mybudget360.com / By mybudget360 / January 5, 2013
It is still a tough time to be young and looking for work in the United States. With the steady destruction of blue collar industries with living wages, many have to pursue a college degree for any chance at becoming middle class. Yet higher education has become a debt plagued mess where students have to enter selective schools or pick in demand degrees to have any fighting chance in the economy. The rest go into deep debt for what is now worthless paper. Yet it is understandable for young Americans to take this risk given the weak prospects in the market for those without a college education. The recent jobs reports are more proof of the great divide that is happening in our nation based on age. Since 2009, the economy has lost about 2.7 million jobs for those between the ages of 16 to 55. However, the offset has come from adding 4 million jobs in the age range of 55 to 69. Welcome to the American Gerontocracy.
The young and old divide when it comes to jobs
There was a startling chart that I saw over the last week. It shows added jobs based on two age segments: