects from what might be achieved using seasonally-adjusted data, if it had been available.
We're going to do this in a three-part series of posts, with this post being the first. Our next stop: the change in the age distribution of the American workforce from November 2006 to November 2011!
The young voted for this fundamental change.
More Boomers voted for Obama than McCain. The only demographic that McCain won was over 65. That’s it.
Someone finally noticed what I’ve been saying for a long, long time. Boomers are screwing everyone else over. Not to mention grandfathering pensions so that they get theirs, and everyone else gets nothing.
You need to find a new boogie man for why you are a victim.
BS Boomers are working so what.
So boomers should give their pensions to the Occupy crowd? Don’t think so.
More Baby Boomers now “have” to work, whereas many “kids these days” can just live with Mom and/or Dad.
Are baby-boomers “stealing jobs,” or are they 1)showing up on time 2)consistently 3)with tasks/projects completed on time? Do they 4)have experience and knowledge that the younger set has not yet accumulated? 5)Do they text or do Facebook all day long?
Is it considered “job-stealing” to work to pay your bills and plan your retirement? Or, are baby-boomers being “given the shaft” for being so bold as to exist?
I’m 61 and I’m gonna work until they nail the lid shut.
I guess that makes me an enemy of the people.
First one to the table gets the most.
Early bird gets the worm.
Early to bed, early to rise, makes a man healthy, wealthy, and wise.
All things come to he who waits.
The largest voting demographic, that is people who actually vote, is the seniors. As the boomers age, this demographic continues to swell. It is simple math. Boomers will own the vote for the next decade or so.
A rough look at the numbers: about 80 million born from 1945 to 1965. Add 65 years to 1945 and you get the year 2010. So, on average, 4 million boomers will reach the retirement age and the golden voting demographic of 65 years old. The deluge has begun. Results? the Me-me-me folks are going to get what they ask for; Gen X, Y & Z can go pound sand.
No—Obama’s death panels will thin the aged herd quite efficiently, thank you.
I don't think you have to worry.
http://www.patburt.com/
That’s a lot of jobs for the boomers. I didn’t know there were that many Wal-Mart greeter positions available.
I’m 61 and I’m gonna work until they nail the lid shut.
I don't think you have to worry.
http://www.patburt.com
If an employer is willing to overlook what can sometimes be a cost hit to the group health plan in hiring an older employee, and that older employee manages to get past the sometimes blatant bias directed toward them, then I’d say the older employees are regarded as the better hire.
Younger hires cost less, but are losing out. What might tjis mean, that their value is suspect despite their lower cost? I’d say yes, in general. Work ethic and ethics in general are fading, but are still present generally speaking, among the 50+ age cohort, all the negative Boomer stereotyping aside.
You can’t have something stolen from you, that never belonged to you to begin with.
And the reality is that most of us are going to do the same. The shift in the work place will be made due to those who are still working into their golden years but no longer require medical benefits because the Govmint is providing Medicare.
Strife, strife, and more strife: race, sex, class, age. Divide and conquer, eh, Mr. President Pissboy?
With that said, I will note that my generation and older valued hard work, diigence, and that you had to earn your promotions. The young now are an "entitlement generation" who embody the opposite. That may not be a popular opinion here, but as a Manager for 20 years is my observation.
FRegards...
That may be the most liberal thing I have heard on FR in several months. Congratuations. I hope your Occupy thingy is going well too.
Boomers, generally speaking, also have a better work ethic, understand and deliberately fit into corporate culture, and have less “self-esteem” and feelings of grievance and entitlement. They are past their youthful angst, and don’t feel the need to “find themselves” or express themselves. And, have much fewer tattoos.
How else would you interpret the results here? If it were Boomers that were losing their jobs and getting laid off, we’d be hearing no end to the hue and cry.
Instead it’s happening to folks like me. Yes, I think it’s great that you were able to work for 22 years. I’d love to have the same opportunities as you did, but the stark numbers here show that for many, many of us, this is not going to be possible.
I’ve worked all my life - never took a dime of unemployment benefits, or been on welfare. I’ve had to accept a lower standard of living compared with the folks who do, because I’ve been let go and the only available jobs are part time.
And, I voted for McCain too. I’m not going to vote for Romney. Romney has an opportunity to actually do something to fix the system, but, he just doesn’t care. I thought that by voting for McCain, that it would actually accomplish something - it did, it just ensured that a RINO got elected.
I’ll be supporting Virgil Goode - a pox on both of their houses.
Right, which is why you won’t even give us a chance. I have a degree, worked hard, actually paid the darn thing off. I’m really starting to get tired of looking for work and getting turned down.
Walk a mile in our shoes, and then see if you feel we’re the entitlement generation. You’ve had many, many opportunities that aren’t even going to be available for us.
Other than the brave individuals that sacrifice themselves for their country, most youngers have definite labor and responsibility issues. Their parents take care of their needs and wants so there is little to no incentive. I’d hire a 55 year old with a family to feed in a heartbeat over some idiot 22 year old with nothing more to pay for than beer and cigs.
I feel they are stealling jobs from me.
“With that said, I will note that my generation and older valued hard work, diigence, and that you had to earn your promotions. The young now are an “entitlement generation” who embody the opposite.”
As a 22 year old recent college graduate, I agree with that statement. Unfortunately that stereotype is branded onto those of us who eschew that type of behavior and we suffer for it.
“That may be the most liberal thing I have heard on FR in several months. Congratuations. I hope your Occupy thingy is going well too.”
Truth hurts. ‘Social security reform’, entails grandfathering everyone, but making sure that new hires get nothing. We’ll be paying for everything, and even if it can’t be paid for, they’ll borrow and borrow and borrow. Who cares?
You aren’t going to be around to have to pay it back...
a vote for Virgil = a vote for Obama
The “Boomers” have to work to pay for the “kids” who move back home until they’re 30 or so....
That's if you can afford the coffin.../S
I think with me they will be using a Hefty bag twisty...
Make that two votes for Obama then because I’m not voting for a republican candidate to the left of Bill Clinton either.
BTW you clowns really need to come up with a new line.
Couldn’t have said it better myself.
Thank you.
That might be a bigger part of it than we think. Many that I know that had planned to retire in the last few years are too worried to do so.
I would guess they’ve also taken quite a hit with their portfolios and aren’t in the financial shape they thought they would be in at this point in their lives.
You know, sometimes us “kids” don’t have a damn choice when there are NO JOBS for us.
Please don’t paint with a broad brush.
I am thinking that maybe the best path to a strong nation is not to divide people into groups and then pit the groups against one another: race v. race, gender v. gender, generation v. generation, religion v. religion, working v. stay at home, class v. class, etc. We seem to be going more towards tribalism and pack thinking and away from individualism and freedom.
My wife, a boomer who rarely misses a day, works with a number of young women. They take a day off for a hangnail. Then, when someone else takes a day off, they complain about always having to fill in for them. Of course, they are libs.
I am thinking that maybe the best path to a strong nation is not to divide people into groups and then pit the groups against one another: race v. race, gender v. gender, generation v. generation, religion v. religion, working v. stay at home, class v. class, etc. We seem to be going more towards tribalism and pack thinking and away from individualism and freedom.
Why change a line when it’s short, sweet, and to the point?
BTW, do you find that name-calling like a middle-schooler causes people to take you seriously?
I took the approach of not being greedy, and am retiring early, and your saying I am not giving a chance? I am leaving so a younger person can have the opportunity. How hypocritical is that?
I absolutly stand by my claim that yours is the "entitlement generation". Very few of these kids want to pay their dues, wanting promotions and opportunites, for no reasons. In my early days, working 50-70 hours was the rule to help get ahead. The young now value their down time too much to put in that effort. And when I do have them work OT, it is with displeasure. Lastly, the quality of work has seems to be less for the younger workforce. I have seen college graduates who almost appear illiterate, but want to be the next supervisor.
If you want another 50 examples Freepmail me I will bend your ear like no other.
Agreed however there is a strong hatred of young people on FR.
The young are going to be the caretakers of this nation soon. Ever think that the older generation should be teaching the younger generation instead of despising and ignoring us?
Just a thought and this is not directed at you personally but rather FR in general.
If there is any division in the ranks, it shouldn't be boomers vs. younger workers but private sector workers who have lost their jobs due to the massive tax and regulatory structures required to feed and expand the porcine Federal and state bureaucracies vs. the beneficiaries of all of that government largesse.
That’s a good point, too. I know a heckuva lot of them who’ve been forced into raising their grandkids/great-grandkids because the parents are losers, addicts, drunks, or all of the above.
I agree however not all of us are represented by that group.
Please don’t paint with a broad brush.
Who's fault is that ultimately?
I retired at 61 as the auto industry imploded in late 08.
That was definitely earlier than I had planned to leave but I’m enjoying it immensely. I think we emphasize finances too much vs the other things you get to enjoy, the gift of low stress, lots of time to do things you enjoy, etc. Things that don’t have to be expensive.
As for the “under 30” crowd, we shouldn’t paint them with too broad a brush. I hang out at an auto service shop that employs about 10 guys, most of them 25 to 35 age bracket and they all work darn hard.
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