Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The difference is between an economy with adults doing adult work at adult wages
vs one where adults (who can find it at all) are too often doing teenager work at teenager wages.
Paying them more to do those teenager jobs doesn't solve the underlying problem.
One more time:
Our problems are far less about not having enough jobs (let alone good paying ones) for all that
might want one than being about having far too many warm bodies available than the number of jobs
that actually need doing.
The figure I have seen is 8K bommers retiring a day.its expect to increase to 10K a day and continue the next 19 years. that is 24oK a month retiring .Boomers are now right at 26% of the population. Its really hard to say with automation ;tighter credit standards to stop the huge credit bubble that caused much of the problem what the normal will be. They are just about to pass Dodd/Frank which means more documentation to prove ability to replay mortgages required of lenders. Who knows what changes are coming in regulation that effects consumers and thus jobs.
The figure I have seen is 8K bommers retiring a day.its expect to increase to 10K a day and continue the next 19 years. that is 24oK a month retiring .Boomers are now right at 26% of the population. Its really hard to say with automation ;tighter credit standards to stop the huge credit bubble that caused much of the problem what the normal will be. They are just about to pass Dodd/Frank which means more documentation to prove ability to replay mortgages required of lenders. Who knows what changes are coming in regulation that effects consumers and thus jobs.
That is not surprising there has always been that. I know people who retire and then start a second job. That compared to 240K a month/8K a day now retiring. is high number. Its expected to increase over next 19 years to 10k a day. I am no Obama fan but people didn't just suddenly have to go back to work because Obama became president altho some may have had to because of looses in 2008 crash or over extended more than thought.
Actually, the last THREE recessions have all had the same jobless recovery as this one. The 1992 recession you can blame on Bush 1, The 2000 recession actually started under Clinton, and 2007 went to Bush 2.
Something changed in 1990. My guess is that it was the shift to the service economy and illegal immigration.
Illegal immigration leads to more workers getting paid and working outside the "official" taxable and reportable economy.
In a service economy, you can always delay hiring. In a manufacturing economy, if you don't hire once you max out on overtime for workers you output goes down.
Anyway, you can blame both political parties for the change.....MAYBE. I am only guessing on the reasons.
I am surprised that there is not more economic research into this basic change in our economic system. This is pretty important stuff and everybody seems to be blaming everybody else without any analysis.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
