Then again in retospect, it has never been a stronger labor market. Well, if you are 55 and over that is, the age group that just hit a record 32.6 million in jobs.
Some addition detail:
Here is the breakdown of job gains by all age groups since the start of the depression in December 2007: 5.5 million jobs “gained” in the 55-69 age group. What about the core, 25-54 demographic? Negative 2.04 million.
In fact, looked at differently, it continues to be a story of two labor forces – those aged 55 and older, and everyone else.
And finally, putting it all in context, here is the reason for the drop in the labor force participation rate. Apparently someone forgot to tell those 55 and older they are retiring in droves.