Older workers outnumber teen workers

teens.jpg That's apparently a first - 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. From the SF Chronicle:

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. This shift toward an aging workforce has been disastrous for 16- to 19-year-olds, who face unemployment rates of 25 percent nationwide and 34 percent in California, similar to the Great Depression. "It's killing kids," said Andrew Sum, director of the center for Labor Market Studies at Northeastern University. "We're tossing our future into the trash bin."

Perhaps, though older folks might not have much choice but remain in the workforce. Many of them have gotten killed by the recession and can't get along on just Social Security.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook