Which generation is most screwed by our current economy? Not the Boomers. They continue to work because many have to. They didn’t save a dime for their retirement. They will get all of their promised entitlements – SS, Medicare, pensions. The millenials have massive student loan debt, few decent paying jobs, and they have to pay for the Boomers. Gen X should be really pissed. They’ve lost the most jobs and they are in their prime earning and spending years. The dynamic described below is not pretty. This materialistic consumer dependent economy needs younger people to spend and buy homes from older people. Without jobs, that ain’t going to happen. I’m sure the 800,000 of part time jobs added in June will surely turn the tide.
Since the recession, the youngest job-hunters are being beaten by the oldest. The number of jobs held by baby boomers rose by 9% from 2007 to 2013, a gain of 1.9 million jobs, while the millennial workforce only snagged 110,000 jobs, up 0.3%, according to new analysis by software firm CareerBuilder and labor market data and software firm Economic Modeling Specialists International. (Generation X jobs fared worse, dropping 2.6 million, or 1%.)
The high level of unemployment could leave a generation of disillusioned young voters — a sizable block. Only 25% of 18- to 29-year-olds will “definitely be voting” in the midterm elections in November, down from 34% five months ago, according to an April 2014 poll carried out by the Harvard University Institute of Politics. Some 47% of 18- to 29-year-olds say they approved of the performance of President Obama, a drop from 54% a year earlier. Millennials also make up a considerably powerful group. There are 89 million millennials compared with 49 million Generation Xers and 75 million baby boomers.
Dow 17,000 WOW. To the moon baby!
Admin ain’t nothing but a goddamned FEAR MONGER!!
Fear, doom and gloom, 365 fucking days a year.
DO NOT LISTEN TO HIM!!! Listen to the Wall Street Journal, instead. These people are vewy vewy smart. They know finances, man. They would not lie to you …. like Admin does.
ALL IS WELL, goddammit.
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“U.S. Jobs Report: 288,000 Positions Added …… Unemployment Falls to 6.1% as Prior Months’ Gains Revised Upward. [Stucky Note: Unemployment WILL be below 6% in a month or two!! There are fuckin jobs …. everywhere!]
The report comes out a day earlier than normal because of the July 4 holiday. The job market has been racking up healthy gains this year, and the latest report is expected to show continued growth.”
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http://online.wsj.com/articles/u-s-jobs-report-unemployment-falls-to-6-1-as-288-000-positions-added-1404390904
It’s rather remarkable the DOW hit 17,000. Maybe the boomers haven’t saved for retirement. Neither will they be able to continue working as old age takes it’s toll.
The census numbers I came up with are Boomers – 75 million, Gen X – 82 million, and Gen Y – 80 million.
While the boomers may have been a relative surge in the birth rate, it appears the surge was sustained over the next two generations.
As socialist policies and economic detachment from reality continue to take it’s toll, even fewer will have saved for retirement.
From that other article on the Dow divisor, this sky rocketing Dow is probably happening when such gems as BOA, Goldman Sachs and the like go up a per cent or two.
Idiots! They should all invest in a printing press. Problem solved.
“Since the recession, the youngest job-hunters are being beaten by the oldest. The number of jobs held by baby boomers rose by 9% from 2007 to 2013, a gain of 1.9 million jobs, while the millennial workforce only snagged 110,000 jobs, up 0.3%….”
Gadzooks, does this mean that experience and necessity trump youth and muscledom?
After 51 yrs in business, I long ago learned the Three Laws of Labour Dynamics:
1. Women trump men as employees, except in muscle-mass applications.
2. If the position allows, hire someone w/at least twenty years experience, even if it costs more initially. It won’t in the end, or at critical junctures.
3. NEVER make your wife the General Manager of your business[es]. Why? Because after a few years she’ll realise she can manage just fine w/o you, and then you’re gone. If you’re lucky, you’ll get your truck, tools, and the road.
Oh yeah, she doesn’t care about the dog: he was always yours, damnit!
JEF, boomers had to get the experience somewhere. The stats show this is harder to come by for Millenials for any number of reasons.