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Obama's Economy: Where Did All The Young Workers Go?
IBD ^ | 06/18/2014 | Stephen Moore

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 ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: jobs; unemployment; youth
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1 posted on 06/18/2014 5:18:02 AM PDT by SeekAndFind
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To: SeekAndFind

2 posted on 06/18/2014 5:18:37 AM PDT by SeekAndFind
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To: SeekAndFind

Their mothers’ basements.


3 posted on 06/18/2014 5:19:26 AM PDT by ilovesarah2012
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To: SeekAndFind

Yep. This is the story of the labor market.


4 posted on 06/18/2014 5:19:49 AM PDT by Wyatt's Torch
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To: SeekAndFind

I would suggest they are working in the underground economy


5 posted on 06/18/2014 5:21:50 AM PDT by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: SeekAndFind

yeah these days the word “retired” has a new meaning of “would work if I could find a job but no one wants me”


6 posted on 06/18/2014 5:24:38 AM PDT by yldstrk ( My heroes have always been cowboys)
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To: bert

I would blame Romney for the slow learning. The least he could have said after his loss? ‘Good luck getting a job.’


7 posted on 06/18/2014 5:24:56 AM PDT by DIRTYSECRET (urope. Why do they put up with this.)
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To: SeekAndFind

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.


8 posted on 06/18/2014 5:29:12 AM PDT by jacknhoo (Luke 12:51. Think ye, that I am come to give peace on earth? I tell you, no; but separation.)
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To: SeekAndFind

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.
Sad situation.


9 posted on 06/18/2014 5:29:37 AM PDT by RandallFlagg (Uninstall Fascist Firefox. Get Pale Moon.)
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To: SeekAndFind

That chart makes me want to cry, or fight, maybe both.


10 posted on 06/18/2014 5:32:27 AM PDT by OldMissileer
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To: SeekAndFind

Two words

Illegal Aliens


11 posted on 06/18/2014 5:34:13 AM PDT by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: SeekAndFind

The young got what they voted for - freebies in Mommy’s basement. I hope they wise up while there is still time.


12 posted on 06/18/2014 5:35:22 AM PDT by Pollster1 ("Shall not be infringed" is unambiguous.)
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To: SeekAndFind

Holed up in there Moms’ basements playing on-line video games?


13 posted on 06/18/2014 5:35:27 AM PDT by WayneS (Don't blame me, I voted for Kodos.)
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To: SeekAndFind

They get depressed because they cant find work and then go on disability for depression.. .


14 posted on 06/18/2014 5:37:20 AM PDT by ▀udda▀udd (>> F U B O << "What the hell kind of country is this if I can only hate a man if he's white?")
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To: SeekAndFind
People retiring at age 60 or even 55 in a weak economy is easy to understand. But at 25?

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.

15 posted on 06/18/2014 5:37:42 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: SeekAndFind

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

http://www.freerepublic.com/focus/f-news/3161815/posts


16 posted on 06/18/2014 5:38:01 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: SeekAndFind
When you take in 1.1 million legal permanent immigrants a year and 650,000 guest workers annually, even during recessions, you don't have to be a rocket scientist to figure out why the labor participation rate is declining. We don't have a shortage of labor, we have a shortage of jobs.

Immigrant Gains and Native Losses In the Job Market, 2000 to 2013

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.


17 posted on 06/18/2014 5:38:28 AM PDT by kabar
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To: P-Marlowe
LEGAL AND ILLEGAL ALIENS
18 posted on 06/18/2014 5:39:28 AM PDT by kabar
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To: P-Marlowe
Two words Illegal Aliens

Right. Young workers and illegals aliens typically vie for the same min wage jobs.

19 posted on 06/18/2014 5:41:55 AM PDT by skeeter
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To: WayneS

That ain’t all they’re playing with.


20 posted on 06/18/2014 5:43:46 AM PDT by certrtwngnut
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To: P-Marlowe

Lets all contemplate these figures while the GOP, Democrats and Chamber of Commerce finally ‘reform’ immigration.


21 posted on 06/18/2014 5:44:02 AM PDT by skeeter
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To: SeekAndFind

Also, for the first time IN AMERICAN HISTORY, more companies have died than have been created. [Brookings Institution, May 5, 2014]. America is being dismantled our leadership.


22 posted on 06/18/2014 5:44:47 AM PDT by SC_Pete
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To: SeekAndFind

Exited the workforce? How about never even entered it in a significant way due to lack of jobs, laziness, incarceration, or permanent scholarship racking up student loans that Barry will forgive? Hard to imagine that 30-40 years ago people were getting married at 21.


23 posted on 06/18/2014 5:46:20 AM PDT by informavoracious (Open your eyes, people!)
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To: george76

...and to support their adult ‘children’.


24 posted on 06/18/2014 5:46:32 AM PDT by WayneS (Don't blame me, I voted for Kodos.)
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To: bert

They don’t want the work that’s available because they’re spoiled and feel that entry-level work or “real” work is beneath them.


25 posted on 06/18/2014 5:50:55 AM PDT by Buckeye McFrog
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To: SeekAndFind

They are in mommy’s basements posting at the DUmp.


26 posted on 06/18/2014 5:51:33 AM PDT by Arrowhead1952 (The Second Amendment is NOT about the right to hunt. It IS a right to shoot tyrants.)
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To: RandallFlagg
it seems that the latest batch of them have no drive, determination or desire to do the best that they can.
I see a lot of teens going through training in our local grocery stores and then they just seem to disappear.
I asked a manager and he said most quit because they're too tired to work in the morning; too tired to work after school;
too tired to work in the evening; too "busy" to work on weekends; and too tired to do the job right even when they do make it in.
Bottom line - they just want things handed to them.
27 posted on 06/18/2014 5:51:40 AM PDT by oh8eleven (RVN '67-'68)
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To: skeeter
Illegal aliens not only compete for minimum wage jobs, but they are filling up all the positions for all fields of manual labor such as construction, auto repair, landscaping, plumbing, carpentry, machine operating, metal work....

Most of my friends from high school who didn't go to college went directly into these fields and did well. Now the fields are filled with low wage but experienced illegal aliens who have driven the base wages for these professions down so low that it is pretty much impossible for young people to make a career out of these jobs.

And what is amazing is that the Unions support bringing in these illegal aliens. It proves that their goal is not better working conditions for their workers, but power and money through numbers.

28 posted on 06/18/2014 5:51:41 AM PDT by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: SeekAndFind

I seen a boy of about 14 or 15 the other day working at chick fil a and thought wow, did he beat the odds or what?

So sad, hardly any opportunity for today’s youth to learn the value of work, but that’s what the state wants, dependency.


29 posted on 06/18/2014 5:51:43 AM PDT by 12th_Monkey (One man one vote is a big fail, when the "one" man is an idiot.)
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To: SeekAndFind

Raise the minimum wage to ~ $50 per hour?

Is this why businesses keep crying for more immigrants?


30 posted on 06/18/2014 5:54:46 AM PDT by sickoflibs (King Obama : 'The debate is over. The time for talk is over. Just follow my commands you serfs""')
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To: ilovesarah2012

Well...you gotta admit that there are a hell of a lot of them that are partaking of government subsidized learning.

Millions in student loans they are now hearing they’ll likely not have to pay back. Millions in educational profession learning for which they will never hold a paying job. Millions in subsidized leisure that can continue (yes, from their parents’ basements) for years and years to come.


31 posted on 06/18/2014 5:55:01 AM PDT by Gaffer
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To: sickoflibs

Typical business attitude thinking cheap illegal labor will go on forever, even if they are legalized. Far from it.


32 posted on 06/18/2014 5:55:57 AM PDT by Gaffer
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To: skeeter
Legal immigrants are also vying for the same minimum wage jobs. 20% of legal immigrants lack even a high school diploma and another 24% have only completed high school. They are competing with the 40 percent of the native born who have a high school degree or less.

In the fourth quarter of 2013, the standard unemployment rate (referred to as U-3) for native-born adults who have not completed high school was 16.6 percent, while for those with only a high school education it was 8.5. The U-3 unemployed are people who have looked for a job in the last four weeks.

The broader U-6 measure of unemployment — which includes those want to work, but have not looked recently, and those forced to work part-time — was 28.7 percent for native-born adults who have not completed high school and 16.5 percent for those with only a high school education.

The total number of native-born, working-age adults (18 to 65) of any education level not working (unemployed or out the labor force) was 50.5 million in the fourth quarter of 2012 — 8.8 million more than in the fourth quarter of 2007, and 14.7 million more than in the same quarter of 2000.


33 posted on 06/18/2014 5:56:53 AM PDT by kabar
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To: WayneS

Lucky bastards. And to think I have to go to work..


34 posted on 06/18/2014 5:57:17 AM PDT by When do we get liberated? (A socialist is a communist who realizes he must suck at the tit of Capitalism.)
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To: SeekAndFind
There's no mystery why this is happening. It's all going according to plan.

Not enough jobs in an enviro-nazi, Socialist, anti-Capitalist Obamaconomy. Now you can only survive with help from the government. Better not bite the hand that feeds you.

35 posted on 06/18/2014 5:58:16 AM PDT by PATRIOT1876
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To: SeekAndFind

Do you think this has anything to do with the situation?

Betty Sutton on Tuesday, October 25th, 2011 in a speech in the House of Representatives

“The data shows there were 398,887 private manufacturing establishments of all sizes in the United States during the first quarter of 2001. By the end of 2010, the number declined to 342,647, a loss of 56,190 facilities. Over 10 years, that works out to an average yearly loss of 5,619 factories. Dividing that by the 365 days in a year produces a 15.39 average daily number of factories lost.”

http://www.politifact.com/ohio/statements/2011/nov/07/betty-sutton/betty-sutton-says-average-15-us-factories-close-ea/

I’d post this graph of the US labor participation rate, but I don’t know how. It suggest the jobs are not there. I read a headline last week that we had recovered all the lost jobs from the 2008 recession. that may be true, but we need +150K jobs each month on average for new workers entering the workforce. If true that’s 1.8M annually, or 12.6M jobs that are not there.

http://www.market-ticker.org/akcs-www?post=229102

Here’s a staggering statistic. In this great nation 1/2 of the jobs pay less than $27.5K. Not bad if you have 3 or 4...
http://themostimportantnews.com/archives/half-the-country-makes-less-than-27520-a-year-and-15-other-signs-the-middle-class-is-dying

Anyone think this generation is going to take care of us in our golden years of retirement?


36 posted on 06/18/2014 6:00:09 AM PDT by zek157
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To: ├čudda├čudd

Or their parents got them diagnosed with learning disabilities / ADHD / autism when in school to collect Social Security Disability checks, and then upon graduation they moved straight to SSDI.


37 posted on 06/18/2014 6:00:13 AM PDT by tbw2
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To: P-Marlowe

There are about 23 million immigrants in the labor force with about 8 million being illegal aliens. You keep mentioning illegal aliens as the cause and miss the elephant in the room—legal permanent immigrants. And add on top of that the 2 million guest workers at any one time who are in the workforce. The scarce jobs are going to immigrants, legal and illegal.


38 posted on 06/18/2014 6:00:49 AM PDT by kabar
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To: All
“Their mother's basement”
“I would suggest they are working in the underground economy”
I believe both of these are correct.
There are also the “Trustafarians” They hang out at coffee shops, microbreweries, and street side cafes. They sometime have a part time job at a second hand resale shop, more for show and as a topic of conversation then money. They're the children and grandchildren of the well to do. Then there are the those that came from welfare homes were work and jobs were seldom seen going back a couple of generations. And, the expectation of work was not part of their growing up. They're everywhere always matter-a-factly asking for money, often shocked when told no.
39 posted on 06/18/2014 6:00:53 AM PDT by MCF (If my home can't be my Castle, then it will be my Alamo.)
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To: Gaffer

If they are legalized, more illegal labor will come in to take their place. Real wages have been declining for over 40 years. If we had a shortage of labor, wages would be going up, not down.


40 posted on 06/18/2014 6:03:12 AM PDT by kabar
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To: SeekAndFind

High unemployment means the employer can chose older, more experienced employees over younger crack heads

the sub 25 crowd are also 0bama babies, expecting everything for nothing then whining about it


41 posted on 06/18/2014 6:04:13 AM PDT by sten (fighting tyranny never goes out of style)
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To: kabar

We can start by focusing on the illegal aliens. Frankly your estimate of 8 million illegal aliens in the workforce is low. I would estimate that number to be closer to 20 million. The figures that the Government uses of 12 million illegal aliens is a lie. It is closer to 30 million or about 10% of the population.


42 posted on 06/18/2014 6:04:23 AM PDT by P-Marlowe (There can be no Victory without a fight and no battle without wounds)
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To: zek157

The share of working-age (18 to 65) natives holding a job has not recovered from the Great Recession. In the fourth quarter of 2013, 31 percent were not working, something that has barely improved in the last five years.

In the fourth quarter of 2013, there were only two working-age natives holding a job for every one that was not employed. This represents a huge deterioration. As recently as 2000, there were three working-age adults holding a job for every one not working.

43 posted on 06/18/2014 6:06:06 AM PDT by kabar
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To: kabar

There won’t be any illegals any more. The border will never be sealed, and the cutoff date for ‘legality’ will never require any substantive proof.


44 posted on 06/18/2014 6:06:17 AM PDT by Gaffer
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To: SeekAndFind

Wall Street, protesting not being able to get a no show job.


45 posted on 06/18/2014 6:06:27 AM PDT by depressed in 06 (America conceived in liberty, dies in slavery.)
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To: ilovesarah2012

Down there playing video games, smokin’ dope and dinging the girlfriend. Oh, don’t forget facebooking either. And sitting back waiting for the phone to ring from a head hunter looking for a graduate with studies in “the mating habits of the African house fly”.


46 posted on 06/18/2014 6:07:32 AM PDT by biff (WAS)
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To: SeekAndFind; Jim Robinson; kristinn; IBD editorial writer; GOPJ; Reaganite Republican; ...

Good thread, thanks!

BTW, PING me if you post a thread based on WORK as the basis for jobs, jobs, jobs.

For example, most social engineering articles are about why The Federal Government is not forcing Businesses to “give” more jobs to people.

IOW, the “people” view a job as an entitlement that comes from the Federal Government forcing greedy businesses to “pay their fair share” so that everyone has a “living wage.”

The Reality is that the Federal Government is the primary restrictor of WORK that is allowed to be done in America.

The Federal Politicians in “both” parties speak of “getting the economy going again” while they spend themselves into bankruptcy 60 % into each Fiscal Year.

The Federal politicians in “both” parties speak of creating jobs, while paying the salaries of Regulators to write Regulations that restrict WORK that is allowed to be done in America.

Without an increase in WORK, there will be no increase in JOBS.

Those who oppose WORK thus oppose JOBS.

Right now, We, The Taxpayers, have 40 % more Federal Government than we can afford.

Right now, We, The People, have two political parties, the GOP-E and the Obama Democrats, that do not put the US Constitution to WORK.

It is time, - - - - time for a change.


47 posted on 06/18/2014 6:16:14 AM PDT by Graewoulf (Democrats' Obamacare Socialist Health Insur. Tax violates U.S. Constitution AND Anti-Trust Law.)
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To: SeekAndFind

All one has to do is open their eyes and they will see that all those jobs that we did as kids in High School and College are now being performed by Adult Illegal Aliens.


48 posted on 06/18/2014 6:24:38 AM PDT by eyeamok
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To: Gaffer

The border will never be sealed. You are quite correct. As I see it the One Worlders think that borders are unnecessary and that we should simply become part of the geographic entity of The Americas.

Unfortunately, we see what warring tribes is doing for SW Asia, Africa, and others. One Worldism wont work and doesn’t work. It’s why tribes created borders for safety and protection of resources which ultimately became nations.


49 posted on 06/18/2014 6:25:36 AM PDT by CARTOUCHE (9999 EOM)
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To: SeekAndFind


50 posted on 06/18/2014 6:27:57 AM PDT by Iron Munro (The Obamas' Black skin has morphed into Teflon thanks to the Obama Media)
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