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Goldman just figured out why the labor shortage will last for a long time: 60% of the missing workers retired, many for good
Yahoo! News ^ | 11/12/2021 | Juliana Kaplan, Madison Hoff

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 ...


TOPICS: Business/Economy; Chit/Chat; Miscellaneous
KEYWORDS: economy; goldmansachs; janhatzius; jobs
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To: KarlInOhio

“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 ...


41 posted on 11/14/2021 8:55:27 AM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Steven Scharf

“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.


42 posted on 11/14/2021 8:56:30 AM PST by Cincinnatus.45-70 (What do DemocRats enjoy more than a truckload of dead babies? Unloading them with a pitchfork!)
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To: cgbg

“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 ...


43 posted on 11/14/2021 9:02:36 AM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: cgbg
Life is good when you get the people, who hate you out of your life.

It is absolutely amazing how that works at every level/phase of our lives.

44 posted on 11/14/2021 9:08:26 AM PST by Grampa Dave (Ramp it up!: Reclaim America Movement Party! (RAMP!!!!!)
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To: ClearCase_guy

Going to be lots of problems needing to be solved and not very many problem solvers in the near future


45 posted on 11/14/2021 9:08:27 AM PST by rdcbn1
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To: cgbg

Thanks.


46 posted on 11/14/2021 9:08:31 AM PST by PUGACHEV
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To: millenial4freedom

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.


47 posted on 11/14/2021 9:09:59 AM PST by crusher2013
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To: millenial4freedom

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.


48 posted on 11/14/2021 9:12:09 AM PST by olivia3boys
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To: Grampa Dave

“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.


49 posted on 11/14/2021 9:13:48 AM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: millenial4freedom

Who is going to replace the boomers?


50 posted on 11/14/2021 9:18:07 AM PST by Fido969 (45 is Superman!)
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To: millenial4freedom

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


51 posted on 11/14/2021 9:20:20 AM PST by willk
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Comment #52 Removed by Moderator

To: millenial4freedom

Going...going...Galt!!!


53 posted on 11/14/2021 9:31:19 AM PST by joma89 (Buy weapons and ammo, folks, and have the will to use them.)
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To: millenial4freedom

Now if we can convince businesses to stop arbitrarily setting wages and learn to pay market wages for labor all would be fine.


54 posted on 11/14/2021 9:34:50 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: GOPJ

“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.


55 posted on 11/14/2021 9:37:39 AM PST by cymbeline
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To: Cincinnatus.45-70
For Goldman and the elites, this is a great thing. It justifies bringing in millions of “migrants” as a desperately needed workforce replacement.

Please stop. Don't give them any ideas.

56 posted on 11/14/2021 9:37:56 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: millenial4freedom

They didn’t call it “the baby boom” for nothing!


57 posted on 11/14/2021 10:11:04 AM PST by keats5
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To: Gen.Blather

Controlling and tapping into that underground economy you speak of is exactly why Biden is seeking to hire 87,000 new IRS agents.


58 posted on 11/14/2021 10:11:26 AM PST by Roccus (Prima di ogni altra cosa, siati armati!th)
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To: catnipman

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.


59 posted on 11/14/2021 10:16:38 AM PST by Grampa Dave (Ramp it up!: Reclaim America Movement Party! (RAMP!!!!!)
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To: millenial4freedom

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.


60 posted on 11/14/2021 10:17:32 AM PST by gitmo (If your theology doesn't become your biography, what good is it?)
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