Nothing adds to the unpleasantness of a stressful market week like charts like these.
According to statistics, America has a substantial natural growth rate across all demographics. Still, in the past 15 years, not a “single incremental job has been gained in this most productive and lucrative of age groups!”
There is no demographic excuse for this bewildering phenomenon. Since 2009, employment rates for workers between the ages of 25-54 has remained utterly stagnant after a sharp drop in the aftermath of the debilitating financial debacle of 2008.
Take a look for yourself.
*Image courtesy of ZeroHedge.
On the other hand, workers aged 55-69 have been steadily climbing since 1997 as middle aged Americans find they are unable to retire as quickly and comfortable as they had originally anticipated due to financial meltdowns, inflation inducing Fed policies, and dwindling savings accounts.
*Image courtesy of ZeroHedge.
To us at Wealth Wire, this doesn't look like an economic recovery at all. With over 23 million Americans living without jobs, these numbers will only worsen n 2013. Ron Paul believes the unemployment number will rise “dramatically” next year if we don't suck it up and prepare to endure some short term growing pains for the betterment of our long term future.
Someone in Washington needs to have the balls to make some unpopular choices that'll allow the business and manufacturing sectors to blossom into the self-sustaining entities they once were – to allow America to bounce back into the economic powerhouse it will always be revered for.
In the meantime, young people need to stop waiting and take matters into their own hands. They need to take action now; they must fight to find their niche in the workplace at all costs. The private sector needs them and their innovation now more than ever.
Without jobs, America will surely wither into a welfare nation wrought by broken dreams, replaced with unrelenting despair.
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