Why The Middle-Aged Are Missing Out On New Jobs
Saturday, April 2, 2011
If I can JUST make it to retirement age I will be able to find a job!! Huh? That does not sound right, but may be true...
Below is a chart of the "winners and losers" in the hunt for jobs in the last 15 months. The group in the 45 to 54 range are large net losers in terms of employment. Traditionally, these years have been the peak career and earning years for most people. The headline for this blog entry seems non-sensical, but there seems to be a grain of truth in it...at least at this point in our economic history.
Why The Middle-Aged Are Missing Out On New Jobs
Why The Middle-Aged Are Missing Out On New Jobs
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The old folk should be working. That's part of the entire crux of this problem, is that they aren't working.
ReplyDeletePre-twentieth century, the elderly either continued to work until they either died, or had enough money to become old money, or they lived with their children. It helped that the average lifespan was only like 20 years.
That idea persisted for centuries. It wasn't until the twentieth century that the populous began to realize, with the invention of electricity, rapid urbanization, and drugs like pennisilin, that they might be able to game the system and make an entire generation work for them to live comfortably. So what do they do? Wait for the then-old folk to die, take over government, and put in their "entitlement programs". With the help of two world wars, it worked. And so, now everyone in the baby boomer generation had to support two or three people instead of just themselves.
Now, to enter the fatal blow in this "fool proof" system. Education. It's common knowledge that as education rates rise, birth rates fall. When the government began giving out free money for school to people who fought in wars, it implant the idea of education in their heads. This has led to a increasingly smaller birth rate, as they instill the idea of education into the heads of their children, and their children's children, and so on. Now, the baby boomers think they are entitled to what their parents got. However, the average working is now trying to pay for four to five people, while the cost of living continues to increase, and wages don't really.
So, in the end, I guess I'm saying that they should be working their own way. It takes the strain off of the Gen-X/Gen-Y's that are currently working for them.