With today's jobs number due out shortly, it is worth pointing out some of the key trends that we have observed in the underlying data stripped of month-to-month seasonal variance, which expose the "quality" side of the US non-recovery, instead of the far more manageable "quantity" side. First and foremost, as we showed over two years ago [6], and as the mainstream is gradually picking up [7], the US labor force is increasingly transitioning to one of part-time, and temp workers, which has key implications for wages, worker leverage, and overall job prospects, all of which logically are negative. But perhaps an even more disturbing trends is the conversion of America into a gerontocratic worker society, where the bulk of jobs are handed out to those 55 and over [8], which puts all young workers, not to mention college graduates, at a major disadvantage relative to far more experienced older workers, who are willing to work for less as they scramble to compensate for retirement shortfalls, and which prevents the natural rotation of the US labor force from older to younger.
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2 comments:
People retire way to early and then constantly complain about money. If you cannot afford it then just why are you retired?
Just don't forget how reliable older workers are.Employers are scared to hire young people because they are UNreliable.Employers KNOW they can depend on employees who have worked for them for years and proven themselves over and over.Why take unnecessary chances?The other day I was interviewing a 22 year old female who answered a text DURING the interview.She was a college graduate complaining about paying back college loans!
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