Seniors Outnumber Teenagers in Job Force
Tuesday, July 20th, 2010For the first time on record there are more seniors than teenagers in the American labor force. Starting last fall the number of older workers surpassed the number of teenage workers for the first time since 1948, when the Labor Department first began collecting statistics. If you look at just the employment of older workers versus teenagers — that is, how many workers actually have jobs — you will also find that older people surpassed teenagers for the first time recently, in mid-2008.
Meanwhile, teenagers have been having an especially rough time in the job market partly because the economy is still weak and partly, because employers may be discouraged from hiring teenage workers because of recent minimum-wage increases. As a result, many are unemployed, and many others have given up looking for work altogether.
This lowers their labor-force participation rate, which had already been declining even before the recession began: Older people needing work + more younger people giving up on work = grandparents surpassing grandchildren in the labor force.

