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3.8 million of 3.3 million jobs created since 2009 went to people aged 55+

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Posted

Oh I go out of my way to leave work behind and take care of family. My 12 and 10 yr olds will be that age just one time. Preaching to the choir on this one.

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Posted

Update....The age group (25-34 year olds) that used to be Peak earners are still flailing while "retirees" still adding to the workforce at the fastest rate. Crazy.

My generation could truly end up being a lost generation. Being unemployed and underemployed at 25-34 is the worst thing that can happen for one's career, since this is when the majority of marketable skills are developed. In ten years, if the economy is better, my age group will be filled with underqualified and unhirable people. Sad.

A good jobs report? Sure, if one is 55 and over. In December the American jobs gerontocracy continued its relentless course, and as the two charts below summarize since Obama's first term, some 2.7 million jobs in the 16-55 year old category have been lost. The "offset": 4 million jobs for Americans between 55 and 69. For all those young people graduating from college (with $150,000 in student loans) who are unable to get a job, here is our advice: tell your parents, and grandparents, to retire already. Oh wait, they can't because Bernanke destroyed their savings. Oops - better luck next time.

http://www.zerohedge.com/news/2013-01-04/where-jobs-are-55-and-older

Jobs%20by%20age%20group%20since%202009%20spread.jpg

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Posted

underemployed at 25-34

:sick:

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Posted

I know my dad is still working at 63.

My MIL is still going strong at 61.

My FIL is looking to get back in the programming game at 66 after being retired only a year.

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Posted

We need interest rates up to get a real recovery.

We need a real recovery to get interest rates up.

Boy this is a pickle.

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Posted

Not to mention that this 25-34 jobs bust is causing a baby bust.

Which in turn is exacerbating the problem and will continue to for years to come.

1. Tell pops to retire

2. Go knock someone up

3.

4. Profit

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Posted

This is partially due to baby boomers and longer lifespan due to better medical care.

My stepfather retired from factory work at age 62. He is turning 80 this week, and still has two jobs, that each work him about 15 hours a week. His kids are all grown, and he would never do something like play golf. He works because he enjoys working, and would probably die soon if he stopped working.

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Posted

Not to mention that this 25-34 jobs bust is causing a baby bust.

Which in turn is exacerbating the problem and will continue to for years to come.

1. Tell pops to retire

2. Go knock someone up

3.

4. Profit

If you think this is an issue....wait until the poo hits the fan with Social Security, Medicare, and Medicaid. It's going to get extremely ugly.

When this glut of baby boomers retire, and start cashing in on SS, and the 25-35 year olds aren't making enough in wages to offset this....oh boy.

But...let's keep on kicking that can down the street...keep borrowing money...keep stealing from our children to pay for yesterdays deeds.

This country is heading straight for a Greece type awakening.

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Posted

Here's an idea: Focus on increased productivity rather than increased population.

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Posted

When you look at the actual rates by age it doesn't seem so bad. In fact the age group 25-34 has dropped from 9.3 to 7.7 over the past 12 months. While 55+ has barely moved.

That contradicts the data in the original post.

http://www.bls.gov/web/empsit/cpseea10.htm

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Posted

Also comparing the US Economy to Greece is about as intelligent as comparing it to 1930'sI Germany.

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Posted

Also comparing the US Economy to Greece is about as intelligent as comparing it to 1930'sI Germany.

Or Firearms in Europe vs America.

/slides back out of thread.

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