GRANNY GO HOME - I WANT YOUR JOB
GRANNY GO HOME - I WANT YOUR JOB UPDATE: Reader Mac Overton writes: There is another pernicious repercussion to such low interest rates – and they affect the young as well as the old. The drop in interest income is keeping seniors working rather than retiring and forcing some retirees to rejoin the workforce. Those jobs taken by seniors crowds out job opportunities for younger workers.. Latest data from the BLS: Employed – age 65 and over July 2012: 6,155,000 July 2008: 5,193,000 Net add: + 962,000 Employed – ages 16 to 64 July 2012: 144,580,000 July 2008: 144,731,000 Net loss: -151,000 Basically, all new jobs (and then some) created in the past four years have all been taken up by seniors – which is why many youngsters sit on their parents couch at home – granddad and grandma took their first job…..thanks in part to the abnormally low interest rates. Well, they can always sit in their childhood bedrooms and stare up at those fading Obama posters.