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I agree, but still find it troubling. If a person is laid off, or if a person retires and is not replaced, the net effect is still one less job. If population
by nostromo 12y ago
I agree, but still find it troubling. If a person is laid off, or if a person retires and is not replaced, the net effect is still one less job.
If population growth continues to outpace job growth, we're going to end up with a nasty game of economic musical chairs.
- rayiner 12y agoLook at page 28 of this PDF: http://www.bls.gov/opub/ooq/2011/winter/art02.pdf http://www.bls.gov/opub/ooq/2011/winter/art02.pdf. From 2010 to 2020, the civilian labor force aged 16 to 55, prime working years, is actually going to shrink by almost a million people. So the population is growing, but more of those people are of ages where it is typical to not work, so labor force participation rate can naturally be expected to go down, even if nothing is wrong with the economy.
- bjelkeman-again 12y agoAnd if there isn't a good pension scheme in place, public or private, it gets interesting. Palm Springs was an interesting place. The only place I have been where the dinners seemed all full of grannies working the tables.