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No Jobs? Employment Is At 40-Year High For Those 55 And Up
IBD ^
| 05/04/2012
| By JED GRAHAM, INVESTOR'S BUSINESS DAILY
Posted on 05/04/2012 6:20:05 AM PDT by SeekAndFind
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To: SeekAndFind
How about the unemployment numbers by age? Boomers may be hanging onto their jobs for dear life but if you are “seasoned” AND unemployed, you are SOL. Then there’s that whole underemployed thingie.
2
posted on
05/04/2012 6:24:50 AM PDT
by
NonValueAdded
(Chen Guangcheng: Gutsy call, Obama /UltraMegaDrippingSarc)
To: SeekAndFind
Not a healthy “jobs” indicator so much as an economically unhealthy indicator that fewer older people are unable to comfortably retire.
3
posted on
05/04/2012 6:24:54 AM PDT
by
PapaNew
To: SeekAndFind
Lots of my fellow docs plan on working a long time since their retirement plans went poof.
4
posted on
05/04/2012 6:25:03 AM PDT
by
Kozak
("It's not an Election it's a Restraining Order" .....PJ O'Rourke)
To: SeekAndFind
Many of the over 50 crowd are also working to support their unemployed kids, who have moved back with mom and pop.
5
posted on
05/04/2012 6:28:42 AM PDT
by
Huskrrrr
To: NonValueAdded
Roosevelt Institute intern Charlie Eisenhood dug up this data on the unemployment rate by age and education from the Current Population Survey (CPS). Here it is in September 2010:
And here it was in December 2007 when the recession started:
Here is the difference between the two, along with the percent increase, so a (100%) is a doubling:
What jumps out for me? College educated 20-24 year olds have the highest percentage increase. This should hit against a structural unemployment story, as college educated people have the freshest skills and incredibly high mobility. Its worth pointing them out in particular because if their careers hit a rough spot hysteresis sets in and theyll have serious wage losses years down the road.
The other thing that jumps out at me is that everyone 55-64 has more than doubled their unemployment rate. One thing we arent talking about enough is that someone who is 60 and has been unemployed for a year isnt going to find a decent job again. Why dont we temporarily lower the retirement age, conditional on a bunch of hoops?
Why dont we do that especially rather than raising the retirement age, as the December debate is likely to be over, when 55-64 year olds have had such a large jump in unemployment?
What jumps out at you when you look at this data?
To: SeekAndFind
Repeat after me: "Do you want fries with that?"
7
posted on
05/04/2012 6:32:45 AM PDT
by
khelus
To: SeekAndFind
As a 60 year old, I’m making more than ever. Enjoying work more than ever. And my incentive to retire is?
8
posted on
05/04/2012 6:33:04 AM PDT
by
cicero2k
To: SeekAndFind
One thing we arent talking about enough is that someone who is 60 and has been unemployed for a year isnt going to find a decent job again. That sounds like me! 55 years old, 3 college degrees (BS, MS, PhD) and unemployed for almost 3 years. I can't wait to turn 65!
9
posted on
05/04/2012 6:37:28 AM PDT
by
Former Fetus
(Saved by grace through faith)
To: SeekAndFind
What jumps out at you when you look at this data?That the best numbers fall into the unskilled categories, which tells me the jobs being created are not quality jobs. It also tells me that if you crank in the "underemployed" numbers, the story it would tell would be devastating.
10
posted on
05/04/2012 6:37:32 AM PDT
by
NonValueAdded
(Chen Guangcheng: Gutsy call, Obama /UltraMegaDrippingSarc)
To: cicero2k
RE: As a 60 year old, Im making more than ever. Enjoying work more than ever. And my incentive to retire is?
Just curious, just exactly what do you do for a living? Maybe I’ll tell me school age kids to follow your footsteps...
To: SeekAndFind
Although I am employed/underemployed now, I can tell you that if you are over 50, unemployed for over six months, even with a graduate degree, getting back in the game is tough.
I can’t tell you how many times I was perfectly qualified for a job, and was told the employer did not want anyone unemployed for over six months, despite experience or education. Plus a few recruiters who did not work directly for the corporation basically alluded the if you were over 50+, forget it.
I think the stats reflect that older crowd is staying put, once they find a gig.
12
posted on
05/04/2012 6:42:30 AM PDT
by
RonboTex
(Get off my lawn!!!!!!!!)
To: SeekAndFind
I’m 58 and in IT. Getting work is easy if I contract. It is more difficult if I want to become an employee. That’s ok since the former pays more.
The reason for the difficulty is that companies want experienced people that are not too old. We are out of the “job for life” realm, but if you are over 55 they may get concerned about health care hits, training you in their specifics only to have you die or get too ill to work, etc. But with contracting, the more experience the better. An older guy can come in and do the work, mentor, and everything else until the contract, his health or his life ends, whichever comes first.
13
posted on
05/04/2012 6:43:17 AM PDT
by
cuban leaf
(Were doomed! Details at eleven.)
To: Huskrrrr
Many of the over 50 crowd are also working to support their unemployed kids, who have moved back with mom and pop.I fall into that group. So wish my son could find a better paying job.
14
posted on
05/04/2012 6:44:26 AM PDT
by
OB1kNOb
(The prudent see danger and take refuge, but the simple keep going and pay the penalty. - Prov 22:3)
To: SeekAndFind
This is why we need to kill all the old people with health care rationing.
15
posted on
05/04/2012 6:47:39 AM PDT
by
E. Pluribus Unum
(Do I really need a sarcasm tag? Seriously? You're that dense?)
To: SeekAndFind
Retiring early would be suicidal right now.
To: khelus
WAL-MART is the place to go for Seniors:
To: SeekAndFind
Gender discrimination is real. Women are the preferred protected class of US citizen today. At least it seems to be here in SE Michigan. Actually, it’s gender and age discrimination. More and more younger women have made careers of recruiting and hiring more and more younger women to work in Human Resources as recruiters, account managers and those women hire more women to work in as many other industries as they can. It’s a concerted effort to increase their numbers in the total workforce. This is typical of an era of unchecked liberalism. It happened during the Clinton years and its’ happening again right now.
18
posted on
05/04/2012 6:54:13 AM PDT
by
equaviator
(There's nothing like the universe to bring you down to earth again.)
To: SeekAndFind
Walmart’s eh?
I have also seen grey haired people who looked like they belonged in an office setting in fast food places and at food store check-outs.
19
posted on
05/04/2012 7:00:36 AM PDT
by
khelus
To: PapaNew
Absolutley!
20
posted on
05/04/2012 7:31:08 AM PDT
by
jennings2004
(President Hayes, Mount Rushmore, telephone, Dear Leader...what a mix!)
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