Weak Pay Growth Puzzles Fed Chief, Just Like Everyone Else

[Artemis Fowl]

Real problem here. Colorado it is chronic according to a guy who hires movers for a moving van company. Space cadets cannot understand they cannot get hired with cannabis in their blood. "But it's legal!?!" So they go on the dole and are not counted as being in the labor force.

There are places and jobs... For instance, some truckers in W Texas servicing the oil patch are knocking down $200-300,000/ year. And pipelines are so glutted they are trucking Oil from Midland area to the Texas coast refiners at a cost of $12 or more just to sell it. Truck drivers overall are in shortage but luring them is difficult. Away from family sucks and self-driving trucks loom as potentially idling the entire industry of drivers.

The self-driving issue is a sore one. Companies should have to carry $100 million in insurance and any software glitch should carry penalty for the software engineers up to and including liability for voluntarily manslaughter and 2nd offense should require CEO to go to jail mandatory life in the event of a death.

This is not for a job that required operation of potentially dangerous anything. He was very specific about ability to "pass the test"...he didn't much care after that. Still can't find bodies.

 

[Gobears81]

Most millennials expect to retire at age 56

A new study published by TD Ameritrade found that on average, millennials expect to retire by age 56.

And of the 1,500 millennials surveyed for the study, 53% expect to become millionaires at some point in their lives. However, that percentage is unevenly divided between men and women: Of those surveyed who expect to become millionaires, 70% are men, compared to 38% of women.

https://www.foxbusiness.com/features/most-millennials-expect-to-retire-at-age-56

Nearly 55 percent of young adults, aged 18 to 24, still live at home in the United States, according to the U.S. Census Bureau.

The proportion of millennials who will be overweight between 35 and 44 would also be significantly higher than the 63 per cent of adults of all ages who currently fall into these categories.

A business analytical company called Visier Insights divided 1.5 million US-based employees into two groups: Millennials, anyone born in 1983 or later and Non-Millennials anyone born in 1982 or before.

They found that Millennials resign from their jobs three-times as often as Non-Millennials – 29.1% compared to only 9.2%.

https://www.kare11.com/article/news/millennial-job-hopping-on-the-rise/89-563334689

The optimism of wealth and early retirement are not consistent with millennials' actions.

How many of us were so fortunate as to land their career job right out of high school or college? There is going to be a more transient element to younger workers when compared to 40, 50, or 60-year-old workers that have a higher likelihood of working at a job that they may call their "career", or at least one that they can tolerate. I remember going to an appraisal class and sitting next to a guy in his 50s. He worked for the state and got an early retirement. Nice guy, but clearly miserable as he literally said 20-times that he has 8-years to go until retirement. That was clearly what he was living for. Would a 20 or 30-year-old be as willing to put up with that kind of misery for 25-years? Unlikely.
As for the expectations of early retirement, so what? I don't doubt that there's a high percentage of workers in their upper 40s or early 50s that said when they were younger that they expect to retire early, only to look at their savings later on in life and realize that it's not realistic.
I know from experience that it is incredibly difficult to find good workers. But the lazy and incompetent label extends to all age groups.

 

[Joe Flacco]

A business analytical company called Visier Insights divided 1.5 million US-based employees into two groups: Millennials, anyone born in 1983 or later and Non-Millennials anyone born in 1982 or before.

Gobears, looks like you are not millennial after all.

 

[Joe Flacco]

Plenty of millennials doing just fine. The medias description of the generation is strange to me.

 

[Gobears81]

Gobears, looks like you are not millennial after all.

LOL guess not. I was told growing up that I was part of Generation Y, which is a term that you never hear anymore. I looked up on Google after seeing all the Millenial talk and it said 1981 - 1996. Who knows

http://www.pewresearch.org/fact-tan...e-millennials-end-and-post-millennials-begin/

 

[Randolph Kinney]

How many of us were so fortunate as to land their career job right out of high school or college?

I worked my way through college. Circle K, vending machine stocker, night security, etc. After graduating college, went to work for Dickson Electronics as a process engineer right away.

Would a 20 or 30-year-old be as willing to put up with that kind of misery for 25-years?

Parents had to go to court to evict their 30 year son. He was not working.

A judge sides with parents and rules their 30-year-old son must move out

A 30-year-old man didn't get the message that it was time to move out of his parents' home, even after they left him five notices and an offer of cash to help find new digs.

https://www.cnn.com/2018/05/22/us/judge-rules-son-must-move-out-new-york-trnd/index.html

 

[Randolph Kinney]

Plenty of millennials doing just fine. The medias description of the generation is strange to me.

30% of Millennial Men Have No Job

New Study Shows Millennial Men Less Likely to be Employed Than Their Elders Were at the Same Age

While the Millennial generation born from 1981 to 1996 is more highly educated than preceding generations, their education is not necessarily leading to higher-paying jobs — or even to any job at all. According to a study recently released by the Pew Research Center, 30% of Millennial men between the ages of 18 and 33 have no job. Approximately 8% are unemployed and 22% are not engaged in the workforce at all.

https://www.moneytips.com/30-percent-of-millennial-men-have-no-job/885

The second occupation which is most likely to be filled by a millennial is bartending. There are about 454,000 bartenders in the U.S., 190,000 of whom are between the age of 25 and 34. Bartenders are not particularly well paid, the median bartender earns only $20,800 per year.

 

[Gobears81]

I worked my way through college. Circle K, vending machine stocker, night security, etc. After graduating college, went to work for Dickson Electronics as a process engineer right away.

I had several jobs through college, as well. My wife grew up poor and had no financial help from family members so she certainly worked quite a bit through college also. There were no "gap years" or returning to live at home after college. I got a job as soon as I could get one, even though the 2006 job market was particularly unkind to college grads. I've had one other job since graduating and have no regrets for switching from said job into appraising.

Parents had to go to court to evict their 30 year son. He was not working.

A judge sides with parents and rules their 30-year-old son must move out

A 30-year-old man didn't get the message that it was time to move out of his parents' home, even after they left him five notices and an offer of cash to help find new digs.

https://www.cnn.com/2018/05/22/us/judge-rules-son-must-move-out-new-york-trnd/index.html

As mentioned earlier, the lazy and incompetent extend to all age groups. Just come out and say what you are ever so subtly needling at

 

[Joe Flacco]

30% of Millennial Men Have No Job

New Study Shows Millennial Men Less Likely to be Employed Than Their Elders Were at the Same Age

While the Millennial generation born from 1981 to 1996 is more highly educated than preceding generations, their education is not necessarily leading to higher-paying jobs — or even to any job at all. According to a study recently released by the Pew Research Center, 30% of Millennial men between the ages of 18 and 33 have no job. Approximately 8% are unemployed and 22% are not engaged in the workforce at all.

https://www.moneytips.com/30-percent-of-millennial-men-have-no-job/885

The second occupation which is most likely to be filled by a millennial is bartending. There are about 454,000 bartenders in the U.S., 190,000 of whom are between the age of 25 and 34. Bartenders are not particularly well paid, the median bartender earns only $20,800 per year.

30% sounds pretty high. Tell you the truth I think the parents are just as much to blame for enabling their kids to be unemployed.

 

[Randolph Kinney]

I had several jobs through college, as well. My wife grew up poor and had no financial help from family members so she certainly worked quite a bit through college also. There were no "gap years" or returning to live at home after college. I got a job as soon as I could get one, even though the 2006 job market was particularly unkind to college grads.

Times are different as well as expectations. I had no desire to make $1,000,000 or retire early.

As mentioned earlier, the lazy and incompetent extend to all age groups. Just come out and say what you are ever so subtly needling at

My father kicked my brother out of the house when he was 32. There are lazy people in every generation.