Monday, December 20, 2021

The data that shows Boomers are to blame for the labor shortage

 One of the more insidious myths making the rounds this year was that young people didn't want to work because they were getting by just fine on government aid. People had too much money, went the narrative from a handful of politicians and pundits.

Here's the thing: Early retirement — whether forced by the pandemic or made possible otherwise — is having a huge impact on the labor market. And data show that retiring boomers, far more than "lazy" millennials, are the biggest force behind the labor shortage.
People have left the workforce for myriad reasons in the past two years. But among those who have left and are least likely to return, the vast majority are older Americans who accelerated their retirement.


  1. Yeah, no. Boomers are waiters. Boomers aren't truckers. Boomers aren't delivery people. Boomers aren't out there on docks unloading the ships. That's where the labour shortage is. It's young people who figured out that government handouts, properly shared, can be just as lucrative as an entry level job.

  2. This article clearly disagrees.
    Where is your data?

  3. that is simply parroting the Republican talking points- have any real evidence?

  4. It's funny, you know. When the US was clicking along at "full employment" back in 2019, liberals were saying "Don't you dare credit Trump's policies! These are all the wrong kinds of jobs he created so they don't count!" The gig economy. McDonald's jobs. Basic factory work. And who was really complaining? Millennials because the Boomers weren't retiring. They were hanging on to the good jobs, forcing younger people into lousier careers. If only the Boomers would go away!
    And now the Boomers are all retiring and suddenly there's a labour shortage. Where are all those complaining millennials?

  5. Let's go back to 2019 and a good liberal paper:

    And for now
    These aren't Boomer jobs. There's for young people starting to enter the workforce.

  6. It answers everything. Back in 2019 Boomers wouldn't retire which stranded Millennials in low paying entry jobs. Then 2020 came along and the government paid the M's just as much to stay home. Now the B's are burnt out and retiring but the M's don't want to re-enter the workforce because they make just as much staying at home. Bottom line - the unemployment numbers amongst M's are high. If B's are retiring on mass, where are the M's who aren't working to take those jobs?

  7. You are simply repeating your claim not providing evidence

  8. Again, simple logic - you have four employees. The oldest retires. You promote the other three and find a new junior guy. If there are so many B's out there retiring then the shortage isn't caused by them, it's caused by M's who prefer to remain unemployed.

  9. There are labour shortages for various reasons - also in UK and Europe.

    We ahd a truck driver shortage - why? Pandemic, people deciding they don't want to work anymore, or do something different, Brexit- meaning less visas for Europeans to work in UK. But travel restrictions as well. You only need a a displacemtn of 100,000 or 1,000,000 people to disrupt an entire sector and/or supply chain. But the young generation are not having proepr education either. Universities are giving virtual classes. Even graduates of many new disciplines can't find work, so why not becoem a truck driver and ear more than doctor or accountant?

  10. You are simply relying on anecdotal evidence not facts and calling it simple logic

  11. No I'm asking a simple logical question
    1) Boomers are retiring which is causing a labour shortage
    2) Millenials are complaining that they can't find jobs
    Something's missing here.

  12. Labour shortage is the best thing for younger generation. It means they have better chances of landing a job, need less experience, and will get training as part of the job. It beats labour oversupply, which creates unemployment and destroys lives.

  13. Here's one for you
    Chilean Jews recently had a choice for president - the son of a Nazi and a leftist SOB who fancies himself piously ant-Zionist (and anti-Semitic but of course he doesn't call himself that). Looks like Salvador Allende finally got into office and now the Jews who probably think bad things of Pinochet will shortly come to realize what he saved Chile from back then.

  14. The problem is that lots of millennials have a sense of entitlement. They went through an education system that spent more time teaching them about self-esteem and equity than math and science. They graduated and expected to walk into a corner office job after a basic interview in which they'd be asking all the hard questions. And then real life hit.
    Turns out the Boomers had all the good jobs and also this crazy idea that just showing up for something doesn't mean you're going to get it handed to you. Merit. Accomplishment. All dirty words to the Equity crowd. It's racist, don't you know.
    I'm friends with a guy who was the national president of a major store chain. He started at 16 as a stock boy in a branch of that chain somewhere in rural America, worked hard and when he was 45 the store chain was bought out and he was handed $11 million as a retirement present. But he started as a stock boy. Today's millennials want to have that $11 million dollar payout as the opening bid for their services. When they don't get that, they figure that since welfare pays almost as much as an entry level job in the stock room, why not stay home and watch Netflix all day? And then write crap articles about how the Boomers are causing the labour shortage?

    Here's another one for you. CNN, your source of truth for all things, just did a series on the history of Jerusalem. Somehow managed to get through the 20-'s-40's with no mention of the Mufti, no mention of the Arab revolt and the impression that the British spent the entire mandate beating the Arabs down so the jews could easily build a State. You should check it out.

  15. Is the CNN jibe aimed at me or the author of the blog?

    There is a school of thought in economics which is called Kondratiev long waves. It is basically a theory of big cycles and small ones which make up the big cycle, of boom and bust. so every 50-60 years we go back to the beginning and there is a new boom era. In fact, it reminds me of the the shemitah and Yovel cycles, and the relase of debts. I am pretty sure the theory was inspired by the Torah.

    Millenials are now at the beginning of a cycle, like at the beginnign of the 60s. Unemployment has bene a feature since the 80s, and has meant a couple for generations never foudn work. Now, people can find work - if they look. Not everyone needs to get a degree, they don't help in many cases anyway. And putting more people through university just increases their debt, and does not improve their job prospects.
    It is just that woke people see the labour shortage as a bad thing. I see it as a good thing.

  16. here is another CNN story

    a preserved dinosaur egg fossil, with the unhatched dinosaur's bones still in the egg..
    how do you explain that if the world is only 6000 years old?

  17. It's a very cute fossil. It actually is proof of Hakadosh Baruch Hu's rachamim in how he created all creatures in an orderly world. Some have lost their place, and gone extinct

  18. He's trying to get you to dredge up some point from 9 months ago where we ask the question - do we adjust reality to fit with a 2000 year old understanding of the Torah or do we understand the Torah based on modern understanding of reality?

  19. while we are digressing, I have another question-
    how is Rav Chaim Zimmerman ztl perceived in the Chareidi community? Is he even known?
    He was a great individualist, and didn't even fit in well in teh MO world. But he was reputedly a Gaon of tremendous proportions, who drove a sports car.

  20. He was an eccentric genius who seems to have had a significant impact only on a small group of followers

  21. Genius is the most important thing - if he kept Halacha.
    I personally am more impressed with Rav Kasher ztl


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