We have long been pounding the table (certainly since mid-2012) that the US labor market has become a place where mostly older workers - those 55 and over - are hirable - something which has nothing to do with demographics, and everything to do with excess worker slack, and an employer's market to pick and chose those workers that are most qualified for a job since older workers have the same wage leverage as younger ones: none. February was merely the latest confirmation of just this.
The chart below shows the age breakdown of the various age groups of workers hired in the past month. The vast majority, or 239K of the job gains(according to the Household survey), once again fell into the oldest group, those aged 55-69. The core demographic, those 25-54, rose by a negligible 29K. Everyone else, i.e., those 16-24, saw a total of 153K in job losses.
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4 comments:
They're already on medicare and don't mind taking part time....employers are willing to hire them as they are seasoned and dependable.....
They are the ones with a good work ethic. That's why people want to hire them. A lot of young people don't want to work very hard.
The employers are using it as a loophole for not paying out benefits! Guess what with OBAMACARE you old people are either gonna have to give up some more hours or start paying taxes again!
Like Freddie once sang,"we are the champions of the world".He was referring to the over 55 crowd.We still know how to work without texting.
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