Young workers squeezed out of labor force

According to a study by the Economic Policy Institute, young workers are being pushed out of the labor market as older workers delay retirement or continue to work for a longer period of time.

The study says the size of the labor force fell 6.3 percent for young workers between December 2007 and January 2010. But for workers 55 years and older, it increased 8.5 percent.

From Reuters:

“This is a troubling development, young adults are less prepared to deal with unemployment than other age groups. Without significant prior full-time work experience, many may not qualify for unemployment insurance, or the social safety net,” the EPI said.

You might remember a Marketplace commentary by Dan Drezner we aired last year, where he, shall we say, took issue with baby boomers holding off on retirement:

The financial downturn has left all sorts of casualties in its wake: more unemployment, depressed wages, and greater economic uncertainty. But I’d like to direct my angst at a different target — the baby boomers. A hidden effect of this crisis is that, in the workplace, as in popular discourse, they simply refuse to get out of the way.

It generated a lot of response. You can read that commentary here, and please do share your thoughts with us.