Frequent readers are well aware that in addition to having broken the story about America’s conversion to a part-time worker nation nearly three years ago, another topic we have been closely tracking over the past year, and well ahead of the mainstream, has been its conversion to a gerontocratic worker society (from October 2012: “55 And Under? No Job For You“), which has shown that contrary to yet another urban legend that old workers are retiring in droves, it is the old workers who are getting the bulk of the jobs, at the expense of everyone else (those 55 and younger). In fact, America’s oldest working age group “bucket” is hitting record employment levels month after month.
Which brings us to today’s chart of the day which shows the August job additions broken down by age group, and as tracked monthly by the household survey. The additions, or rather job losses, need no additional commentary aside from what we have provided so far.
In summary: meet the New Normal America – a country of aging, part-time workers.