Posted on 11/14/2021 7:56:38 AM PST by millenial4freedom
Reports of labor shortages may not end anytime soon because a hefty number of retirement age workers have left the labor force - and a whole lot of them may not be coming back.
A Friday note from Goldman Sachs researchers led by Jan Hatzius finds that 3.4 million of the people who left the labor force - meaning they're not working or aren't actively looking for work - are over 55. Roughly 1.5 million of them were early retirements, and 1 million were normal retirements. Those two groups of retirements "likely won't reverse," meaning that, out of the five million workers Goldman estimates are still missing from the labor force, about half may not ever return.
(Excerpt) Read more at yahoo.com ...
“A few years of Bidenflation should wipe out their savings and drive them back to work. Maybe jack up Social Security age to 70 to help them make that decision. Work! Work! You have a lot of people on welfare to support.”
yep ... work poor ol’ Boxer to death and secretly spirit his carcass away to the knackers during the night to squeeze the very last cent out of him ...
“And this is a bad thing? Because?”
For Goldman and the elites, this is a great thing. It justifies bringing in millions of “migrants” as a desperately needed workforce replacement.
“Life is good when you get the people who hate you out of your life.”
or even having to deal with the plethora of obstructive morons in even a decent job ...
when i retired, i was financially well-off enough that i vowed never to have dealings with ignorant morons again ...
life is too short and getting shorter, and my job isn’t to “cure” ignorant morons anyway, and even if it was, ignorant morons VASTLY outnumber the rest, so any attempt is futile an futility is a waste of time ...
It is absolutely amazing how that works at every level/phase of our lives.
Going to be lots of problems needing to be solved and not very many problem solvers in the near future
Thanks.
Anyone over 55 has ageism working against them.
Employers usually don’t want to hire older workers because of the health care costs and they figure that they won’t be around very long anyway.
So many of them have decided to retire and do other things with their life.
Well, maybe this is a silver lining for my generation—I’m Gen X, and all of my direct reports and my management above me are older than me—and I’m in my 50s! The majority are in their 70s, still working. And my children—Gen Y and Gen Z—can perhaps benefit as well. Time for some “succession planning” maybe.
“There is a small herd of them, who will be pulling the full time plug now or at the end of the year. Many more will be making that move in the next few years as their last kids finish college or trade schools.”
That brings to mind what that ignorant fool Obama said: “There’s only so much you can eat. There’s only so big a house you can have. There’s only so many nice trips you can take. I mean, it’s enough.”
What that moron didn’t understand is that folks who work hard to increase their own income are also generally creating wealth for the country as a whole through their work effort ... remove enough productive folks from the economy because “they’ve got enough”, then they truly are no longer creating additional wealth for the country as a whole, but instead truly become little more than passive consumers.
Who is going to replace the boomers?
I see many retired people living in tents along side freeways in California. These people retired in their 20s and 30s because the government has made it so easy to live a bum’s existence. There are YouTube videos of them in Kensington part of Philadelphia where they hang out doing what I call the Fentenyl Dance where they look like they are trying to crap in their pants.
https://youtu.be/HRqQ6-ANjL4
Going...going...Galt!!!
Now if we can convince businesses to stop arbitrarily setting wages and learn to pay market wages for labor all would be fine.
“Young white couples have decided with ‘money for children Biden plan’ that white wives can stay home and have kids too.”
How many wives with children want to stay home all the time with their children? I don’t know but a lot of them get an “education” and can get a nice job and make money and keep from being bored, and can think of themselves as not dependent on the husband in case of oopsy daisy.
Please stop. Don't give them any ideas.
They didn’t call it “the baby boom” for nothing!
Controlling and tapping into that underground economy you speak of is exactly why Biden is seeking to hire 87,000 new IRS agents.
Our home is just under 3000 square feet. It did a great job of providing shelter to our family and other kids that adopted us.
We love our area and have great neighbors and decided to be carried out of here, feet first. So we had ramps, a walking shower and other old people stuff installed in and out of our home.
About 7 years ago, we did a full retro re new roof, paint jobs in and out. Our engineer son coordinated a plan with the guy, who installed our 2 new heating/AC systems. We had new insulation installed from the floors up to the ceilings.
We had two heating/cooling systems installed. One for where we live 24/7, about 1200 square feet, and one for the rest of our home with a thermostat for each area. The bigger one in the fall, winter and spring stays at 62 degrees unless we have company.
Our main area has a Nest thermostat is programmable with our cell phones or the wall switch. We keep it at about 68 in the daytime and 62-65 at night. The air filters are high rate and washable. Our window washer every 4 months, washes them and changes the filters, when he does the windows.
Our PG&E bill is about 1/3 of our neighbors’ with smaller homes under one system and one thermostat. Many of our neighbors have old and inefficient systems. Their PG&E bills are double or triple ours.
I plan to retire in a year at age 71.
Primarily because of these vaccine mandates and mask mandates.
I can well afford to retire. But I like working.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.