Employment For Young American Men

[aa3]

http://earlywarn.blogspot.com/2011/01/employment-for-young-american-men.html#more

This is Stuart Staniford's blogspot, I always learned a lot from his posts on the oildrum.

The graph above shows the employment-population ratio for men since then, broken out by age. You can see that for all the groups below age 55, employment opportunities fell sharply between 2000 and about 2003, then recovered slightly until 2007 -- but not to the 2000 level. Then they fall sharply in the great recession and have pretty much barely improved at all since then.

The one exception is the age group 55-64 who increased their participation through 2007, but we probably should see this is a sign of societal stress also - less ability for men to retire early.

aa3 comments: That last graph is young black men.. down to just 1 in 3 of them working. It is amazing the contrast when you think about it, older people in western societies living a great retirement on generous pensions, their house paid off, going on nce vacations and generally enjoying life. But for the younger generaton not even a job to be found, and the future is honestly a life on subsistence welfare.

But the vast majority of voters are still those older people, who the mainstream ideas are working just fine for.

Edited January 14, 2011 by aa3

[Ruffneck]

Does this include casual jobs? I imagine most of that young group would be college students.

[Pauly_Boy]

Does this include casual jobs? I imagine most of that young group would be college students.

Most of the young are collage students, in America, pull the other one! It's just another example of how the youth are the main victims of the recession, youth unemployment is a massive issue!

[xux42]

..older people in western societies living a great retirement on generous pensions, their house paid off, going on nce vacations and generally enjoying life. But for the younger generaton not even a job to be found, and the future is honestly a life on subsistence welfare.

But the vast majority of voters are still those older people, who the mainstream ideas are working just fine for.

My house is nearly paid for and my private sector pensions are properly funded. I will help my sons get established - they are doing their part as well by getting globally desirable skills & qualifications in medicine & science.

Not sure why other people suffering should make me feel guilty for going on some rather nice holidays and generally enjoying life after building a modest amount of wealth through hard work in the private sector.

Agree that scumbags who extracted fat salaries and bonuses from public sector roles, often returning after retirement as 'consultants' should be feeling very bad about themselves.

Bet they don't though.

Being scumbags 'n all.

[aa3]

My house is nearly paid for and my private sector pensions are properly funded. I will help my sons get established - they are doing their part as well by getting globally desirable skills & qualifications in medicine & science.

Not sure why other people suffering should make me feel guilty for going on some rather nice holidays and generally enjoying life after building a modest amount of wealth through hard work in the private sector.

Agree that scumbags who extracted fat salaries and bonuses from public sector roles, often returning after retirement as 'consultants' should be feeling very bad about themselves.

Bet they don't though.

Being scumbags 'n all.

Individual and collective guilt is hard to assign. Like look at the old Soviet Union. And imagine a guy who has worked his way up and become the city director for the water utility in his city. In the summer he enjoys nice vacations with his family, and lives pretty well. And for arguments sake lets say he did a pretty good job running the water in his city, considering all the obstacles placed in his path.

Is it his fault individually that the Soviet Union was a failing society, nto able to do what it was in days gone by? No he was just doing his job and getting rewards promised to him for doing it. Yet even though no on was individually responsible, collectively the nation was failing.

The main thing I hear from our leaders lately is excuses why its not their fault things are failing. Some really great excuses like a judge said they can't do that, or this treaty a former leader signed makes them do this. To me they can come up with all the excuses they want, but if they can't ge the job done they need to get out of the way.

[aa3]

Most of the young are collage students, in America, pull the other one! It's just another example of how the youth are the main victims of the recession, youth unemployment is a massive issue!

Its the dog that didn't bark. Most firm do not actually fire masses of people, what they do is not replace people when they retire or otherwise leave. So in normal times there is constant job openings as people leave, and that is how young people get hired.

But this time firms and governments just are not hiring when people leave. So young people are not getting hired. It doesn't make the news when someone doesn't get fired. Its just a gradual growing line of young people with no job.

As it drags on for years, those young people will give up looking and become middle aged people in time. They won't even be on the unemployment statistics if they are not looking. So the chart I am starting to watch is labour force participation. Month by month in western nations the percentage of the adult population in work is declining.

Again its gradualy it snot like we wake up tomorrow and find 1 in 10 of us unemployed. Its maybe 0.1% a month change.. mainly from people retiring and not being replaced.