Working seniors outnumber teens in labor force

[cali]

Tom Abate, Chronicle Staff Writer

For the first time on record, senior citizens outnumber teens in the labor force as the Great Recession accentuates trends that make it harder for young people to find jobs and more likely for older workers to delay retirement.

This historic crossover is revealed in data compiled by Bloomberg News showing that 6.6 million people over age 65 worked or looked for work in the first six months of the year, versus 5.9 million 16- to 19-year-olds.

That analysis is based on federal records that started in 1948 when there were 4.4 million teens in the labor force compared with 2.9 million people over age 65.

Experts say that over the past decade older workers have tended to hang on to their paychecks longer, owing to sagging stock portfolios and falling home prices.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/07/14/MN7K1EDSTA.DTL#ixzz0tkmiJBRX

[pipoman]

1. Is this taking into account the baby boomers

population? For the first time in the US there are more seniors (or soon will be) than there are teenagers by a pretty significant margin IIRC..

[xchrom]

2. pushing the retirement age up is exactly wrong.

we need to get younger people into the workforce, have them move up in the workforce, etc.

[leftofcool]

4. exactly!

[The2ndWheel]

5. It won't not be an interesting century

Aging populations, automated work, social systems based on more younger workers, global movement of goods and people, borders and what they mean, developed vs. developing countries, longer life spans, no universal living standard, energy, the individual vs. the collective, etc, etc.

So many conflicting interests. Played out on both local and global scales, which also creates conflict. The more complex you make society, the more variables you introduce, the more conflict you'll have. Should be fun.

[Turbineguy]

3. Yes, but at least

the Banksters are getting rich!

[happyslug]

6. 1948 was the first year where unemployment was for the 17 plus population, not 14 plus

Thus the reason for why nothing before 1948, employments of 14-17 year olds were in the regular employment statistics NOT a separate stat.

[SoCalDem]

7. My friend just retired (due to health issues)..he's 82

Until a few months ago he worked:

part time as an optician
part time as a trainer for our police department
(he's a retired cop from many years back)
selling cars bought at auction for a friend's car lot
worked part time as a bowling coach for kids

He carried two cell phones because so many people needed to contact him on any given day.