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PostPosted: Mon Jun 01, 2015 2:28 pm    Post subject: 1111 Reply with quote


If the country was at full employment in 2007, we gained only 3 million jobs since then.

If 125,000 jobs were needed each month to keep up with population growth, we needed 11 1/4 million jobs, since 2007, to get back on track.

And, too many jobs, since 2007, have been part-time jobs.


And, part of the “train wreck” is declining real income of younger workers, while older workers postpone retirement to pay-down debt or build-up saving, that has to weigh on spending and borrowing, particularly in housing, and housing-related goods, while student loan debt continues to soar.


John Cummings:

This is totally wrong. Older workers aren’t postponing retirement at all. They are speeding it up as the stock market recovered.



Then why, since the last recession, has the 55 and older labor force participation rate held up near the highest level in over 50 years, while the total labor force participation rate had a steep decline and reached the lowest level in 40 years.

And, why is the 55 and older unemployment rate so much lower than the overall unemployment rate.


And, there’s a lot more to it than the stock market:

“In 2012, 62 percent of survey respondents aged 45 to 60 said that the recent recession has made them consider postponing retirement, up significantly from 42 percent in 2010.

Job losses, pay cuts, and significant declines in home values were among the major factors driving these planned delays…Workers who drew from their savings to help get through the tough financial times of recent years were also more likely to plan a delayed retirement.

Falling interest rates on even relatively stable investments…The yield on a 10-year Treasury bond was just about 3.5 percent two years ago; today it is below 2 percent.

The ongoing shift from employer-sponsored pension plans to employee-managed retirement savings…Without guaranteed benefits, more people may feel the need to work more years, in order to guarantee sufficient income after retirement.”

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