Honey I shrunk the labor force

[Charlie M.]

Obongo the great job killer

[beagledave]

Or..you know..not.

[Chakravartin]

beagledave wrote:
Or..you know..not.

That article does not take into consideration why young adults are pursuing higher education rather than entering the workforce. From what I can tell, it's largely due to their inability to find decent jobs.

http://money.cnn.com/2013/10/22/news/eco...index.html

Changing workplace trends have meant fewer opportunities for those just starting out. A major one: the baby boomers delaying retirement. They're also living longer, and they're realizing they may not have stashed away enough money for retirement

As a result, they tend to hold on to their jobs.

The percentage of the people aged 55 and over in the workforce has gone from just over 30% in 2000 to over 40% currently, according to BLS.

The result is fewer opportunities on the lower end of the job ladder, which has kept a lot of millennials on the sidelines.

[Charlie M.]

The obvious conclusion from that data is that over-the-hill boomers didn't plan for retirement and are clinging to their jobs to the detriment of the younger job seekers.

[OWC Jamie]

I planned for retirement, but Bill Clinton's first term tax increases wiped me out.

[DeusxMac]

billb wrote:
I planned for retirement, but Bill Clinton's first term tax increases wiped me out.

Would that make you one of the "over-the-hill boomers (who) didn't plan for retirement and are clinging to their jobs to the detriment of the younger job seekers" Charlie M is referring to?

[OWC Jamie]

DeusxMac wrote:
[quote=billb]
I planned for retirement, but Bill Clinton's first term tax increases wiped me out.

Would that make you one of the "over-the-hill boomers (who) didn't plan for retirement and are clinging to their jobs to the detriment of the younger job seekers" Charlie M is referring to?
I
and doesmax exemplifies his total miscomprehension of the word " plan".

[DeusxMac]

billb wrote:
[quote=DeusxMac]
[quote=billb]
I planned for retirement, but Bill Clinton's first term tax increases wiped me out.

Would that make you one of the "over-the-hill boomers (who) didn't plan for retirement and are clinging to their jobs to the detriment of the younger job seekers" Charlie M is referring to?
I
and doesmax exemplifies his total miscomprehension of the word " plan".
"Plan" failed?

PPPPPPP

[Lux Interior]

billb wrote:
I planned for retirement, but Bill Clinton's first term tax increases wiped me out.

Too bad. If the market had continued as it did from 92-2000, I would be retiring (quite comfortably) at 50.

Glad I wasn't planning on retiring in 2008. I'm just now recovering from that wonderful economic disaster.

So what taxes are you talking about anyway? Even with Reagan's & Clinton's tax increases, rates are still at historical lows.

[DeusxMac]

billb wrote:
I planned for retirement, but Bill Clinton's first term tax increases wiped me out.

Are you saying you couldn't retire during Clinton's administration so you're still working now, and you're now aged somewhere between 78 to 86?

Or are you saying that Clinton's 1993 Budget Reconciliation Act has prevented you from retiring now that you've reached retirement age, 20 years later?


Clinton's first term was 1993 through 1996. Anyone reaching the age of 65 or 66 during that period would have been born between 1927 and 1931; now 82 to 86 years old.

Clinton's second term was 1997 through 2000. Anyone reaching the age of 65 or 66 during that period would have been born between 1931 and 1935 now 78 to 82 years old.