November 3, 2012

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): America’s Geriatric Work Force. “Of the 3.3 million jobs ‘created’ (updated for October’s data), a gasp-inducing 3.8 million has gone to workers aged 55 and over, or the one cohort that according to conventional wisdom is retiring, and actively leaving the workforce. How can America’s elderly workers account for more than the total? Simple: workers in the young (16-19) and prime (25-54) cohorts have cumulatively lost a whopping 1.3 million, with just the 25-54 age group losing 842,000 jobs . . . In other words, America’s edlerly are not only not in a rush to retire, they are reentering the workforce. . . and in doing so preventing younger workers, in their prime years, from generating incremental jobs.”

It’s the Senior Squeeze meeting the Junior Squeeze.