The reasons for this could be several. One of them just happens to be demographic, as the baby boomer generation has now reached the age of retirement and is no longer working. Workers over the age of 65 make up 38% of the labor force, and those folks are now retiring in large numbers. What is partially alarming though, is the apparent lack of good full-time jobs. Too many Americans are finding themselves with low-paying jobs containing no benefits. Further, there seems to be a trend as some companies move to cut full-time positions in favor of part-time work.
The lack of good full-time positions is something that young people are having to grapple with, as many of them are finding themselves working in jobs that they do not consider to be career-path oriented. Even after graduating from high school and college, many young Americans find themselves living at home, working jobs that do not necessarily correspond with what they studied.
One significant problem posed by the declining labor force is that with a fewer percentage of people working, there are fewer people paying for various guaranteed entitlement programs. As more people retire, and the percentage of Americans working decreases, the government will have to decide what to do with the scarce resources, whether it is to increase the tax rate or to cut some of the benefits.
What possible implications does this have for you?
As a teenager that will soon be graduating high school and then going to college, this has strong implications for me. It is obviously a worry that I will be able to get a good job after school and this information only heightens the worry.
ReplyDeleteIf students such as myself take all the time needed to earn a 4-6 year degree in engineering for example, and they're not able to find the job they're looking for afterwards in order to pay off their school loans, the economy will only continue to slump because there won't be any spending money left to spark the real estate market for example from the purchases of new housing.
ReplyDeleteAfter reading the article and watching the video, it was very easy for me to make a connection. I work in retail and I can see how it is completely unnecessary to have so many added jobs in retail. There are so many people I work with that would love to be full time, but some of us younger kids are taking some of those hours just to get a small paycheck. My high school job isn't the job I plan on doing forever, but I'm glad I'm learning the responsibility of having a job.
ReplyDeleteThe job market doesn't look very optimistic to employees and people looking for jobs, when companies are considering turning full time jobs into part time jobs. They may be getting extra money from their decision, but they are hurting their employees with cut wages and benefits.
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ReplyDeleteA lot of our production is currently moving to china, this make a decrease in the amount of production workers, this is a huge problem if companies cant offer jobs in the secondary and tertiary sector.
ReplyDeleteAnother reason why the unemployment rate is high is because a lot of highschool kids 16 and older aren't looking for jobs. They are focusing on school work and aren't planning on getting a job until they go to college. If the survey only included people who were 18 and older instead of 16 and older, the unemployment rate would be lower.
ReplyDeleteParker, notice though that it only includes those that are looking for work. You are right many young people choose to focus on school but then they would not be included in the unemployment rate.
DeleteMany people spend several years in college trying to graduate with the career they want to major in. For people who spend all that time doing so, it is getting harder and harder to find a job that you majored for and are stuck doing something else that you never dreamed of doing when you grew up. People have to do what they can to get ahead instead of just getting through it and being exactly like the other how many ever people applying for that position. They need to participate in career-related programs to up the other people: programs, internships, etc.
ReplyDeleteThe blog post you created definitely shines some light onto the topic for the uneducated, but I'm one of the few who was already aware of this dilemma. I can definitely see how it impacts the current generation that resides in school currently; though there is a chance by the time our age group finishes college that the mild depression we're in right now will be faded by then, thus allowing us to take up arms in our field of choice.
ReplyDeleteAnother factor that could have affected the low labor force, besides the baby boom generation growing up and retiring, is technology. New technology made by a specific career could take away and replace certain other careers and workers, creating a beneficial and non-beneficial situation. It is interesting to see how we think so highly of new technology, while it could be ruining our economy.
ReplyDeleteThis has a huge impact upon our generation especially. As we are entering college, with our minds set upon a career, our options may be limited when we are finished. Lower paying jobs are going to be options for many of us, and after 4 years of an education, it is more or less a waste of our time and money. Hopefully, we will be faced with more options and more opportunities when we are finished with our schooling.
ReplyDeleteUnfortunately several individuals are struggling to find stable jobs that are long term. The reason why this is, is because several individuals that want to find the job of their choice when in reality their is no demand for more job opportunities for those graduating college. The economy is breaking down because of this because less jobs are being handed out. With this being said, there are less consumers for the economy to grow because no one has the money to spend on things they want.
ReplyDeleteYou mentioned that high school students are having trouble finding a job the corresponds with the career path that they might want to take. This is a very real situation because there are not very many part time jobs that might be related to the field. I personaly want to go into the natural resources/environmental field of study, and working at fast food joints around town will not help me pursue that path. There are very few if any jobs that are directly related to my career choice. There simply is not any place to find a job like that.
ReplyDeleteAnd maybe it's not the problem of there not being any jobs, but some kids are heavily involved in sports and extra caricular activities that make it impossible to hold a job.
After watching the video, I am now terrified for what the future looks like for our economy. Knowing that people are becoming more and more attached to low-paying jobs is scary to think about, because our economy is gradually going to get worse and will eventually hit rock bottom. After that, I have no idea how we would be able to even function properly as a country.
ReplyDeleteBrenna, what makes you think the economy will continue to get worse instead of continue to improve? Perhaps by the time you are out of college we will be on an upswing.
DeleteI find it horrifying that even if we do all the hard work we're supposed to we might still end up unemployed in an already terrible economy. The best we can do though is to work the jobs we can until we have earned the title we've sought out after. Because nowadays everybody goes to college! It's not a question of if anymore, it's become a question of when! The battle for jobs is frighting. So I believe we have to do more! we all have to prove ourselves in our own way, and once we do that and we all make our contribution we will have all helped out the economy and decreased the unemployment rate at the same time we help ourselves. So how will you contribute?
ReplyDeleteWith less full-time jobs, there may be less stress on college education. As part time jobs become the regular, and college education depletes, technology will be more and more relied on for simple, every day tasks. Ultimately, technology will take over the world completely if part time jobs continue to rise in number.
ReplyDeleteDoes the pay decrease because the job is so easy to get? Like McDonald. They have plenty of hiring opportunities. And since so many people are eligible to work there, because they seriously hire just about anyone who walks through those doors, they can easily give it to them and offer them a very low salary. The person probably won’t leave the job because maybe they do not have the required education to be able to get a job in the medical field or the business world or anything like that. But I still don’t understand why there is still so much unemployment if more and more people are getting degrees and going to college.
ReplyDeleteThe job economy is struggling right now. There is less work, and less full-time paying jobs. As a teenager I was lucky to find a good part-time job that pays for the things that I need. However I am a little afraid for the future. It seems that all our economy does is continue to decrease in jobs. Hopefully the labor force will build over the next couple of years, and provide more full-time jobs for those who need it in every area of work.
ReplyDeleteWithin this critical time, a possible solution to the declining labor force is to cut some benefits. It would not be logical to raise taxes if several people cannot pay because of the low paying jobs. As an upcoming, possible influential member of society, this worries me about what is to come in the future. Will the percentages decline even more in number? Or will it stay the same? Hopefully by the time we play a role in the real world, everything will work out in our favor.
ReplyDeleteAfter looking over the video and how they added more to retail and dining. It made me think why are those numbers jumping? Guessing more new fine dining restaurants and more Wal-marts/general stores. But then constructions got no new jobs open and without new jobs opening up in construction no new building would be made.
ReplyDeleteI am also confused as to how this could be possible. You would think that if more jobs were opened up in retail or dining that more buildings would be made, but with there being no new construction jobs it makes it seem impossible.
DeleteIt would be that stores and restaurants that laid people off are not hiring again. Or these industries are getting ready for the holiday season. On a positive note, people must be spending more on restaurants and retail shopping or we wouldn't see more jobs in these sectors.
DeleteThe fact that 38% of the work force is over 65 years of age and that many of them are retiring is less concerning than anything in regards to whether or not I'll be able to obtain a job. This means that most jobs that require certain skills are becoming available and kids who are going to college for these specific areas will have more opportunity to get one of these jobs.
ReplyDeleteThe startling fact that even after graduating high school and college some still cannot find a good job is something that worries me in this post. It makes me wonder, is it really worth it to pay for all of those years of college and graduate school if you're not guaranteed a job within your field of study? Why pay for all of that when you may just end up working a job that has nothing to do with what you studied in college? Hopefully, by the time our generation finishes their schooling this fact will have changed and more jobs in our chosen fields will be available.
ReplyDeleteSince I plan on getting a college degree it is a good sign for me that there were a lot of jobs added in the medical sector. This shows that employers that hire higher educated workers are still higher people while lower skilled jobs like construction are not seeing any growth.
ReplyDeleteIt's insane to read about how kids that graduate from high school and even college end up in a job that often doesn't offer a career-path, and often doesn't have anything to with what they studied. It seems like such a waste of time and if I was one of those people I would look back and ask myself was that all worth it? Was it worth the time and effort to get the grades to get the credits to graduate to end up with a job paying maybe $10/hour? I really wouldn't think so, going to college and getting a degree means something, the economy shouldn't be able to basically take away that opportunity of "evolving."
ReplyDeleteHaving watched the video, and read the blog, i believe that low paying jobs are rising due to the fact that companies are hiring more part time employees. Full time employees cost the companies more money due to their need for benefit packages. Jobs in construction aren't increasing since people aren't building houses anymore, and that foreclosures are becoming more common. no companies are building new skyscrapers mainly because they do not have the capitol nor the need for new installations. If large companies begin making more profit, more jobs will be created due to the companies need for employees, and their need for property and supplies.
ReplyDeleteThere are many people that I know who have that bachelors degree, and yet, they are still working jobs that do not pertain to what they majored in. People are getting stuck with jobs that they do not see themselves working on as a career -- so then why are they still doing that job? We have educated people doing work that could be done by the uneducated. Perhaps people are doing the work they don't find interesting (not what they majored in) because America is not using all these resources of educated people to the max. Therefore, because there are no jobs for these people, they must do work that could be for others, and we could then maximize our resources of people.
ReplyDeleteReading this makes me weary about the future of this country when I am in the work force. The fact that there is a lack of high paying jobs right now, worries me for my future. If the only jobs available when I get out of college is at Wal-mart, I would be in trouble. It would be hard to pay off a college debt working at close to minimum wage.
ReplyDeleteI find it interesting that the labor force is calculated starting at age 16. Many individuals start working at 13 and 14 now, due to the incredibly high tuition for college. I am curious to know if the labor force percentage would be higher if the government decided to include 13 and 14 year old people within the data. The future for our generation looks a bit dull. Right now many high school students work in retail or the restaurant business. I fortunatley have a job at a fitness club with benefits.After working in two restaurants, I am motivated to continue to do well in school because I would not want to make my life long career hosting at Applebee's.
ReplyDeleteThe working percent is low because of low paying jobs. No one wants a job that is low paying because of many things but one big one is taxes, taxes are pulled out of your paycheck making that pay check even lower! I personally think that having a job of any sort is better than being left with nothing, if this continues how low with the numbers get? Or maybe it can even increase and become better, which is something we all hope for but then taxes may be raised and that could cause the job industry to decline once again.
ReplyDeleteThe video has its positives and negatives. By adding jobs to health cares is great. But we are going to have to have job openings for construction and jobs like that because if new buildings aren't being built there won't be any money going towards construction jobs and there would be no growth for business to make money and hire civilians to work.
ReplyDeleteAt the moment. people at our age group aren't really looking for jobs. Students around the age of 16 are more focused on school and the time that needs to be put into that, rather than looking for a job. That being said, maybe those young age groups shouldn't be accounted for, seeing that not a lot of 16 year old students have jobs. Also, if a student goes to college and majors in something that doesn't have a lot of jobs available, it will more than likely affect economy, sending it into an even bigger deficit than before. Basically, the economy and the unemployment rate is in the hands of the young college students deciding on what they would like to do when they're older.
ReplyDeleteAfter reading this post and watching the video, I found a few things surprising and somewhat scary for our generation because of the fact that graduates are having such a hard time finding jobs, or the jobs they do receive are not related to their interests or majors. It makes me question how our economy got like this because we have been going to school and getting an education all this time so that we can have a career that receives income so that we become independent and start our own lives. But if only certain categories of work are hiring, how are more than half of us supposed to find work? This was a very insightful post and it raised a lot of awareness to the current generation and the rest of the generations to come.
ReplyDeleteAfter reading the post and watching the video, and also as a student who will be attending college next year, I find it quite scary that a large portion of graduated college students find themselves without a good-paying job that relates to their field of study. I just find it strange that students spend so much time and effort studying in college, and when they finally graduate, they cannot pursue their career. Hopefully by the time we are out of college, more stable, good-paying, and full-time jobs are created.
ReplyDeleteGrowing up in a family where my father owns a Construction company I have seen the devastation of the economy first hand. It shocks me however to see all of the people hired for retail and yet there are very few retail stores under construction. Hopefully the job economy can even itself out by the time we graduate High School otherwise lots of people will have a hard time in the future.
ReplyDeleteI feel as though the labor force shouldn't be shrinking. I think this way because the 38% of people from the baby boomer generation that are in the working force will be retiring within the next 15 years approximately. This should at least cut the 38% in half, opening up new jobs for the people who have just finished their education or those who will be finishing their education. Unemployment should not be a serious issue for a long time, even though it has been recently.
ReplyDeleteBeing a teenager this topic highly relates to the problems I may face in the future, seeing that I'm going to graduate in less than a year and then go off to college. Learning this new information after watching the video, it seems to me that it may be difficult when I am out of school to be able to find a well paying and worthwhile job.
ReplyDeleteThis topic draws huge worries upon our generation as we enter college. We go to college to hopefully end up getting a good-paying job that we enjoy, but seeing as there is less full-time jobs, it is very concerning. If we go to college for 4 or more years, spend thousands of dollars, and then graduate but still can't find a good job then that is just pointless and a waste of time and money. Hopefully our economy will be better by the time our generation finishes college, and we will have plenty of job options to succeed in our desired careers.
ReplyDeleteI can understand the job economy shrinking by making connections to my life. Even as a teenager, it's difficult to find a job. I feel like this relates to the adult and post college job search on a lower scale. If I can't find a job at this age, it's going to be difficult to at an older age. The job market decreasing could make students not focus on degrees as much in college, so hopefully we can find a way to increase the jobs.
ReplyDeleteThe concept that truly scared me was the notion that students after graduating from college will not have as good as benefits or jobs as in the past. This is directed towards myself and my generation. After studying and spending all of our money on education to have a better job, one will not be there for us to receive because it is very difficult to find a full time job now. I also believe that we are just making more jobs in the wrong categories. Low paying jobs, as stated in the video, do not help the economy because it is not as beneficial so why do we keep putting jobs in low paying areas?
ReplyDeleteIn my opinion it's great that retail and dining jobs have been created, but, it concerns me that no jobs are being created for construction. Construction is an important job (hard job at that) and if we don't have many workers that specialize constructing buildings, roads, and even sports fields how can we expand? Almost all things construction workers build create various new jobs with the new buildings, roads, etc. To fix this problem of no jobs created in construction, it's simple, just up the pay of construction workers.
ReplyDeleteMore and more full time jobs are being taken away and becoming more part time jobs. With this it becomes easier for the younger crowd to find a job because they can work in other things such as sport and school. Also, without filling in jobs for people, we will end up losing those jobs because technology keeps increasing over time and it will soon take over.
ReplyDeleteFrom reading over this post I find that it is really discouraging that labor force is shrinking. Yes there has been an increase in some jobs but there are many jobs that had very little or no job increase such as construction jobs as it as mentioned in the CNN news video. With the labor force shrinking there are less open jobs for others to try and get. That means people won't be able to pay for what they need for and be able to support themselves. That's probably part of the reason why younger people in America are still more than likely living at home with their parents. It's because they aren't able to make enough money to live on their own which is really rather sad if someone thinks about it. These younger people aren't learning some necessary things and aren't very happy because of it. And continuing down further into the blog post something that surprised me as well was the article with Forever21. How they are cutting full-time jobs to only part-time jobs which takes away many benefits. That seems even more discouraging to not only me but also to those who are employed or want to be employed. Having these benefits cut down and having less pay because of your full time job being cut down to half of that. It will more than likely make employees upset and probably cause trouble for the company and either they will quit making the employee outlook of the company shrink or the employees will demand for the increase to come back. It is completely stressful for these people and it will make them not want to work there. It is stressful for all to those working and not working with the shrinking of the labor force.
ReplyDeleteI may be mistaken but the reporter might of made a mistake with her stats and research. I say this because if there are thousands and thousands of new jobs in retail and dining how can construction not have any jobs opening whatsoever. I mean not even some new jobs in construction but she had 0. The math doesn't add up unless they are going to add people to the all ready existing job buildings, but I don't think that is the case, where are these 50,000 new people going to work? I believe her information is false, and shes wrong, 50,000 new jobs means new business are opening and new buildings will have to be built which is also creating construction jobs. . . Now that we're going to have new jobs in construction and in retail, and dining, maybe our economy is headed in the right direction. I guess we'll find out, soon.
ReplyDeleteI firmly believe that it is the responsibility of the individual to acquire a job he/she desires. Any position can be reached with enough motivation. If there is a lack of full time job pursuit, then surely it is because there is a larger group of people willing to work part time. These people who are willing to work part time have nobody but themselves to blame if they do not make the salary nor recieve the benifits of a full time position. Those who work hard for a full time job with benefits will recieve a full time job with benefits. America is gradually growing lazier. It is not, however, the industry's fault, but the proleteriat's.
ReplyDeleteThroughout my life, I have known that I will always have jobs that are not necessarily going to lead me to my career path. After working at the YMCA and now working at a food oriented business, I know that neither of those jobs will be a part of my future career. After reading this article, it shocked me to hear that “After graduating from high school and college, many young Americans find themselves living at home, working jobs that do not necessarily correspond with what they studied”. I have always believed that I would find a job after college that relates to my major and what I want to do with my life. Realizing that this may not be the immediate case truly has an effect on my future. This concerns me because I, as well as many of my peers, want to get our lives started and be able to accomplish what we have been working towards throughout our young lives.
ReplyDeleteFrom what I can decipher from this article, I'm not surprised at the conditions of labor. Yes, the baby boomers are retiring, yes there are some really bad jobs out there. No we are not going to go into another time where jobs were bad and pay was next to nothing. The jobs that are available right now may or may not be compatible to the degree and the knowledge that we worked 4-6 years for. It's still a job. As long as someone can work, know what they're doing and do it decently well, they should be fine. As long as the market is flowing and everyone is getting paid and receiving what they need to survive and thrive, it should be okay.
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