Friday, September 02, 2011
Young adult employment drops while senior employment rises; lack of jobs growth in August jolts stock market on pre-holiday Friday
The stock market is tanking Friday Sept. 2 as the employment figures show no job growth in August, a month that showed the debt ceiling “resolution” and the downgrading of US debt by Standard & Poors.
CNN Money has an interesting video showing that young people age 16-24 have seen a sharp drop in employment since the late 1980s, even accounting for the fact that more are in college; summer employment is weaker. But people over 65 are working more, partly because of longer lifespans and weaker retirement portfolios.