Skip to comments.Obama's Economy: Where Did All The Young Workers Go?
Posted on 06/18/2014 5:18:01 AM PDT by SeekAndFind
Economists are scratching their heads trying to figure out a puzzle in this recovery: Why are young people not working? People retiring at age 60 or even 55 in a weak economy is easy to understand. But at 25?
The percentage of adult Americans who are working or looking for work now stands at 62.8%, a 36-year low and down more than 3 percentage points since late 2007, according to the Labor Department's May employment report.
This is fairly well-known. What isn't so well-known is that a major reason for the decline is that fewer and fewer young people are holding jobs. This exit from the workforce by the young is counter to the conventional wisdom or the Obama administration's official line.
The White House claims the workforce is contracting because more baby boomers are retiring. There's some truth to that. About 10,000 boomers retire every day of the workweek, so that's clearly depressing the labor market. Since 2009, 7 million Americans have reached official retirement age. The problem will get worse in the years to come as nearly 80 million boomers hit age 65.
But that trend tells only part of the story.
(Excerpt) Read more at news.investors.com ...
Their mothers’ basements.
Yep. This is the story of the labor market.
I would suggest they are working in the underground economy
yeah these days the word “retired” has a new meaning of “would work if I could find a job but no one wants me”
I would blame Romney for the slow learning. The least he could have said after his loss? ‘Good luck getting a job.’
26 year old “children” on their parent’s health insurance plans, kind of de-incentivises them to work on the books. Stay at home, or in school, and get freebies from SNAP, etc.
Here at my workplace, we get a lot of temporary workers from time to time. I’ve been here for fourteen years, and it seems that the latest batch of them have no drive, determination or desire to do the best that they can. There’s been a few exceptions -one of which we’re working hard to make a permanent employee out of. He’s earned it.
But just last week, we fired a temp. He’d never answer his radio, go slow as possible, and disappear for hours at a time.
He was in the Navy, too. Young guy -just got out. Air Department on a landlubbing station out East.
That chart makes me want to cry, or fight, maybe both.
The young got what they voted for - freebies in Mommy’s basement. I hope they wise up while there is still time.
Holed up in there Moms’ basements playing on-line video games?
They get depressed because they cant find work and then go on disability for depression.. .
Why is anyone surprised? Why? 80+ years of the Welfare State, combined with Comrade Obama's mad rush to Socialism, has taught young people that its OK to sit on your ass and do nothing and collect a government check. And for the few young people who have a work ethic, the economy is so miserable, and hiring new workers is so expensive and risky for employers, that they can't get hired.
1 in 6 American Men Between Ages 25-54 Are Not Working.
The ratio of those over 55 in the workforce actually ticked up’in other words, older Americans are being forced to return to work in a poor economy to make ends meet
Between the first quarter of 2000 and the first quarter of 2013, the native-born population accounted for two-thirds of overall growth in the working-age population (16 to 65), but none of the net growth in employment among the working-age has gone to natives.
The overall size of the working-age native-born population increased by 16.4 million from 2000 to 2013, yet the number of natives actually holding a job was 1.3 million lower in 2013 than 2000.
The total number of working-age immigrants (legal and illegal) increased 8.8 million and the number working rose 5.3 million between 2000 and 2013.
Even before the recession, when the economy was expanding (2000 to 2007), 60 percent of the net increase in employment among the working-age went to immigrants, even though they accounted for just 38 percent of population growth among the working-age population.
Right. Young workers and illegals aliens typically vie for the same min wage jobs.
That ain’t all they’re playing with.
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