See other Business/Finance Articles
Title: Only Old Workers Found Jobs In December
Source:
[None]
URL Source: https://www.zerohedge.com/news/2019 ... -americans-found-jobs-december
Published: Jan 4, 2019
Author: Tyler Durden
Post Date: 2019-01-04 10:53:19 by Horse
Keywords: None
Views: 674
Comments: 3
Two things stood out in the December jobs report: first, the magnitude of the monthly increase in payrolls, which at 312K was the highest in 10 months and second, the stark increase in annual wage growth.As Reuters Jeoff Hall notes, 12 of the 15 major industry sectors (4 in goods-producing, 11 in service-providing) have 12-month growth rates in avg hourly earnings that exceed the Fed's 2.0% inflation target (with exceptions being Transportation & Warehousing (+0.7%), Nondurable Gds Mfg (+0.9%), Other Services at +1.8%). However, reading between the lines reveals another somewhat unpleasant signal and may explain the impressive wage growth: the bulk of jobs in December went to aged workers, those 55 and older, who increased by 183K (according to the Household Survey). Meanwhile, the prime age group, those aged 25-54, actually declined by 11K in December. And since it was the younger age cohorts that saw virtually no job growth in December - i.e., those workers who have the least wage negotiating leverage - it explains the impressive wage growth, but it is also a potentially troubling indicator as it confirms that employers are primarily focusing on hiring those workers who already have experience, instead of permitting younger entrants to join the labor force. How does the data look on an annual basis, from December 2017 to December 2018: a little better, with the biggest age cohort, those 25-54 rising by 1.3 million, but it was once again the oldest workers, those 55 and older that have seen the bulk of job gains in the past year, confirming that younger Americans are having an increasingly harder time to find jobs when they are, well, competing with their parents, who have been unable to retire as a result of ten years of ZIRP which in turn crushed savings for an entire generation of (elderly) Americans, forcing them to stay in the job market well beyond their retirement age. 
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: All (#0)
When I worked in Silicon Valley at a website, I had a dozen employees who filled orders. Before we had scanners we had to find stock to fill orders by using the alphabet. People of any race who graduated from California public schools did not comprehend our alphabet. By contrast, young people who graduated from 8th grade in Mexico did understand the alphabet. But, as I said, Mexicans who went to California schools were worthless. Example. They did not understand that Best was to the left of Better and Boston was off to the right. My boss wanted to fire an older woman who had graduated from high school 43 years previously but he had to go somewhere. I saw her as gold. And had her alphabetizied my shelves. The boss saw her value.
The Truth of 911 Shall Set You Free From The Lie
I see this as nothing but good news. Let us older folks with experience but suffering from life issues get the better jobs amd let young and inexperienced prove their merit same as me, through actions. If they are worth a salt they can out preform then they damn sure deserve a pay raise and better standing and they cant keep up fuck em, to the bottom of the totem pole with em. Capitolisim at its finest amd my labor is worth more than thwres. ______________________________________ Suspect all media / resist bad propaganda/Learn NLP everyday everyway ;) If you don't control your mind someone else will.
What the numbers don't show is the number of younger applicants vs. the number of older applicants who sought the available jobs, or the number of younger people employed by Soros as SJWs. (They prolly wouldn't be shown in any employment stats.)
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
#2. To: Horse (#0)
(Edited)
#3. To: Horse (#0)
Top • Page Up • Full Thread • Page Down • Bottom/Latest