Skip to comments.Are Baby Boomers Stealing Jobs from the Young? (Part 1)
Posted on 05/12/2012 6:28:23 AM PDT by Kaslin
Walter Russell Mead writes on the disappearance of jobs for non-Baby Boomers:
An analysis of recent jobs figures at Investor.com reveals a disturbing development: the biggest beneficiaries from the economic recovery are Boomers, while everyone else is getting the shaft.
Since the Obama administration took office, there has been an epochal shift. Young workers have continued to lose jobs and incomes, while older workers have actually gained ground.
In fact, the Obama administration has seen a boom in the prospects of the 55+ crowd; their (I should say our) employment stands at a 42 year high. Net, there are 3.9 new jobs for people over 55 since the recession began in December 2007, but there are 8.1 million fewer jobs for the young folks since that time.
Jed Graham's IBD article features a chart that shows the employment-to-population ratio that applies for the following age groupings: Age 16-24, Age 25-55 and Age 55 and up:
In the chart, we see that those Age 55 and older would appear to have a near constant share of their population group having jobs.
Meanwhile, we see significant decreases in the employment share of the populations for both the Age 25-54 group and especially for the Age 16-24 group since December 2007, which marks the beginning of the so-called "Great Recession".
We thought that outcome was interesting enough to dig deeper into the data to see how the age distribution of the U.S. workforce has changed over this period of time.
And to make it really interesting, we've decided to go back to November 2006 to do it. Here's why:
The downside to our more detailed approach is that we're not going to be able to use the BLS' seasonally-adjusted data for these older five-year age groupings, because the BLS only reports the non-seasonally adjusted data it collects for them, which means that the data we'll be using won't match these more commonly reported values.
Still, because we'll be comparing the data for the same month (November) five years apart, our analysis should only differ in very minor respects from what might be achieved using seasonally-adjusted data, if it had been available.
We're going to do this in a three-part series of posts, with this post being the first. Our next stop: the change in the age distribution of the American workforce from November 2006 to November 2011!
Since Mar 10, 2012
"They took our jerbs."
Walmart has done away with their greeters
It is very hard to get ahead in this world when no one will give you your first shot. Let’s take a basic example: Jeremy Lin. He was cut from team after team, no one wanted him and wouldn’t give him a shot but he continued to practice and hone his skills until finally someone gave him a shot and he proved that he could produce. If no one had given him that first shot, he never would have been able to SHOW he could produce even though he KNEW he could.
It’s similar to my position in that I know I can perform in an entry level job but no one wants to give me that first shot. It seems Breck is in a similar position.
We can’t help the economy we’re given my friend.
China took our jobs.
Because it profited a few, to give the jobs America once did, to communists.
I just received a B.S. in Economics (graduated with Honors from one of the best statistics/math schools in the country) and have taken Calc, Diff Eq, Linear Algebra, Econometrics, Statistics, etc. and I am also having extreme trouble finding a job.
I may be going back and obtaining a Masters in Econ with a Master’s Minor in Stats along with classes such as Real Analysis, some more Diff Eq, etc.
The economy is rough for everyone not just the Liberal Arts people (Even though they have it much worse)
Go to work.
Just saying. Everyone else does.
Welcome to reality. Stop procrastinating.
Get out there. DO WHAT YOU HAVE TRAINED TO DO.
It will be a shock, at first. No weekend frat parties.
No co-ed dorms.
But the pay is a (lot) better.
“a vote for Virgil = a vote for Obama”
On every thread, on any subject, there is always some Romneybot who thinks a vote for anybody but THEIR guy is a vote for Obama.
It is getting tiring.
And it makes you look stupid too.
Try this: A vote for Obama is a vote for Obama. A vote for anybody else is Not a vote for Obama.
Re: your post.
OBAMA IS A COMMUNIST, AND HE SUCKS.
it sucks and it'll hard, but are you gonna stay there another 12 years???
I JUST GRADUATED TODAY.
I HAVE BEEN INTERVIEWING FOR A YEAR NOW.
I never partied, too busy studying because I was taking more math than engineering majors do.
Thanks for the advice, I’ll be sure to take that into account.
Ok you’ve got the attitude down pretty well.
How about you stop finding reasons you’re not getting a job offer, and start putting together a very deliberately crafted case as to why the hiring manager should be interesting in hiring you.
What can you do, they would pay you for?
“OBAMA IS A COMMUNIST, AND HE SUCKS.
No questions. I agree.
But what does that have to do with what I said?
I happen to believe Romney is not a communist.
Thanks for asking.
I give up.
You’re obviously to lazy to go back and read the multitude of posts that state my training.
Have a good day sir and stay the hell out of my life and posts.
I did notice.
You sure sound like a liberal democrap. Boomers aren’t stealing from you, heck they created the opportunities you have. I think your generation is the lazy group stealing from the rest of us. You want what others have earned and want a standard of living you haven’t earned. Just like a dumbocrap.
You are either an Axelrod/obami troll or just a whiner. Either way, I don’t think a conservative site is a place for you.
You and JC Breck sound the same. If you possess skills not in demand, then it is your problem, not employers problem. Blame obami, did you vote for an anti business marxist? Sounds like it.
not to mention, a lot of us are helping our adult kids with their bills....