It’s no secret that a great deal of the jobs added in the last few years have been part-time jobs. In fact, as noted earlier on TheBlaze, part-time employment was almost entirely responsible for that miraculous dip in unemployment we saw earlier this month.
But here’s something you may not have known: Of the almost five million jobs added since late 2009, almost all of them have gone to part-time workers ages 55 and older.
"[S]tarting since the official NBER end of the recession in June 2009, the US has cumulatively added 2.9 million jobs," Zero Hedge reports.
"However, when broken down by age cohort, 3.5 million of these jobs have gone to US workers aged between 55 and 69. Another 729K have gone to recent college grads aged 20-24," the report adds.
This begs the obvious question: What about workers in their prime? That is, what about the 25-54 demographic? Well, that age demographic actually has lost 729,000 jobs since 2009.
You know what this means, right?
In other words, the US jobs "recovery" has been one that while "benefiting" part-time workers, and those who ordinarily would be exiting the labor force to focus on retirement (and can't as they suddenly realize their savings under ZIRP [zero interest policy rate] are worthless while their fixed income portfolios return virtually nothing), has crushed American workers in their key work years, whose jobs instead have been taken by "veteran" workers who increasingly refuse to leave the workforce.
“So the next time a potential employer denies your job application because the job was just taken, speak to mom and dad: more than likely they applied for the same job, and got it,” the Hedge adds.
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Front page photo source courtesy the AP.