Showing posts with label labor. Show all posts
Showing posts with label labor. Show all posts

Friday, June 8, 2012

Johnny has no job. Shame on Grandpa.

I saw James Carville in the airport in Dallas once. I overcame my natural urge to punch him, mostly because he looks kind of fragile - like a Muppet that got put in the dryer by mistake and kind of shrunk and stretched all at the same time. What I did do however, was recall his famous  "It's the economy stupid" comment during the Clinton years.

And it is.

And "the economy" to most people anyways, is highlighted by only 2 things - prices of goods led by gasoline prices - and jobs, with jobs in the lead by a bunch. If you don't have a job, you don't have the ability to bitch about prices, so jobs is Job One. Sorry Ford.

I ran across this chart on PJTV the other day and thought it appropriate to present to my readership.

Since 2008 (I wonder what happened then?) the job losses by age category have been most pronounced for young people - who have take almost 3 times the "hit" of other groups. As Steve Carrell from "The Office" mockingly said to a Princeton graduating class last week - "You are young, and because you are young, you are also wrong." I wonder if any of these new voters have a different opinion of their 2008 vote for Obama now that they are standing on the stage with a $150,000 student loan in one hand and shrinking job prospects in the other.And a degree in the third hand. The real world can be cruel sometimes.

But that isn't the most striking part of the graph. Look at the far right. (Small r!)

The only job growth in the last 4 years is in people over 60 who have had to postpone or abandon their retirement. Kids can't get jobs? Blame granny, because she isn't moving to Sarasota anymore. And remember - there is no more pissed off person than an old pissed off person.

These folks are going to be looking for blood in November. Across the board, young, middle aged and old - folks are going to hold politicians - a la Wisconsin - for their actions.

Is it the economy stupid? Yes, and the economy is jobs. QAnd EVERYONE is hurting.ap

Just ask grandpa.