This gives a clue to why so many of our young people are disgruntled with the state of the economy and with the state of the world in general.
After migrating to North America, I am appalled to see so many people over 60 yrs of age, who can very well afford to retire and make place for the young, still opting to continue working. Why don't they retire? Why cling to your jobs until the very end and pretend that you need the job? If you have been working for even 30 years of your life and have been careful with your savings, you don't have to continue doing it. IMO, such people are selfish individuals.
Terence P. Jeffrey writing at CNSNews:
64% Earning At Below Minimum Wage Are Under 30; 63% Work in Restaurants, Bars, Retail.
Sixty-four percent of Americans who earned the minimum wage or less in 2013 were 29 years old or younger, according to new data from the Bureau of Labor Statistics, and 63 percent worked in restaurants, bars or retail.
People 30 years or older equaled only about 36 percent of those who earned the minimum wage or less in 2013--and only 0.8 percent of the people employed in the United States.
President Barack Obama has made one of his key economic initiatives for this year an effort to get Congress to increase the federal minimum wage from $7.25 per hour to $10.10 per hour.
In 2013, according to the Bureau of Labor Statistics, there were 143,929,000 people employed in the United States during the average month. Of those, 75,948,000—or 52.8 percent--were paid an hourly rate.
Of the 75,948,000 who were paid an hourly wage in 2013, 3,300,000 earned at or below the minimum wage.
That means only about 4.4 percent (3,300,000) of hourly wage earners (75,948,000) earned the minimum wage or less in 2013--or only about 2.3 percent (3,300,000) of all U.S. employees (143,929,000).
But the 2.3 percent of American employees paid at or below the minimum wage in 2013 was not evenly distributed across age groups and industries.
50.4 percent—1,663,000—earning at or below the minimum wage were 24 years old or younger.
Another 436,000 were from 25 to 29 years of age. That means 63.6 percent—or 2,099,000—of the workers earning at or below the minimum wage in 2013 were 29 years old or younger.......
"..30 years of your life and have been careful with your savings..."
ReplyDeleteYeah, but that is the trick. Most people(except those rich who worked hard and earned it) are fools with their money.
True. IMO, that's because they have that extra blanket which the govt. promises them by way of govt. pensions and old age pensions. If people had to rely only on themselves for the "savings" they would become much more responsible with their money.
DeleteImmigrants who come here from countries that didn't have govts. looking after people have a better sense of saving for a rainy day which includes old age.
I am not against the old age pension ... no sirree. I am looking forward to it when the time comes. Extra money .... what's not to like about that! :}