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In keeping with Jobs in America Vol. I - Unemployment and Bonddad's Topic of the day, (but a day late and lots of IQ points short) I humbly introduce Jobs In America Vol.II a look at Employment by Age Groups for your consideration.  

The impact of the economy over the past 5 years of the Reign of King Georgie II - Holy Emperor of Bribealot has dimmed the prospects of those young whippersnappers we are all counting on to support us in our old age, or maybe they are just lazy which is forcing us old farts to work as greeters at Wal-Mart far into our "Golden Years".  (No offense to the young or to the AARP)

More below the fold....

Yes, Virgina, the population of the US is getting older.  The boomers are approaching their Golden Years when they will drain the Social Security system and live off of their gains in the stock market.  That's the story as told by King George and his minions and why they claim we must shift to a private Social Security System.  So it would seem that it would behoove us to encourage the younger generations to learn how to dedicate themselves to a job early in life in training to become good  cubicle slaves and Wal-Mart greeters.

The "Official" unemployment stats only consider the portion of the population which is "actively seeking" employment.  So looking at the data we see who is actually seeking employment (at least according to the gov't).  It's interesting to see that there have been declines in Labor Force Participation in all age groups younger than 55, and increases in all age groups above 55.  For the older workers, a large part of this is probably due to collapse of the stock market bubble, increasing medical costs, and hopefully improved health of older workers.  Why aren't more younger workers seeking employment?

This could be a very good reason why the younger folks are not jumping into the labor force.  Perhaps the jump from 13% of those in the workforce being unemployed to 16.6% has a little to do with it.  No age group (except the 75+ workers, all ten of 'em) has escaped the effects of the Bushco economic miracle, but the young have been hit the hardest.  

When loooking at the employed/population ratio for all age groups, it becomes even more obvious how the young are getting screwed (wait, in the spirit of truthiness, that should read "personally empowered").  For folks appraching the middle of our lives like myself, the picture is pretty depressing as well.  It seems more older folks are working longer.  Great, thats what I want to do with the rest of my life. Actually I like my job, I get to screw with the potential careers of those snot nosed young whippersnappers every day (productivity growth).

When we look at the change from the 2000 data, prior to the rise of the King and the full supremacy of the Kingdom of Bribealot.  We see clearly the extent of changes to the job market.  Every age group under 55 has a smaller portion of the population working, while there have been significant increases in the age groups over 55.  Especially 75+, must just be workaholics.

How many jobs have been lost/gained for each age group?  See above.

What is causing these shifts?  I suggest the minimum wage has a lot to do with the the decline in Labor force participation for the those under 24. College ed is increasingly being finainced through debt, as a college student in the midst of the Reign of King Ronny, I was able to "work" my way through college at a state school without taking on debt and with minimal cash infusions from the Parental Units (mostly due to party expenses). It took 5+ years, but it was doable.  At today's tuition and wage rates, I doubt this is possible.  So students may be focusing on getting through college as fast as possible and cannot find work until they have the parchment.  Ok, so that along with low home equity rates explains the massive changes in the sub 20 yr olds and a large part of the 20-24 yr olds.  The rest of us in the middle are just screwed since the older folks keep on working, bastards.

Wait, wait, don't tell me, I must be wrong, King George II along with the Royal Treasure Disperser, Prince John Snow (the Toad), claim this is a booming economy.

Originally posted to BTower on Thu Jan 12, 2006 at 05:44 AM PST.


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Comment Preferences

  •  Tip Jar (4.00)
    I work for tips since the minimum wage is so freaking low.
  •  Look beyond the affluent middle class (none)
    There are lots of young whippersnappers getting jobs, thanks to the connections of their affluent middle class parents.  The people age 16-24 who can't find jobs are outside the affluent middle class; they might not have no interest in college, which means they are trying to enter the job market having dropped out of school at age 16 or after getting a high school diploma.

    Why are they not getting jobs?  Employers are not hiring them?  Why are the employers not hiring them?  They have no work experience.  Why do they have no work experience? Because they are young; they've been compelled to go to school.  They might like school and do moderately well at school, but they still have been compelled to go to school.  They haven't a clue how to find a job; they've not done it before and no one has bothered to tell them.  And even if they have been told, it's been "Look at the want ads" or "See if there are any 'Help Wanted'" signs.

    Even the diligent ones are discouraged.  They might try community college for a semester and drop out because even two years is a long time to waste in order to get a job that pays $16,000 instead of minimum wage.

    Those of us preparing for retirement, having worked all of our lives since school, having lost our 401(k) funds during the Nixon, Reagan, Bush I, and Bush II recessions, and the oil-crunch inflation of the 1970s, are now seeing that we will not ever retire.  What is likely to start happening is that employers will be pushing out older workers.

    •  I was suprised to see (none)
      the actual increases in employment of the 55+ year olds.  It's been my experience over the past decade that companies are actively pushing out the older workers, through early retiremant packages, stagnant evaluations etc.., I guess they're just not hiring replacements.

      Your points on the employment prospects of the non-affluent classes are right on the money.  Personally, I think career guidance in our school's suck and may be a large part of the problem.  

  •  European Levels of Unemployment (none)
    for young that where we are headed? Low-wage work imported, illegal and therefore unprotected labor and high-pay work only for those with years and years of education?

    Yeah America!

    Sponge Bob, Mandrake, Cartoons. That's how your hard-core islamahomocommienazis work.

    by Benito on Thu Jan 12, 2006 at 06:11:15 AM PST

  •  How about the aviation industry (none)
    my hubby has been out of work since September, with no hiring anywhere here by a major airport hub DFW.  He hears word that many repair stations are being relocated to South America and China, and the FAA/Gov't is OKing this.  Any stats?

    Thanks for the great post.  Very revealing but we down here at the lower end of the ladder can feel the pain.

    No Thank You, Mr. Bush. I DON'T need you to protect me.

    by Yankee in exile on Thu Jan 12, 2006 at 06:13:44 AM PST

    •  No stats off hand (none)
      But I'll cover this in a upcoming diary.  Lots of anecdotal evidence, however.  NWA is moving much of their "Heavy" overhaul work offshore, I;m sure others are as well.  This is a shame, A&P's were a pretty good career choice for the non-college oriented.
      •  I know (none)
        my husband's job he lost, he made 22/hour.  I was able to stay home with the kids.  In the past 6 months only I was able to find a job and that was refurbishing cell phones for 9/hour and he's home with the kids.

        If we didn't have his small military retirement, we would have to sell the house.  This past 5 years it's been one slow slide down hill.  He thinks he will have to change careers (at almost 50 years old) but to what?  What do you train for that won't be moved overseas to people who are paid 50 cents an hour?  It's a selling off of our economic equity.  Sorry, I rant I whine, but this is a blog, right?  

        The moral and self-righteous think nothing bad will happen to them, especially at the hands of their own government.

        by Yankee in exile on Thu Jan 12, 2006 at 06:30:13 AM PST

        [ Parent ]

  •  domino effect, maybe? (none)
    Not sure, but here's a thought: maybe fewer of the youngest people are working because they're being "bumped down" and out of the market?  That is, as jobs become harder to get, maybe they tend to be taken by more over-qualified, more experienced people - and more experienced ususally means older.  So, maybe as older workers are displaced from, or can't get, better jobs, they take worse jobs, the ones that used to go to kids, and bump the kids out?

    Just an idea.

    It may be profitable for you to reflect, in future, that there never were greed and cunning in the world yet that did not do too much, and overreach themselves.

    by ChaosMouse on Thu Jan 12, 2006 at 08:10:00 AM PST

    •  I'm sure that accounts for part of it (none)
      plus add in the fact that these are only 5 yr interval age groups so many of the under 30's have never really seen anything other than a soft job market.  
  •  The Solution is Immediately Obvious (none)
    Old folks have to die earlier...

    If I had a rocket launcher
    Some sonofabitch would die.
    - Bruce Cockburn

    by The Baculum King on Thu Jan 12, 2006 at 11:44:13 AM PST

  •  Excellent work ... (none)
    But, discussion of implications of prisoners/prisons (e.g., all those guards ...) on employment rates.  And, additionally, the implications of extensive military operations on employment rates.  (Since 9/11, has military had an extra 250,000 people employed?)

    9/11/05, Day 1469, A count worth keeping? Or, Osama Bin Forgotten?

    by besieged by bush on Thu Jan 12, 2006 at 02:18:48 PM PST

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