From the course: Economics for Everyone: Job Markets and the Economy
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Differences by age group
From the course: Economics for Everyone: Job Markets and the Economy
Differences by age group
- The experience people have in the workforce varies greatly by age. Young people talk about the catch 22, where you need experience to get a job, but you can't get the experience without already having a job. Meanwhile, other groups of people also face challenges in job hunting. When looking at job market data, what are the most important things to know? Well, older workers, those 55 and over, are participating at some of the highest levels in history, and younger workers are participating at the lowest levels in history, well below the 55 and up crowd. Older workers are staying longer for both social and economic reasons. Meanwhile, younger workers are having trouble getting into the workforce, partially because older workers are staying longer, but also because younger people are pursuing more and more education. Workers aged 25 to 54 are considered prime age workers, and they have the highest levels of labor…
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