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!
we recently have hired a bunch of new grads and they are great....they've had to accept evening or night shift, part time hours, etc...but they're willing...
looking for a job, look to work your way up...the first years are not glorious....
I think Americans watch too much tv...all these young people on sitcoms not working, having their big, so they say, sex lives and dating scenes, the latest fashions, and cell phones...
that is NOT life.....
You’re right. It’s not good for the country, our society, when so many of the best, brightest and most experienced people are let go when they still have a good 10-20 productive years left. So much expertise is lost. We lose our competitive edge because the tatoo’d, earring’d, text messaging, media saturated younger generation can’t get a proper education and take longer to grow up. With so many having lost their jobs, obama doesn’t deserve to keep his, no matter how pretty the media generated Potemkin village is made. And I don’t care about what GWB did, we’re on obama’s watch now. Just my little gripe at the moment. Thanks
No, I voted for McCain.
My skills lie in Statistics which is in demand however finding entry level jobs is quite complicated in this economy thanks to the large amount of individuals with 2+ years experience taking the lower level jobs which pushes people such as myself out of the entry level jobs in that field. While I may not like it, it’s a fact of life and I have to deal with it. It’s my problem and maybe I’ll get lucky in that some employer will give me my first shot and let me prove that I can produce. If not, I’ll keep trying! :D
What I keep hearing is a vocal minority on FR that despises young conservatives and holds ridiculous assumptions about that demographic. For example, you assumed I voted for Odumbo. Ignorant much?
That minority is also trying, and succeeding, at driving away young conservatives through constant personal attacks instead of listening to our opinions and experience in the entry-level labor markets. While we may not know much of anything, we do know the conditions of that specific labor market and how they affect us. Disagreements are fine but please don’t assume that A) you’re superior to us in anyway or B) that you know everything because you most certaintly aren’t and do not.
I’m more than willing to listen and acknowledge your stereotypes of my generation (many are quite accurate) but you should also be willing to listen to our experiences and our views because sometimes we may actually have something to contribute to the conversation that you older folks may not know.
Food for thought.
This thread suggest otherwise unfortunately. There is a vocal minority that seems to really hate us young folks.
“I happen to believe Romney is not a communist.
Thanks for asking.”
Neither do I.
What the heck is your point?
But now he's finding out that my experience and the creativity that comes from really knowing what I'm doing just doesn't automatically come from whomever he can find who doesn't have that experience.
So, contrary to me 'stealing' the jobs of all these younger guys, it may well turn out that in the long run, I'm a significant factor in keeping them in *their* jobs.
But now he's finding out that my experience and the creativity that comes from really knowing what I'm doing just doesn't automatically come from whomever he can find who doesn't have that experience.
So, contrary to me 'stealing' the jobs of all these younger guys, it may well turn out that in the long run, I'm a significant factor in keeping them in *their* jobs.
But now he's finding out that my experience and the creativity that comes from really knowing what I'm doing just doesn't automatically come from whomever he can find who doesn't have that experience.
So, contrary to me 'stealing' the jobs of all these younger guys, it may well turn out that in the long run, I'm a significant factor in keeping them in *their* jobs.
But now he's finding out that my experience and the creativity that comes from really knowing what I'm doing just doesn't automatically come from whomever he can find who doesn't have that experience.
So, contrary to me 'stealing' the jobs of all these younger guys, it may well turn out that in the long run, I'm a significant factor in keeping them in *their* jobs.
But now he's finding out that my experience and the creativity that comes from really knowing what I'm doing just doesn't automatically come from whomever he can find who doesn't have that experience.
So, contrary to me 'stealing' the jobs of all these younger guys, it may well turn out that in the long run, I'm a significant factor in keeping them in *their* jobs.
But now he's finding out that my experience and the creativity that comes from really knowing what I'm doing just doesn't automatically come from whomever he can find who doesn't have that experience.
So, contrary to me 'stealing' the jobs of all these younger guys, it may well turn out that in the long run, I'm a significant factor in keeping them in *their* jobs.
But now he's finding out that my experience and the creativity that comes from really knowing what I'm doing just doesn't automatically come from whomever he can find who doesn't have that experience.
So, contrary to me 'stealing' the jobs of all these younger guys, it may well turn out that in the long run, I'm a significant factor in keeping them in *their* jobs.
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