#1 Obamacare: Millennials' Jobs Getting Outsourced to Their Grandparents
08-08-2014, 08:05 PM
- Join Date
- Jun 2008
Millennials' Jobs Getting Outsourced to Their Grandparents
The Los Angeles Times ran a story titled “Freelance Workers a Growing Segment of California Economy” lamenting that millennials working part-time costs California $17 billion a year in tax revenue. Apart from the Times' bizarre comment that young people are somehow shirking their responsibility to pay more taxes by working odd jobs to survive, the real issue is that higher tax rates, labor rules and anti-business regulations, and Obamacare mandates have made hiring millennials for full-time work much more expensive. Businesses are increasingly adapting to higher government costs burdens by hiring the over 65-year-old seniors who are exempt from ObamaCare.
The Obama Administration likes to crow that all the American jobs have been recovered since he took office. That is sort of true, but the potentially employable population of the United States has grown by 10 million since he took office. That means that there are at least 6 million more Americans that want to work, but are unable to find employment.
To understand why millennials are losing ground, dshort.com website publishes a demographic breakdown of U.S. Labor Force Participation Rate percentages for over 25-year-olds since the demobilization in 1948 after WWII. Dshort excludes 16-24 to avoid the rising number of people who now attend college. They focus on the 25-64 age grouping as the traditional period of “productive work force” before retirement.
What the data reveals is that the labor force participation rose steadily from 62% of Americans age 25-64 in 1948 to 80% in 2008. During that timesame period, male employment fell from 95% to 86% and female employment age 25-64 rose dramatically from 32% to 72%....
....But since the Obama Administration took office, labor force participation for Americans age 25-64 has steadily declined from 80% to 76% for the first time since 1948. Male employment continued its trend by falling from 86% to 83%, but after a half century of gains consistent gains female employment percentage fell from 72% to 69%.
This trend of grandparents taking jobs from millennials looks like it will get even worse. In 2000, the civilian labor force was 2% over 64 and 10% from 55 to 64. But today those percentages have both risen to re were to 5% over 64 and 16% from 55 to 64...
...There are now 10,000 Baby-Boomers turning 65 each day and they look increasingly attractive to employers versus hiring millennials. The grandparents have a proven work ethic, have the skills to perform the job and come with between a $2,000 and almost $12,000 a year advantage to employers by being exempt from ObamaCare mandates.
It seems rather perplexing that the Los Angeles Times could try to creatively rename unemployed millennials trying to survive by working a bunch of “off-the-books" jobs for cash to survive as “freelancing”. But the simple facts are that businesses have adapted to the Obama Administration’s taxes, regulations, and “Affordable Care Act. ”Add the burden of Governor Brown’s tax increase to the highest level in the nation and California millennials are rewarded, according to the Times, with “16.2% of Californians -- or about 6.2 million -- were either jobless, too discouraged to seek work, working less than they'd like or in off-the-books jobs.”
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