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.
Lets all contemplate these figures while the GOP, Democrats and Chamber of Commerce finally ‘reform’ immigration.
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.
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.
...and to support their adult ‘children’.
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.
They are in mommy’s basements posting at the DUmp.
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.
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.
Raise the minimum wage to ~ $50 per hour?
Is this why businesses keep crying for more immigrants?
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.
Typical business attitude thinking cheap illegal labor will go on forever, even if they are legalized. Far from it.
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.
Lucky bastards. And to think I have to go to work..
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.
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.”
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.
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...
Anyone think this generation is going to take care of us in our golden years of retirement?
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.
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.
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.
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
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.
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.
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.
Wall Street, protesting not being able to get a no show job.
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”.
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.
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.
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.