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.