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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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