Are demographics really to blame for the struggling economy?

posted at 6:31 pm on April 7, 2013 by Erika Johnsen

The March jobs report saw the civilian labor force shrink by another 496,000, bringing the participation rate down to 63.3 percent — America’s lowest rate since the era of Jimmy Carter. Ouch.

Almost immediately after the awful news, the White House trotted out their chief economist Alan Krueger, who tried to defend and explain away the terrible report with several lines of reasoning, including that some of the workforce shrinkage is due to the demographic shifts of an aging population: “The labor force participation rate peaked in 2000 because of demographics. We are getting older as a nation. Its an issue we face.”

Nice attempt at sugarcoating there, but not really.

The financial crisis and subsequent Slowest Recovery Evah has older workers holding off on retirement in droves, and of the job creation that the economy is seeing, a lot of it is concentrated in the older age brackets. Using information from the BLS, ZeroHedge put together this handy little chart illustrating that, in the past few years, the most robust job creation has been for the 55+ age group, with the lower brackets seeing a lot of losses:

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/03/jobs%20young%20vs%20old%20granular.jpg

The problem isn’t so much an aging workforce as it is simply a terrible economy that can’t generate jobs for people in their key work years, while younger workers’ option are increasingly limited to part-time work and veteran workers delay retirement. Bad times all around.


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Blame where blame is fully due.

Satan laughing with delight the day the music died
He was singing, bye bye Miss American Pie
Drove my Chevy to the levee, but the levee was dry
Them good ol’ boys were drinking whiskey and rye, singing…
This’ll be the day that I die
This’ll be the day that I die
So, the question remains:
How long will America suffer and to what depths?

Schadenfreude on April 7, 2013 at 6:33 PM

Bye bye

Schadenfreude on April 7, 2013 at 6:33 PM

…what?…it’s not Bushes fault?

KOOLAID2 on April 7, 2013 at 6:36 PM

damn old ppl, always screwing us younger generations!!

nonpartisan on April 7, 2013 at 6:39 PM

The March jobs report saw the civilian labor force shrink by another 496,000, bringing the participation rate down to 63.3 percent — America’s lowest rate since the era of Jimmy Carter.

…I say we blame Jimmy Carter!

KOOLAID2 on April 7, 2013 at 6:45 PM

damn old ppl, always screwing us younger generations!!

noforeskin on April 7, 2013 at 6:39 PM

…you were screwed when you were born!

KOOLAID2 on April 7, 2013 at 6:46 PM

Obamacare insurance is going to take most of the money the young workers earn in the years to come,and they are to dumb to know it.

docflash on April 7, 2013 at 6:51 PM

KOOLAID2 on April 7, 2013 at 6:46 PM

go sit in the corner, grandpa

nonpartisan on April 7, 2013 at 6:51 PM

noforeskin on April 7, 2013 at 6:39 PM

…you were screwed when you were born!

KOOLAID2 on April 7, 2013 at 6:46 PM

KOOLAID, ever wonder why these sick dipshits like to come on conservative web sites and never make a point that they can back up or would make one think? Instead they just spew nonsense, get beat down and mess themselves with pleasure.

arnold ziffel on April 7, 2013 at 6:53 PM

It is a stunning lack of freedom in the enterprise system.

AshleyTKing on April 7, 2013 at 6:55 PM

damn old ppl, always screwing us younger generations!!

nonpartisan on April 7, 2013 at 6:39 PM

That and your arrogant sense of entitlement.

Chuck Schick on April 7, 2013 at 7:00 PM

go sit in the corner, grandpa

nonpartisan on April 7, 2013 at 6:51 PM

Uhh yeah. Can I get a Big Mac, small fries, and medium coke, no ice?

WryTrvllr on April 7, 2013 at 7:00 PM

go sit in the corner, grandpa

nonpartisan on April 7, 2013 at 6:51 PM

…no grandpa yet…and I can’t!…I can hear you down below me… in the same corner in the basement…going up and down on yourself!

KOOLAID2 on April 7, 2013 at 7:03 PM

Besides nonpartisan,
you should be THRILLED older folks are working longer.
Otherwise your democrat friends would take the other 60 % of your earnings to pay for their social security.

Consider it a gift. They WANT to pay for YOUR condoms.

WryTrvllr on April 7, 2013 at 7:06 PM

damn old ppl, always screwing us younger generations!!

nonpartisan on April 7, 2013 at 6:39 PM

If we had implemented Obamacare quicker, the Death Panels might have solved this problem for us.

socalcon on April 7, 2013 at 7:10 PM

ever wonder why these sick dipshits like to come on conservative web sites and never make a point that they can back up or would make one think? Instead they just spew nonsense, get beat down and mess themselves with pleasure.

arnold ziffel on April 7, 2013 at 6:53 PM

…he’s a spermshitwit?

KOOLAID2 on April 7, 2013 at 7:10 PM

The federal government is squarely to blame. A lot of money has been spent in the last 10 years, financed courtesy of the Federal Reserve, and a lot more is about to spent when Obamacare takes off. The jobs will not be coming back anytime soon.

rickv404 on April 7, 2013 at 7:13 PM

If that is the case, and they knew it, why in hell did they pass Obamacare; it relies on shrinking age class to burden the load?

Tater Salad on April 7, 2013 at 7:17 PM

The term “lying sons of a bitches” comes to mind.

Mason on April 7, 2013 at 7:17 PM

Demographics certainly play a role in bankrupting cities. Once you reach a critical mass it sets off an irreversible chain of events that culminates in insolvency like we have seen in San Bernardino, Atwater and Detroit.

Wigglesworth on April 7, 2013 at 7:18 PM

If redistribution of wealth and getting back at white people for “years of taking advantage of darker skinned people” was not the economic goal of this WH, it would be easier to grow the economy.

Tater Salad on April 7, 2013 at 7:19 PM

Economic News Release
**********************

Table A-2.
*********

Employment status of the civilian population by race, sex, and age

HOUSEHOLD DATA
**************

Table A-2. Employment status of the civilian population by race, sex, and age
[Numbers in thousands]
**********************
**********************

http://www.bls.gov/news.release/empsit.t02.htm

canopfor on April 7, 2013 at 7:20 PM

…a group without a serious intellectual foundation…
 
bayam on April 7, 2013 at 4:44 PM

rogerb on April 7, 2013 at 7:21 PM

Obvious troll is obvious.

Kataklysmic on April 7, 2013 at 7:22 PM

Bad times all around.

Forward!

visions on April 7, 2013 at 7:24 PM

ever wonder why these sick dipshits like to come on conservative web sites and never make a point that they can back up or would make one think? Instead they just spew nonsense, get beat down and mess themselves with pleasure.

arnold ziffel on April 7, 2013 at 6:53 PM

arnold ziffel:

A Socialist/ProgTard Blog Titillation Fetish Sumpin,me thinks!!
(sarc)

canopfor on April 7, 2013 at 7:24 PM

Bad times all around.

Forward!

visions on April 7, 2013 at 7:24 PM

visions:Yuppers,……

…Yo Ho,Mount Up,and Lean….(sarc):)

canopfor on April 7, 2013 at 7:27 PM

I don’t like to be crude buy occasionally it’s necessary for clarity. Frankly, the “White House” is full of more crap than a fattened Thanksgiving turkey. It does, however, accrue some assistance from the hoard of pseudo-intellectual leftist trolls that inhabit this board from time-to-time.

rplat on April 7, 2013 at 7:29 PM

We’ll soon be back to statistical full employment if people keep (allegedly) giving up looking for jobs.

forest on April 7, 2013 at 7:32 PM

Michelle Obama will turn 50 soon.

I blame her.

profitsbeard on April 7, 2013 at 7:35 PM

Michelle Obama will turn 50 soon.

I blame her.

profitsbeard on April 7, 2013 at 7:35 PM

And apparently will be single too.

Electrongod on April 7, 2013 at 7:39 PM

Lies and liars. Shameless

pat on April 7, 2013 at 7:42 PM

***partsan

You define vacuous.

When was the last time here you challenged anyone on the left side of the aisle. You’re full of it.

CW on April 7, 2013 at 7:43 PM

What’s fifty in Bigfoot years?

viking01 on April 7, 2013 at 7:45 PM

Nice attempt at sugarcoating there, but not really.

When do we stop being nice? Alan Krueger didn’t sugarcoat anything. He lied his ass off. He’s the Susan Rice of job reports. The GOP/conservatives need to stop pretending that we can work with these people. The rat-eared devil’s administration has been a disaster at job growth. We need to start every conversation with the stated fact that these people have ruined the economy and any solution they propose is wrong for the working American no matter how much it protects the worthless parasites that voted them into office.

Happy Nomad on April 7, 2013 at 7:48 PM

Anything BUT the Marxist/progressive policies that have failed every time they have been tried.

Got it?

Good.

jukin3 on April 7, 2013 at 7:52 PM

Lon Chaney, the silent film actor, was called The Man of a Thousand Faces. Obama is The Man of a Thousand Excuses” … … and just as many lies.

VorDaj on April 7, 2013 at 7:54 PM

The March jobs report saw the civilian labor force shrink by another 496,000, bringing the participation rate down to 63.3 percent — America’s lowest rate since the era of Jimmy Carter.

…I say we blame Jimmy Carter!

KOOLAID2 on April 7, 2013 at 6:45 PM

I say we blame Columbus, if he hadn’t been sailing the ocean blue this never would have happened.

RickB on April 7, 2013 at 7:55 PM

Michelle Obama will turn 50 soon.

I blame her.

profitsbeard on April 7, 2013 at 7:35 PM

That’s still less than her hip size.

VorDaj on April 7, 2013 at 7:56 PM

What’s fifty in Bigfoot years?

viking01 on April 7, 2013 at 7:45 PM

This.

profitsbeard on April 7, 2013 at 7:57 PM

Root of Obama hemlock digged in the dark.

VorDaj on April 7, 2013 at 7:59 PM

Rats. Can’t view youtube from this location.

viking01 on April 7, 2013 at 7:59 PM

President Pinocchio: Perpetual Pathological Prevaricator, prevaricating pathologically perpetually.

VorDaj on April 7, 2013 at 8:00 PM

Barack Isuzu has grown the economy so that it’s now bigger than a 2,000 pound cheeseburger.

VorDaj on April 7, 2013 at 8:01 PM

This.

profitsbeard on April 7, 2013 at 7:57 PM

Listen close, I heard “eat your vegetables and let’s get up and move.”

arnold ziffel on April 7, 2013 at 8:03 PM

This.

profitsbeard on April 7, 2013 at 7:57 PM

Listen close, I heard “eat your vegetables and let’s get up and move.”

arnold ziffel on April 7, 2013 at 8:03 PM

Arrrrrrugula!

profitsbeard on April 7, 2013 at 8:05 PM

Hope and for Change.

trigon on April 7, 2013 at 8:06 PM

Gee, I wonder what educational trend started with those currently under 55. Could it be the “Money for Nothing” (lack of) ethic, which morphed into the “Bang on the Drum All Day” (with no desire to work) ethos.

Steve Eggleston on April 7, 2013 at 8:07 PM

It is a stunning lack of freedom in the enterprise system.

AshleyTKing on April 7, 2013 at 6:55 PM

This.
a) Increased EPA emissions regulations
b) Increased regulations for vehicle mileage standards
c) Increased regulation due to ObamaCare
d) Uncertainty in taxation due to ObamaCare
e) Uncertain fuel prices due to EPA formulation mandates
f) Reduced fuel supply due to shutdown of oil exploration permits on PUBLIC lands (No Jugears, yo don’t get to take credit for increased production on PRIVATE lands that you have not yet figured out how to shut down, though you are trying — see how they are trying to get fracking shut down)
g) Reduced fuel supply and oil company employment due to shut down of off-shore oil drilling while encouraging other countries to do so
h) Lamenting the fact that he is unable to get even more regulation and taxes passed in the form of “climate change” controls

Yeah, I just can’t imagine why all those regulations could possibly cause businesses to hold back on investment or people to not try to start businesses.

AZfederalist on April 7, 2013 at 8:23 PM

Steve Eggleston on April 7, 2013 at 8:07 PM

Most of us who cast our first vote for Ronald Reagan are still in our 40s. At each stage of our aging we have been more conservative than those who preceded us and those that followed were when they were that age. We are proud to have been the Young Turks of the Reagan Revolution. Please don’t lump us in with the Daily Show generation.

Ted Torgerson on April 7, 2013 at 8:27 PM

Rats. Can’t view youtube from this location.

viking01 on April 7, 2013 at 7:59 PM

International restrictions? ProVPN has a free version of their software; I occasionally use it when my DNS server’s site-block rules go stupid.

MelonCollie on April 7, 2013 at 8:32 PM

This.
profitsbeard on April 7, 2013 at 7:57 PM

This.
.

cntrlfrk on April 7, 2013 at 8:34 PM

…you were screwed when you were born!

KOOLAID2 on April 7, 2013 at 6:46 PM


One of the thoughts that comforts me when the trolls be trolling …

They are literally too stupid to understand THEY are the people targeted for the FEMA camps in the future.

If you heard all the SCOAMF’s voters into the camps, you can drastically lower the cost of their maintenance and guarantee 100% support for his policies. Any dissenting votes will help lower the cost of operations and be put into the “Chicago” category – where they dead keep voting the way the bosses want them to.

PolAgnostic on April 7, 2013 at 8:42 PM

Until the bond market regains any credibility (i.e. interest rates go above 0%), most of those older Americans won’t retire.
It’s interesting that that these workers are to blame for the young not getting jobs, and on the flip-side are blamed for low worker participation rates by supposedly leaving the workforce. It can only be one way or the other.

J_Crater on April 7, 2013 at 8:46 PM

Demographics???

Is that the new latest codeword for the Obama Administration??

Anyway, in today’s fiscal/political climate (thank you, Prezdit Obama) it just does not pay to be in business…and when it does, one is immediately punished by yet another library of new regulations and hidden taxes all designed to “level” the playing field.

A large nuclear device on Wall Street would have a far less “leveling” effect than this anti-business Progressive governance we are forced to suffer.

coldwarrior on April 7, 2013 at 10:03 PM

Just wait until 20 million illegals get amnesty. Then the job market will really take off, lol.

xblade on April 7, 2013 at 10:04 PM

xblade on April 7, 2013 at 10:04 PM

Once that happens…that amnesty thing…the next question will be “can Latin America absorb 20-30 million unemployed recently made legal aliens from the United States?

Imagine…just like the Okies in the Dust Bowl years…millions of unemployed, unemployable Latinos trekking south…to find work. Miles and miles of old pick-up trucks, vans and SUV’s filled with disgruntled humanity and all they possess hitting the highways of Mexico, heading further south.

Mexico might even build that fence nobody in the United States government wants to build. To keep the illegals out…of Mexico.

Oh, the irony…

coldwarrior on April 7, 2013 at 10:12 PM

What can you really expect from a guy whose whole playbook is divide and conquer. Blacks against whites. City against rural. public versus private. Rich versus poor. And now, in the face of absolutely abysmal results from his disastrous policies, young versus old.

And people live nonpartisan and bayam think they will come out ahead. Where is the evidence of that the two of you? Oh yeah. You got a phone. Use it while it still works.

Just useful tools while he ushers in his version of the tragedy of the commons.

WryTrvllr on April 7, 2013 at 10:19 PM

Just wait until 20 million illegals get amnesty. Then the job market will really take off, lol.

xblade on April 7, 2013 at 10:04 PM

Invest in red diapers, baby.

profitsbeard on April 7, 2013 at 10:24 PM

AYE, Laddie……..mmmBut DO YA mmHAAAHTE mmmBOOOOOOOOOOOOOOOOOOOSH?!!!

williamg on April 7, 2013 at 10:30 PM

damn old ppl, always screwing us younger generations!!

nonpartisan on April 7, 2013 at 6:39 PM

I’m still working because my kids flamed out in college the first time around. I was supposed to be retired by now. Didn’t happen. So blame both your peers and their propensity for voting Democrat.

So I take up one of those jobs. I estimate I’ll be working until over 70, thanks to what the Democrats have done to college tuitions. I may have to work longer to get my son enough scratch for his home — more thanks to Democrats and their attempts to keep inflating the housing bubble…

If I’m really unlucky, they’ll do something to the estate tax and then my partly disabled daughter will be out on the street after having to sell the family home for taxes. Sadly, that home is worth over a million dollars — but you couldn’t tell it either from the street or by walking through it…there’s no way my kids, even if they pooled their money, could buy what my wife and myself bought when we were their age. Once, the people living around me were working class and middle class — now, they are mostly lawyers and doctors. It’s amazing.

unclesmrgol on April 7, 2013 at 11:07 PM

Mexico might even build that fence nobody in the United States government wants to build. To keep the illegals out…of Mexico.

Oh, the irony…

coldwarrior on April 7, 2013 at 10:12 PM

They already have. Ask anyone from Belize or Honduras.

unclesmrgol on April 7, 2013 at 11:10 PM

Yes.

Demographics are making it more difficult to elect politicians who are willing to let the economy grow, rather than siphon as much from it as they can for their kind of people.

And by their kind of people I mean Public Service leeches, not an ethnicity.

HitNRun on April 7, 2013 at 11:14 PM

Mexico might even build that fence nobody in the United States government wants to build. To keep the illegals out…of Mexico.

Oh, the irony…

coldwarrior on April 7, 2013 at 10:12 PM

They already have. Ask anyone from Belize or Honduras.

unclesmrgol on April 7, 2013 at 11:10 PM

Are you really f*cking serious?

The world really has turned upside down!!!

MelonCollie on April 7, 2013 at 11:18 PM

Who’s to blame for the struggling economy?

Demographics: No!

Demo-grotesqueries: Yes!

Dr. Charles G. Waugh on April 7, 2013 at 11:30 PM

The problem isn’t so much an aging workforce as it is simply a terrible economy that can’t generate jobs for people in their key work years, while younger workers’ option are increasingly limited to part-time work and veteran workers delay retirement.

All around me businesses are cutting to part time because of Obamacare mandates. Friends are trapped in part time jobsbut cannot take a second part time job, because employers are demanding open availability as they try to spread a too small workforce over the working hours.

Obamacare makes every employee a burden in the nickel and dime jobs. The upper level jobs may take a smaller percentage hit on Obamacare, but without the middle class employment, our consumer driven economy cannot support the this steak eaters either.

Quantitative easing has devalued the dollar. 70 percent of Treasuries are being bought by the US, which then prints bogus dollars it borrowed from itself. Whatever the gov reports state, grocery bills are jumping up.

Right now EU money is helping drive the stock market sucker rally. The so called housing rally, 30 percent of buys are investors buying bank homes, which keeps non bank homes from selling. People are still trapped underwater. As the investment homes sell first, the investors take the profits and buy more bank homes, keeping the market dead. This is a huge transfer of wealth since the average american’s main wealth was their home.

The Housing bubble was just a symptom. Big employers like Walmart (which bet on Obamacaretaking out competition) might have been too short sighted to see if the small jobs went away, no one would have money to shop at Walmart. I know some Walmart workers. They have overstock coming out the ears

entagor on April 7, 2013 at 11:39 PM

“…and veteran workers delay retirement.”

Or they actually DO retire, but take a part-time job, however menial, meaning that yet another entry-level job is not available for an unskilled kid trying to enter the workforce. Just look at the greeters and cart-pushers at your local Wal-Mart.

Owen Glendower on April 8, 2013 at 12:21 AM

Most of us who cast our first vote for Ronald Reagan are still in our 40s. At each stage of our aging we have been more conservative than those who preceded us and those that followed were when they were that age. We are proud to have been the Young Turks of the Reagan Revolution. Please don’t lump us in with the Daily Show generation.

Ted Torgerson on April 7, 2013 at 8:27 PM

So where did we screw up on passing that to the succeeding generation?

Steve Eggleston on April 8, 2013 at 12:51 AM

Are you really f*cking serious?

The world really has turned upside down!!!

MelonCollie on April 7, 2013 at 11:18 PM

http://www.vdare.com/articles/memo-from-mexico-by-allan-wall-10

Mexico has its own illegal alien problem, and it treats that problem in ways that many of you would approve.

unclesmrgol on April 8, 2013 at 1:47 AM

go sit in the corner, grandpa

Anon 7 on April 7, 2013 at 6:51 PM

Busted. Hi, sesqui!

Del Dolemonte on April 8, 2013 at 1:59 AM

After having wiped out my retirement due to 4 years of unemployment I know I will be working until dead. At least I hope so anyway. My biggest fear is being canned again and not finding employment. I would like to think my children would support mom and dad at that point but I don’t know if I want to burden them so just as they are struggling to make their own way.

So yeah, I’m an old codger sucking up a job a young person could have.

One of the thoughts that comforts me when the trolls be trolling …

They are literally too stupid to understand THEY are the people targeted for the FEMA camps in the future.

PolAgnostic on April 7, 2013 at 8:42 PM

Same here. Just look at history. They’re not called useful idiots for nothing and are to stupid to realize that very quickly become useless idiots after the “utopia” is achieved.

Dr. Frank Enstine on April 8, 2013 at 8:28 AM

Here’s why over 50s are getting the few jobs that are being created.

Drug tests.

With the abundance of lawyer driven liability suits, and disablity liability claims, employers are actively looking for a reason NOT to hire applicants, hence drug testing, financial checks and rigorous background checks that today’s under 50s have a harder time qualifying.

gonnjos on April 8, 2013 at 8:55 AM

The problem isn’t so much an aging workforce as it is simply a terrible economy that can’t generate jobs for people in their key work years

Apparently math is racist.

Physics Geek on April 8, 2013 at 9:13 AM

This ia ALSO about the superior work ethic of the older generation. We’ve all seen it; older folks at the registers and behind the counter of major retail, even as stockers at markets. It’s because these jobs used to be the up-and-coming positions of the younger set, many consider such as BENEATH them or unwilling to show the daily work ethic for such jobs. The older generation KNOWS there is no legitimate work ‘beneath’ someone, that is as low as living ‘off the dole’.

michaelo on April 8, 2013 at 9:26 AM

So where did we screw up on passing that to the succeeding generation?

Steve Eggleston on April 8, 2013 at 12:51 AM

Some of us didn’t. We homeschooled 3 out of 4 kids. We have made a lot of sacrifices, but they are paying off handsomely!

My oldest daughter (22) will finish up college in a month as a health nutritionist. She just landed a health improvement position at a very employee-friendly manufacturing company. She beat out 50+ applicants, including at least one PhD! She did the networking, research, and pushed to get this job. Her (2 hr!) interview went so well they cancelled the rest of them and offered her the position the same day! She became a very strong Christian 2 years ago… and has paid for most of her college herself.

My next oldest daughter (21) is still working at Kroger, and has our grandson. But she is focusing on making her marriage work. She is a HUGE gun supporter, has her own shotgun, and likes to go shooting regularly!

My son (20) is going into music business at a small local music college and is running circles around his classmates. Because we make him pay for part of his tuition, and works as a Papa John’s driver, he gets ticked at his classmates who have everything paid for and screw around. He jumped into the political fray when John made the comment that Obamacare would strongly (and negatively) impact workers. He defended Papa Johns and was furious at the ignorance of people his age. He’s never been political until now, but is strongly conservative and a faithful Christian. He plays in the worship band at our church.

My youngest daughter (15) is strongly independent and into horses. She helps my wife with her business (horse boarding) and will probably take it over after she gets a 2 year Ag degree. She thinks politics is “stupid”, but also the same of government. She is also a conservative, and loves to shoot my SKS!

3 Children are a heritage from the Lord,
offspring a reward from him.
4 Like arrows in the hands of a warrior
are children born in one’s youth.
5 Blessed is the man
whose quiver is full of them.
They will not be put to shame
when they contend with their opponents in court.

–Psalm 127:3-5

Many of my conservative friends have also homeschooled with similar results.

dominigan on April 8, 2013 at 9:26 AM

Recovery…What forking recovery??? This economy is completely stagnant and will stay that way till we can get someone in the White House that has some economic sense…

supersport667 on April 8, 2013 at 9:52 AM