Baby Boomers Can’t Retire and Millennials Can’t Start Careers

It’s the Economy, stupid…

Our generation- the Boomers- saw pensions disappear into 401K’s that have been hard hit by the economic troubles of the last few years.

And now the Republicans want to phase out Medicare and Social Security….

I guess we’ll all end up sitting at Drive-Through Windows saying ” Can I super size that for you?” until we fall over dead….

And block the younger folks from getting that job at the Drive-Through as that seems to be the only type of job the Economy is creating now…

We certainly can’t afford to leave our Corporate jobs until they put us out…

From the National Journal:

It’s hard to say this spring whether it’s more difficult for the class of 2011 to enter the labor force or for the class of 1967 to leave it.

Students now finishing their schooling—the class of 2011—are confronting a youth unemployment rate above 17 percent. The problem is compounding itself as those collecting high school or college degrees jostle for jobs with recent graduates still lacking steady work. “The biggest problem they face is, they are still competing with the class of 2010, 2009, and 2008,” says Matthew Segal, cofounder of Our Time, an advocacy group for young people.

At the other end, millions of graying baby boomers—the class of 1967—are working longer than they intended because the financial meltdown vaporized the value of their homes and 401(k) plans. For every member of the millennial generation frustrated that she can’t start a career, there may be a baby boomer frustrated that he can’t end one.

Cumulatively, these forces are inverting patterns that have characterized the economy since Social Security and the spread of corporate pensions transformed retirement.

via NationalJournal.com – Upside Down – Friday, June 10, 2011.

1 Comment

Filed under Education, The Economy

One response to “Baby Boomers Can’t Retire and Millennials Can’t Start Careers

  1. Aunt Lily

    working until 80 will be the new norm. Guess those grads will read the obits to try to find jobs.

    Like

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