As we have pointed out many times in the past (most recently here), the jobs “recovery” has gone disproportionately to older workers at the expense of younger workers.
In fact, as Bloomberg points out, the employment-to-population ratio for those 65 and over is at its highest level since the early 1960’s.
This creates a bottleneck for younger workers who are looking to move up from their current roles, and also those that are trying to gain entry level employment but can’t until the current occupiers of those seats can move up. The situation doesn’t appear to be on the verge of getting any better either, as 27% of Americans say they will “keep working as long as possible” according to a 2015 Federal Reserve study – and to make matters worse (for younger generations), 12% of Americans say they don’t plan to retire at all.
This post was published at Zero Hedge on 05/14/2016.
Follow on Twitter
Recent Comments