Where The Jobs Are: "55 And Older"

Zero Hedge ^ | 01/04/2013 | Tyler Durden

[SeekAndFind]

A good jobs report? Sure, if one is 55 and over. In December the American jobs gerontocracy continued its relentless course, and as the two charts below summarize since Obama's first term, some 2.7 million jobs in the 16-55 year old category have been lost. The "offset": 4 million jobs for Americans between 55 and 69. For all those young people graduating from college (with $150,000 in student loans) who are unable to get a job, here is our advice: tell your parents, and grandparents, to retire already. Oh wait, they can't because Bernanke destroyed their savings. Oops - better luck next time.

Job "gains" for all Americans 54 and younger vs those 55 and older:

And the same broken down by segment:

Source: BLS

[AFPhys]

This is a rather surprising graphic for me. There are so many who are “retiring” early, I don’t quite understand who is taking these jobs ... perhaps there are many in the 55+ group who have taken 2+ jobs to replace their previously good-paying single job of the Bush years.

[WKUHilltopper]

“...tell your parents, and grandparents, to retire already”

Maybe the younger generation is better served maturing, rather than spending time watching cartoons and playing video games. Most of them are amazingly emotionally immature.

I won’t hire a department head younger than 35. Seriously. There’s always exceptions (very, very few), but I haven’t seen too many who have the emotional maturity to handle leadership.

[tbw2]

There is also the simple demographics of the gray-wave, Baby Boomers who keep on working and do not retire. Employers have a few good reasons to keep middle-aged (50-70) women: no maternity benefits, few sexism lawsuits, few health problems, unlikely to be in a caregiver role and drop everything to take care of a sick kid, lots of work experience, works in a job where physical strength doesn’t matter like the office.

[SeekAndFind]

The writer’s explanation is many of these retire-able workers have chosen to stay on because they can’t afford to retire.

Their 401K’s have been devastated by the market downturn and they can’t live off the puny interest they get from their savings.

[tbw2]

Agreed. Being the center of the universe as a child and self-esteem BS to say you’re perfect and entitled results in people who cannot handle “No”, negotiate or, in many cases, serve as entry level employees told what to do.

[shelterguy]

“”””A good jobs report? Sure, if one is 55 and over”””
Yeah, but not everyone in that age group is excited about their part time job at Home Depot.

[Gen.Blather]

I think you’ll find that the older population is taking mundane bag-boy type jobs. They’re not working as engineers anymore. Every company I’ve worked for has had a mandatory retirement age. They’re working because their “retirement” assuming they have any, won’t cover their expenses. There are now a huge number of part time positions available because Obamacare had caused companies to limit time worked to 28 hours.

[Buckeye McFrog]

Makes sense to me. Hiring people who qualify for Medicare gets you off the hook on the Obamacare mandates.

[SueRae]

I didn’t realize that. Good point.

[who knows what evil?]

Another reason to hire older workers...work ethic and reliability.

[dljordan]

“Maybe the younger generation is better served maturing, rather than spending time watching cartoons and playing video games. Most of them are amazingly emotionally immature.”

We just hired a 20 something with a Graphic Arts degree to help with the paperwork. He has never worked in his profession and was pushing a delivery cart around our building. He lives with his parents and seems to spend all his time playing online video games. He has done nothing but whine since he came in the office about how things weren’t ‘set up’ for him when he got here. It seems he’s bitching about having to do things for himself. He’s also amazingly out of shape for someone so young.

[matginzac]

I live out in the country so most of my shopping is done on line...
My UPS guy and FedEx guy are both way over 55... Should be retired but as one said, “...gotta eat!”.
Not too long ago, the FedEx guy was delivering and introduced me to his in uniform ride-along,......Mohamad...hmmmm....

[Morris70]

Wallyworld

[SargeK]

Yep, that’d be me. If there was some sort of return on savings and investments, I’d go fishing tomorrow, but since there is not, I keep slaving at it, 70+ hours a week.

Sorry young’uns. Uncle Ben moved my cheese.

[CIDKauf]

Spot on. I think younger workers think they to be paid more for less work, and are entitled to it. I’ve always felt that your boss can’t give you a raise until he makes the money that he is going to need to pay you more.

[WKUHilltopper]

“We just hired a 20 something with a Graphic Arts degree to help with the paperwork. He has never worked in his profession and was pushing a delivery cart around our building. He lives with his parents and seems to spend all his time playing online video games. He has done nothing but whine since he came in the office about how things weren’t ‘set up’ for him when he got here. It seems he’s bitching about having to do things for himself. He’s also amazingly out of shape for someone so young.”

The “self proclaimed” entitled and “every one gets a trophy” generation. It is obvious this guy should automatically move up to a VP level, because I’m sure he really, really, really, really believes he can do it and it will come true (that’s the nonsense the teach in school)!

You don’t have to prepare yourself, work hard, accept current conditions without complaint-—just really, really, really believe! Because “you’re special”! Entitled just because you exist!

It’s good we have a bumper crop of these people. Because if the balloon goes up and we’re really headed for a collapse, the mobs will go after the weak, undiscerning and incapable dimwits first—allowing us more time for preparation.

[who knows what evil?]

‘Entitled’...there’s the key word. If I need help when I am out shopping; I make a bee-line for the older employees...they don’t act like I am ‘bothering them’, and they are usually informed about the item I am seeking...if not; they will find someone that is. I always remark about how pleasant it is to deal with them, as opposed to their younger ‘counterparts’. Sometimes I pass that on to management...

[oh8eleven]

There is also the simple demographics of the gray-wave, Baby Boomers who keep on working and do not retire.
Keep in mind, the leading edge of boomers is just now hitting 65 y/o.
Many are still working to get their 401k accounts back to where they were before the market tanked.

[JCBreckenridge]

I remember when Boomers used to say “don’t trust anyone under 35”.

Time change and so do boomers.