Via Zero Hedge — as two Boomers battle it out for the White House, plenty of jobs for Boomers, crumbs for everyone else:
And here’s last month’s data:
I’m 25. This age-bracket has consistently shed jobs since 2009.
While the underlying reality beneath the statistics is undoubtedly complex and multi-dimensional, one factor has to be that younger workers are stuck in a kind of Catch-22. Many younger individuals are trapped with job little experience. To get experience, they need to get hired, and to get hired they need experience. In a depressionary environment, employers may be less willing to take chances with new employees, and so when hiring may more often choose experience over youthful enthusiasm and academic qualifications. That wouldn’t be a problem if the Boomers were retiring en mass. But with plenty of older individuals still in the work force — at least in part due to the very low-interest rate environment where returns on savings are meagre, and due to the depressed housing market that has left many underwater on their homes — the elderly are snapping up jobs and experience, and so consigning many younger individuals — even those with degrees — to flipping burgers, making coffee, the unemployment queue, or writing blogs.
It’s a bad situation for nearly everybody, but this goes without saying. Blaming one group or another isn’t going to help the reality of the situation, which is that a very small percentage of the 75M baby-boomers are prepared for retirement.
There are all kinds of reasons for this, and it truly sucks for people of your generation [I have four children that straddle your age], but the barn doors have been open for decades, the horses are loooooooong gone.
The key for you and those like you is to first, view what’s going on as accurately as is possible, then, instead of complaining about it, do what you can to put yourself in the best possible situation to achieve. Lower your expenses, be content with less and concentrate of the truly important things in life.
This depression will come to an end and you [most likely] will enjoy an era of great prosperity [relatively speaking]. In the meantime, enjoy each day the best you can, help others whenever possible, and keep up the great work you do here!!
[see what you get for calling out the older generation :)]
I faced exactly that problem, made even worse by a minimum wage that prevented me from undercutting more experienced workers.
Eventually resolved, by creatively lying about the number of hours I worked, and being lucky enough to find an employer willing to join me in fraud.
Further to that, my coworker is in her mid 60’s.
Companies are happy to take a chance on her, because she will retire soon anyway, if they employed you, they’d have to keep you for 40 years, pay you off, go bankrupt, or risk trumped up racism / sexism / harassment charges.
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“Jilted generation” isn’t it?
I’m 25 too. Thing is, we’re late man, boomers took/sold everything and made sure they burned the house before leaving. Inevitable inflation, lack of vision, crazy global market etc. 20 years in charge, we end up… well, hell.
A lot of talk out there, people calling @ Fed’s actions, “progressive recovery”, “buy time spreading local volatility” blah blah blah.
We-all should take power, let the market fix everything, buy post-elaborated-crash houses, and watch those bankrupt “boomers” bleed to death.
I’m really, really piss off.
I’m only 23 here, and I feel the same anger as you do.
I only really started seeing how corrupt and controlled are world was when I got laid off my fast food job last November(Lots of free time + internet = easy way to bypass the mainstream media propaganda circus and get educated).
It’s just so painful once you realize your elders stole your future from you, under pretenses of greed and short-shortsightedness.
“People would have a great incentive to hold Bitcoins and delay their consumption, thereby exacerbating the deflationary spiral” – the mind boggles at this level of stupidity. No wonder central bankers are so lost, with such clueless staff basing all their thinking on intellectually deranged assumptions. It’s like saying nobody would buy electronics if they knew prices would come down in the future. It’s literally hard to understand how anyone could believe in such a stupid thing.
Click to access virtualcurrencyschemes201210en.pdf
Proof positive that some of the central bankers in the US are really smart people
Click to access 2012-035.pdf
John: if anyone but you had made that smartass remark about “writing blogs” as a last resort for the unemployed, I and others would have been outraged!
Would you please present employment/unemployment data classified by degree/profession? Here in Texas, geologists/petroleum engineers and medical techs are in demand while sociologists are not. I see a new acronym has emerged — STEM (Science, Technology, Engineering, Mathematics). I sense that software and accounting grads are also OK.
We need to go back to the old methods. Proper child labour apprenticeships. Why can someone like me work on a diesel tractors, rebuild a car motor (high demand job and lack of skilled workers), use power tools and I have a Degree in Commerce, a CPA as well?
Because I played with motors, pulling them apart, reading technical journals, fixing them from a young age. I then went to a Technical and Trades High School, then University.
People say that child labour is wrong. I say they are wrong. The manual dexterity (Knowing how hard to tighten a bolt by feel before it snaps, can’t be learnt from books) is taught while young, not old. My mate has a Garage and he won’t employ the young, because they break things, as they have no hands on experience and he does not have the time to teach. They should have learnt this while at Technical school or at home – Making a billy cart or a bird cage, or a go cart, or mowing lawns and fixing their broken down machines.
In India, children learn stone cutting techniques from a Grand master.. These kids are expert by 18. It is not Child labour.
I don’t know who was responsible, but in Australia they merged the Technical High Schools with the Academic High schools so not only do you have poor trades skills you have bad English grammar and office politic “soft skills” being taught. We are producing nothing of quality or substance. It is a travesty! That is why businesses only employ the older workers, because they have the skills needed to stay in business.
Unfortunately John, your generation has definitely been jilted. Hopefully we learn very quickly to teach the younger 10-15 year old before the skilled masters retire and lose the vast 1000 year knowledge base.
I agree with Don’s assessment that too many social study courses have been taken and not STEM courses. But I guess with a bloated Government sector, they need the politically correct, “soft” skills.
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