05-05-2014, 04:09 PM
Zirak Wrote:My understanding is that unemployment is falling not because a lot of people are going back to work but because the labor participation rate is dropping. Our current labor participation rate is really low.
But that might also be the new norm. The Baby Boomers basically are the only ones left with a retirement that is actually manageable with pensions, and they are dropping out of the work force early in droves. They can't be bothered anymore and I don't blame them. I think once they clear out and become official retirement age they won't be messing with those numbers as much.
I have a hope where I can imagine a good 10 years where Gen X and Y have a good run as all the management level Baby Boomers finally get out of the market and there is a big void to be filled where we can get all the high paying jobs for a bit before the wave of Millennials take over. Our generation has been given the short end of the stick at every pass being sandwiched in between two large population groups.