Tyler Durden (yes from Fight Club) from the website ZeroHedge attributes this to the devaluation of retirement accounts due to easy monetary policy and the resulting necessity for those age 55+ to reenter the workforce in diminished capacities. Example: Panera Bread in North OKC now has several baby boomers in its employ, recent hires I believe. These individuals are not as productive as they were at their original jobs, in their chosen careers and professions. Yet the labor report from the BLS does not distinguish between fully employed at one's most productive capacity and flipping burgers. Cheering a rise in non-farm payrolls enjoyed almost exclusively by underemployed baby boomers is...well, it's not cheering. So don't cheer.

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