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!
“It is between laying off the 356 year old with the spouse”
==
Damn those geezers that just won’t retire.
For a moment I thought the scroll button was broken.
I never once said or claimed that my generation is superior. I claimed that your generation was superior. Please read my post more carefully next time.
On the second part of the post: Thank you.
I have the same problem. When a train goes by, the internet connection seems to go haywire. After a ~reasonable~ amount of time, I just click the stop icon on the url, open a new tab, and go back to the thread to see if my comment has posted. Nine times out of ten it will have posted, if it hasn’t, you can go back to the previous tab and try to post it again. This way you don’t lose any pithy comments :)
Thanks for the honest reply. Way to go on graduating today!
Honestly I don’t know squat about how to get a job in economics, but here is a little advice from over the years.
You may have several different careers in your lifetime that have nothing at all to do with what you graduated in.
Heck, I have a degree in wildlife biology and sell toilet paper for a living. LOL! Lots and lots of toilet paper, on staight commission to boot!
Get some business experience, a degree in business if you can, and don’t be afraid to take a job out of your field and start at the bottom. I bagged groceries because I needed the work, then moved into a dairy manager position, and then on to assistant store manager. Then I left the grocery field to start again at the bottom in the janotorial supply business. All that after graduating college.
Learn how to write and communicate well. Learn to be tech savvy and keep up on it. I’m getting ready to learn my fifth new computer system at work in 18 years. Get some hobbies that you are passionate about and pursue them, it makes life worth living after work.
The best advice I have for you is networking. Get out and meet business people in your community. Many local Chambers of Commerce have Business After Hours and Young Professional groups you can join to network with. A lot of times it’s who you know that leads to opportunities.....
Be outgoing and not shy, sieze every oppotunity you have a chance to.
Your real education is just beginning, school is fine, but get a good positive attitude and keep on learning. Us old farts don’t hate the younger generation, just the ones that sit on their butts and whine. I love meeting young entrepenuers, they give me hope that all is not lost.....
Good Luck!
Yea the 5 is next to the 6.
I am sure that you are going to find a decent job soon, your degree is needed and has a value...
Think about that for a moment. You have the choice when downsizing your workforce of retaining cheaper, less experienced labor, or retaining more experienced but more expensive workers.
So what is the difference? The more experienced workers can train an expanding workforce. They know the tricks of their particular trade, and every trade has its tricks. They have seen more, dealt with more problems, and have a greater knowledge base. They grew up with a strong work ethic, often working from the time they were able in a family business or on a farm.
It is worth a little extra to have that skill set, or sometimes several skill sets that experience brings, and showing up for work on time and working until the whistle blows is a plus.
Now, that will vary from workforce to workforce, and I have never worked a union job (this is a right-to work state, and the upstream end of the oil patch isn't union, at least not here). Even EEOC rules won't keep your job if the workforce is 'overpopulated' with older workers, maybe union seniority deals will, but look back at retaining that core workforce who can train new workers when things turn around, and I think you have the answer.
One of the places I have seen a great number of younger workers getting jobs is in the oil patch. Construction in this area and the service industry sector are doing well as well.
But this place is atypical. There's an oil boom on, and people have come to this area from all over--I have seen license plates here from every state--to work.
The biggest obstacle to employment is waiting for that perfect job, with all the benefits, perks, and goodies. They are few and far between and seldom entry-level positions. Get your foot in the door, somewhere, and look for better. It seems you get more offers when you have a job than when you don't.
Don’t be so sure of all those “opportunities” we had that you don’t...
Life isn’t easy and hasn’t been.
Virtually all of the successful people I know started and built their own businesses and didn’t depend on others for “jobs”.
You feel someone is “stealing” a job from you?
Just wow...
Just another victim eh?
Lmao
Your intention is correct but facts off
Queeg won plenty demographics but in the new brown America it was no longer enough
Amongst whites....youth and single ribs was all he lost
Great Moniker
I salute u
“You want what others have earned and want a standard of living you haven’t earned. Just like a dumbocrap.”
Which is why I’m not taking disability and trying to earn a living? I could be just like so many boomers that I do know and doing just that. They’ve told me that I’m a fool for wanting to work.
At least my disability is legitimate.
A lot of the “young” people don’t really want a job, at least not one that involves work of any kind....I retired in 2010 and trained the college grad they hired to take over my job. In late 2011 they asked me to come in for lunch. I was asked to take over my old job again. I sort of argued with them and asked what about Andy? He took every sick day as it came due, borrowed two weeks of vacation and took off an unpaid two week vacation. I relented and went back to work “temporarily”. There were no filings made of monthly forms, reports didn’t report and monthly inspections hadn’t been accomplished. When I went on SS, I asked to be cut back to $14160.00 a year. We are negotiating a paid consultant job right now and I don’t want it.
My grandmother did it for 40 years. My grandmother was an english teacher, and my mother a college professor. My aunt is also an english teacher, as are several of my cousins.
My mother and aunt and grandmother all taught in public schools, and my mother when she got her job teaching as a college professor had less education than I do now.
I have been helping her get her PhD, because much of that which she is studying (philosophy, etc), is stuff she’d never done before or had to learn, while I covered it in my BA.
You have a shot.
If you make choices that force you into a box of being dependent on others for a job then it is time to make different choices.
Most successful people have a long string of failures early on. They learn from their failures, make adjustments and trying again. What separates them from other people is they get up again when knocked down. They don’t quit. They may give up on the path/plan they’re currently on but they start a new path in a new direction based on what they learned from the last experience.
It is up to you and you alone. Not a “boomer” or anyone else can “steal” if from you.
“How do you think your employment prospects would be with a science degree?”
I have 60 science credits in my degree, physics, math and chemistry. Did calculus I and calculus II, linear algebra, differential equations, partial derivatives.
I have been published in a national newspaper for my statistical analysis in collaboration with another reporter. Do a fair amount of data entry and stats work with demographics.
I find that demography has significant overlap with my history degree, as it’s all about going through public health records and researching them through the years and then combining all the data together and analysing them.
How much math do you have? :)
“Most successful people have a long string of failures early on. They learn from their failures, make adjustments and trying again. What separates them from other people is they get up again when knocked down. They don’t quit. They may give up on the path/plan they’re currently on but they start a new path in a new direction based on what they learned from the last experience.”
Boomers are making decisions that are extremely disadvantageous to my employment prospects. So, yeah, I’m not happy with those decisions, I’d much rather you simply left us alone rather then throwing up all the hurdles and barriers that you can.
My mother, when she got her job as a college professor had less education than I have at present. So, yeah. Things are different now.
No one called you a deadbeat. Turn your deadbeat over to a collection agency and get a stiff up-front fee for jobs in the future.
Ok thanks. :)
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