Skip to comments.Are Baby Boomers Stealing Jobs from the Young? (Part 1)
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.
That’s a lot of jobs for the boomers. I didn’t know there were that many Wal-Mart greeter positions available.
Im 61 and Im gonna work until they nail the lid shut.
I don't think you have to worry.
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.
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