Retirement is a pipedream: All of the Employment Gains for 20 Years Are From Those Aged 60 and Over

[OfTheCross]

What’s Driving This Outcome
This age-skewed labor-market outcome was the result of two differences between the groups:

• The older population (60 and older) grew much faster than the younger population (16-59).
• The employment-to-population (E-P) ratio among those 60 and older increased significantly while the E-P ratio among the younger population declined, on balance.

With the exception of the large decline in the E-P ratio of the younger population, which is difficult to predict in the years ahead, the basic trend of rising employment among older workers is likely to continue for some time for the following reasons:

• The older population is likely to continue growing faster than the younger group.2
• The E-P ratio of the 60 and older group is likely to increase further as the health and educational attainment of older people continues to improve and the demand for older workers persists.3

Older Workers Accounted for All Net Employment Growth in Past 20 Years | St. Louis Fed

All of the Employment Gains for 20 Years Are From Those Aged 60 and Over

 

[TheDarceKnight]

This is why I fukking hate the hate on millennials.

First of all they confuse us with Gen-Z when most of us are in our 30’s or close to it. We fought and bled for this country in Iraq, Afghanistan, and other conflicts that were started after those 2. We were led into Iraq on a lie as well. And we’ve now experienced a 2nd recession after the 1st one in 2008 (which happened when many of us graduating college and entering the job market).

Many of us work multiple jobs and still essentially live paycheck to paycheck, and we older generations with lots of money act like we are lazy and entitled.

It’s frustrating.

 

[88m3]

work for a living

 

[goatmane]

Reminds of this article.
Idk what the trumo numbers are
Prob the same

Nearly 95% of all new jobs during Obama era were part-time, or contract
Investing.com | Dec 21, 2016 12:23AM ET

Decline in standard of living for many.


Investing.com -- A new study by economists from Harvard and Princeton indicates that 94% of the 10 million new jobs created during the Obama era were temporary positions.

The study shows that the jobs were temporary, contract positions, or part-time "gig" jobs in a variety of fields.

Female workers suffered most heavily in this economy, as work in traditionally feminine fields, like education and medicine, declined during the era.






The research by economists Lawrence Katz of Harvard University and Alan Krueger at Princeton University shows that the proportion of workers throughout the U.S., during the Obama era, who were working in these kinds of temporary jobs, increased from 10.7% of the population to 15.8%.

Krueger, a former chairman of the White House Council of Economic Advisers, was surprised by the finding.

The disappearance of conventional full-time work, 9 a.m. to 5 p.m. work, has hit every demographic. “Workers seeking full-time, steady work have lost,” said Krueger.

Nearly 95% of all new jobs during Obama era were part-time, or contract By Investing.com

 

[Eye Cue DA COLI GAWD]

Maybe the over 60 & over crowd just rather work than sit at home . There's a difference working out of necessity and preference.

 

[Consigliere]

We’ve talked about this for a long time. Baby boomers refuse to stop working and are propped up by extracting wealth from younger & future generations. It’s only been exacerbated by COVID.

 

[ExodusNirvana]

Taught these motherfukkers how to use their smartphones all for them to get on Facebook and tell us how entitled we are

 

[Rekkapryde]

We’ve talked about this for a long time. Baby boomers refuse to stop working and are propped up by extracting wealth from younger & future generations. It’s only been exacerbated by COVID.

yup. covered their asses at the expense of future gens and wanna pop shyt while they got pensions and we got 401ks

 

[Wild self]

We’ve talked about this for a long time. Baby boomers refuse to stop working and are propped up by extracting wealth from younger & future generations. It’s only been exacerbated by COVID.

For real. Once you paid off the mortgage and car note, no need to be working at 60+ holding up all the high paying positions.

 

[Retired Account]

The chart and data are very flawed. Age groups 16-24 and 25-59 are very different groups from an employment perspective so they make the make the chart worthless. The age group 16-24 normally has the worst employment numbers and the Cares Act also allowed millions of students to apply for unemployment who otherwise could not.
Also they use raw numbers and not percentages.

 

[NZA]

yup. covered their asses at the expense of future gens and wanna pop shyt while they got pensions and we got 401ks

shyt, i dont even have a 401k

 

[Fillerguy]

This is the 3rd time I've seen the "Elephant Curve" appearing in economic convos in the last 2 days. The data is roughly the same but the time periods measured are vastly different from another....... what does it mean.....or maybe the universe it telling me something.....or maybe the algorithm is trolling

 

[Payday23]

work for a living

Work for survival

 

[Hood Critic]

It's because the pensions most of these people were going to draw their retirement from dicenegrated during the 2008 financial crisis.

A large majority of the country is living paycheck to paycheck, did people think that was just the millennials?