The further one digs into today's "blockbuster" jobs report, the uglier it gets. Because it is not only the participation rate collapse, the slide in average earnings, but, topping it all off, we just learned that the future of the US workforce is bleak. In fact, with the age of the median employed male now in their mid-40's, the US workforce has never been older. Case in point: the September data confimed that the whopping surge in jobs... was thanks to your "grandparents" those in the 55-69 age group, which comprised the vast majority of the job additions in the month, at a whopping 230K.This was the biggest monthly jobs increase in the 55 and over age group since February!
What about the prime worker demographic, those aged 25-54 and whose work output is supposed to propel the US economy forward? They lost 10,000 jobs.
Of course, don't expect any of this to be mentioned on any financial entertainment outlets: it would spoil the party of today's "surging" jobs day.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
4 comments:
hey, man - us old guys rock. We have stuff the young punks don't have: manners, integrity, respect, well groomed, educated, well spoken, wisdom, experience, and the ability to be flexible and accepting of different opinions without the hate and prejudice. LOL
Should be retired and happy, but after ENron, followed by stock market crash and r/e failure, Not to mention devaluation of $ to half of its buying power, we BOTH are back in the work force... Not that easy after 80.
Exactly why our workforce is getting less and less productive.
wouldnt this qualify as REVERSE AGE DISCRIMINATION?
Post a Comment