Young Vs Old: A Tale Of Two US Job Markets

Zero Hedge ^ | 04/05/2013 | Tyler Durden

[SeekAndFind]

Because we have discussed the issue of the age-bifurcated US jobs market extensively before, we are delighted to not have to say much if anything this time around, as absolutely everything is still the same. Since the arrival of Obama, the US workforce has been effectively split into two separate job markets: those 54 and younger (condolences) and those 55 and older.

Specifically, since January 2009, the number of jobs created has been focused solely on the gerontocratic component of the US labor pool, those aged 55 to 69 (or more - gray line below), and who can no longer afford to retire as expected thanks to Bernanke's genocidal ZIRP policies which have made a mockery of savings. These older workers have seen a grand total of 4.02 million cumulative jobs created. Everyone else (or those 54 and younger - red line below)? A grand total of 2.8 million jobs lost, and now deteriorating once more, with those in the prime work demographic of 25-54 having lost the most jobs, 2.2 million, since the coming of Obama.

Jobs: young vs old:

And more granular, broken down by age group.

[Vigilanteman]

. . . with those in the prime work demographic of 25-54 having lost the most jobs, 2.2 million, since the coming of Obama.

And they still voted 2-1 for the Jackwagon.

[OrangeHoof]

Not sure where I fit in that graphic. I was below 55 when I was laid off from my employer of 19 years back in 2010. I am over 55 now and underemployed. I am still looking and finding it tough to find interested parties which I think is partly due to my age. I suspect if there is any surge in hiring for those over 55 it is because they do not have mommy and daddy to help them out so they HAVE to take a job no matter what it pays.

[who knows what evil?]

People OVER 50 have a much better work ethic, and many businesses are starting to realize it...

[JCBreckenridge]

Right, like their boomer parents who did the same. :)

[JCBreckenridge]

Oh that didn’t take long.

Yeah, it’s all because the young folks have no ‘work ethic’, that they are out of work.

Could I not say that your present unemployment is because you have no work ethic either?

[OrangeHoof]

Either you intended that for the wrong person or you failed to recognize that I am underemployed, not unemployed. But I was unemployed for some time and people DO question your work ethic just because you aren’t working.

Nothing personal. When there are no parents alive to bail somebody out, they get more desperate to take whatever job they can get.

[JCBreckenridge]

I’m just saying - you lost your job. Someone could come around and say that you lost your job because you didn’t work hard enough.

Is that different from someone who applies for work and doesn’t get it?

Let’s get real here - the economy is terrible. There aren’t many opportunities for young people. Blaming young people for ‘being lazy’, is a great way to show young people that conservatives just aren’t getting it.

[WinMod70]

bifurcated - Not a word one sees everyday.

[LumberJack53213]

Over 50 and unemployed? Start your own business, at this point in like why work for anyone?

[LibertarianLiz]

And they still voted 2-1 for the Jackwagon.

My 25 year old did not vote for Zero. She is now residing in Japan where she is beginning her third year of teaching English. I knew when he won re-election that I wouldn't be seeing her back here for at least another 4 years, probably longer. These charts simply confirm my opinion.

[Joe Brower]

"People OVER 50 have a much better work ethic, and many businesses are starting to realize it..."

Bingo. Too often nowadays you hire a teenager or twenty-something to man the register, and they hang over the counter playing with their smartphone, all the while ignorning the customers.

"Older people know how to work", is how one friend of mine who owns a retail store put it.

[WashingtonSource]

Bump

[OrangeHoof]

But *I* never said they were lazy. All I am saying is that when you have the security blanket of moving back in with your parents (95% aren’t going to refuse) if all else fails, there is less incentive to take any job you can get. When your parents are in the ground or incapacitated like many age 50+ workers are, the more willing you are to be a greeter at Wal-Mart or work the overnight shift at Burger King.

Never said anything at all about laziness. That is totally your fiction.

[Vigilanteman]

No sale. The majority of boomers voted for Ronald Reagan after four years of Jimmy Carter.

[Vigilanteman]

Good for your daughter. None of my three did either.

She'll love Japan. We moved there when my oldest was 3 and came back when my youngest was 13, nearly 14 years in total. As a result of their public education there, all three share their parents love of the America we all once knew rather than the NEA version.

I knew one guy there who went to Japan as an English teacher and ended up starting a multi-million dollar business importing food from the United States for foreign residents. Word got around and soon a lot of Japanese who had lived abroad were customers as well. Yeah, a case of root beer cost about 25% more than in the U.S. once you paid the costs to get it to Japan, but it was still about half the price of what it would have cost you to buy it in a local specialty store . . . if you even had one.

I managed to miss the entire Clinton Administration while we were in Japan. If I was about your daughter's age, I'd do it again to miss Zero's misrule.