To take a contrarian view, maybe what is happening is that so many full-time boomer workers are retiring that all of the full-time positions they vacate can only be filled at a breakeven rate by the gen nexters.
Meanwhile, newly retired boomers will still work part-time and gig jobs so that is fomenting the growth in creation of the many part-time and gig positions; as firms can only create new positions under terms the available workers are willing to accept; and the retired boomers will not accept full-time employment.
So the Obama admin is taking a lot of heat for the 'quality' of jobs created under the time of their administration with criticism of part-time and gig work; but that might be just a result of the demographics and available worker preferences and was always beyond their control entirely.
If so, we may be closer to true full employment than those believing we are far from it are being led to believe; and any new significant Trump fiscal stimulus may not be well received at this point.
Older Americans are retiring in droves https://t.co/17a431wE4b via @LJKawa pic.twitter.com/4CcHVUxx3H— Bloomberg Markets (@markets) January 6, 2017
4 comments:
Unemployment could be addressed by lowering the retirement age, which would create more space in the labor market. Of course retirement 'benefits' would need to be increased to at least the point of marginal livability for that to work. A glut of cheap labor is the foundation of the 1%.
Well the morons are looking at raising the age....
Right:
"young people do not have access to jobs and/or quality jobs" > "let's rise retirement age"
Excellent logic there idiot bureaucrat in the government. They think they cannot comply with the social contract, this is happening all over the west, this is why they are "suddenly" looking to push retirement age under umbrella of bullshit reasons.
Shit meets fan when all those old angry voters start to realise they cannot retire because "out of money!".
Yes, lowering the retirement age would be a great, common sense idea, but too bad the morons always run to the bullshit "out of money" excuse not to consider this simple solution. Also, I'm sure these people that retire earlier would be in much better shape from a health standpoint and would have time to get screened for conditions earlier and being able to live longer.
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