Are Baby Boomers Stealing Jobs from the Young? (Part 1)

Townhall.com ^ | May 12, 2012 | Political Calculations

[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:

1. The seasonally-adjusted level of total employment for the U.S. economy hit its all time peak in November 2007, just ahead of the Great Recession. Going back to November 2006 will allow us to capture the last full year of economic expansion for the U.S. economy.
2. Coincidentally, the seasonally-adjusted number of teens (Age 16-19), who represent the lowest end of the age groups for which the BLS reports monthly jobs data, and is also the most negatively affected group over this period of time, last peaked in November 2006. Going back to this point in time will also fully capture what has happened with teen employment in the years since.
3. The BLS breaks almost all of its age-related jobs data into five-year long cohorts, covering groupings like Age 20 to 24, Age 25 to 29, Age 30 to 34, et cetera. Going back to November 2006 will allow us to see how the employment situation for the same people whose employment was recorded in one of the age groups in November 2006 changed after they all moved up into the next higher age cohort in November 2011.

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!

[Kaslin]

Did you notice the signup date?

JCBreckenridge
Since Mar 10, 2012

[dfwgator]

"They took our jerbs."

[Kaslin]

Walmart has done away with their greeters

[Black_Shark]

Burke,

It is very hard to get ahead in this world when no one will give you your first shot. Let’s take a basic example: Jeremy Lin. He was cut from team after team, no one wanted him and wouldn’t give him a shot but he continued to practice and hone his skills until finally someone gave him a shot and he proved that he could produce. If no one had given him that first shot, he never would have been able to SHOW he could produce even though he KNEW he could.

It’s similar to my position in that I know I can perform in an entry level job but no one wants to give me that first shot. It seems Breck is in a similar position.

We can’t help the economy we’re given my friend.

[Cringing Negativism Network]

China took our jobs.

Because it profited a few, to give the jobs America once did, to communists.

[Black_Shark]

I just received a B.S. in Economics (graduated with Honors from one of the best statistics/math schools in the country) and have taken Calc, Diff Eq, Linear Algebra, Econometrics, Statistics, etc. and I am also having extreme trouble finding a job.

I may be going back and obtaining a Masters in Econ with a Master’s Minor in Stats along with classes such as Real Analysis, some more Diff Eq, etc.

The economy is rough for everyone not just the Liberal Arts people (Even though they have it much worse)

[Cringing Negativism Network]

Stop studying.

Go to work.

Just saying. Everyone else does.

Welcome to reality. Stop procrastinating.

Get out there. DO WHAT YOU HAVE TRAINED TO DO.

It will be a shock, at first. No weekend frat parties.

No co-ed dorms.

But the pay is a (lot) better.

[Nik Naym]

“a vote for Virgil = a vote for Obama”

On every thread, on any subject, there is always some Romneybot who thinks a vote for anybody but THEIR guy is a vote for Obama.

It is getting tiring.

And it makes you look stupid too.

Try this: A vote for Obama is a vote for Obama. A vote for anybody else is Not a vote for Obama.

[Cringing Negativism Network]

Re: your post.

OBAMA IS A COMMUNIST, AND HE SUCKS.

Any questions?

[Chode]

if you haven't found a job there in 12 years, there's really only one answer... move

it sucks and it'll hard, but are you gonna stay there another 12 years???

[Black_Shark]

I JUST GRADUATED TODAY.

I HAVE BEEN INTERVIEWING FOR A YEAR NOW.

I never partied, too busy studying because I was taking more math than engineering majors do.

Thanks for the advice, I’ll be sure to take that into account.

[Cringing Negativism Network]

Ok you’ve got the attitude down pretty well.

How about you stop finding reasons you’re not getting a job offer, and start putting together a very deliberately crafted case as to why the hiring manager should be interesting in hiring you.

What can you do, they would pay you for?

[Nik Naym]

“OBAMA IS A COMMUNIST, AND HE SUCKS.

Any questions?”

No questions. I agree.

But what does that have to do with what I said?

[Cringing Negativism Network]

I happen to believe Romney is not a communist.

Thanks for asking.

[Black_Shark]

I give up.

You’re obviously to lazy to go back and read the multitude of posts that state my training.

Have a good day sir and stay the hell out of my life and posts.

[ilovesarah2012]

I did notice.

[bfree]

You sure sound like a liberal democrap. Boomers aren’t stealing from you, heck they created the opportunities you have. I think your generation is the lazy group stealing from the rest of us. You want what others have earned and want a standard of living you haven’t earned. Just like a dumbocrap.

You are either an Axelrod/obami troll or just a whiner. Either way, I don’t think a conservative site is a place for you.

[bfree]

You and JC Breck sound the same. If you possess skills not in demand, then it is your problem, not employers problem. Blame obami, did you vote for an anti business marxist? Sounds like it.

[cherry]

no one is "stealing" jobs....we're retaining our jobs.....and a lot of us don't have glorious jobs nor pensions...a lot of us lost money during the Soros/bamey financial collapse....we have to work....

not to mention, a lot of us are helping our adult kids with their bills....