Employment Numbers and Baby Boomers Retiring

Official job creation numbers came in Friday and the numbers were decent at 175,000. The unemployment figure climbed slightly to 7.6% as more people out of the workforce started looking for employment, again. The Federal Reserve is not expected to ease off on the economic stimulus until 200,000 plus jobs are generated per month for at least several months in a row.

Each day 10,000 baby boomers turn 65 years old in the U.S. Not all in this age group are in the workforce and many who are will not opt to retire. At the same time thousands each day are choosing to retire and leave their jobs behind. Many of the jobs they retire from will need to be filled by co-workers or new hires.

The percentage of labor force participation may become a major issue in the future. With unemployment still very high it is hard to imagine unemployment so low that corporations have problems filling positions. It is already tough filling technical positions. It is only going to get tougher for private enterprise as they compete for the limited talent pool. Public agencies will find it even tougher to compete because they can’t offer the much higher wages available in the private sector.

The end of 2014 may see the U.S coming close to reaching full employment with all the benefits and challenges that come with it. Baby Boomers will still be a part of this workforce, but hopefully most will be working by choice and not by absolute necessity created by the Great Recession. Only time will tell.

The Warehouse Artist Lofts (WAL) (formerly known as Capitol Lofts)

R Street Lofts, Sacramento, CAR Street Lofts, Sacramento, CAR Street Lofts, Sacramento, CAR Street Lofts in Scramento, CA. Inside work and adjacent lot is bulldozed.
R Street Lofts UpdateR Street Lofts, Sacramento, CA. Window frames looking good! Warehouse Artists Lofts on R Street in Downtown Sacramento. Look at those beams inside. Unique and awesome.6/8/2013 walking past Artists Lofts project. Two year project coming along!
6/8/2013 walking past Artists Lofts project. Two year project coming along!

The Warehouse Artist Lofts (WAL) (formerly known as Capitol Lofts) are now being built! This warehouse to lofts project has been on the drawing board for a long time. I am not associated with the project, but one member of the community who has been on the interested list since the year 2000. Check blog4boomers.com for regular picture updates as i snap shots on my way to work.

Economy is Improving and Now the Fear is Too Many New Jobs?

The economy is improving. Job numbers come out Friday morning and some market watchers are concerned they might be too good. Really! Job numbers that are too high might be a sign of higher inflation and interest rates to come.

Oh, please! Are we really supposed to root for 100,000 new jobs instead of 200,000 simply to avoid these possibilities? What employers like mine should fear is a stronger job market creating opportunities for employees who are not thrilled with their current positions and lack of opportunity.

Bring on strong job growth. Let the market dictate like conservatives always advocate and let employees migrate to jobs that use their skills and to employers that understand basic economics.

Long Term Spending Priorities and American Infrastructure

Debates continue over the extent of federal budget deficits and the long term consequences on the overall economy. The debates are very political and partisan. We need to stop being so partisan and start spending on our nations crumbling  infrastructure. The U.S. suffers from long-term out of whack spending priorities. Our lack of spending on critical infrastructure puts Americans at risk everyday. The Washington State bridge collapse is not a shock or even a surprise. It is surprising that accidents like this do not happen more often.

The bridge on I5 in Mount Vernon, Washington was built when most boomers were not old enough to ride a bicycle, yet alone operate a motor vehicle. This bridge and thousands of other bridges are on critical highways used to bring goods to markets. I5 and the bridge in Mount Vernon move traffic between Vancouver, BC and Seattle. Infrastructure failures like this no matter how small the bridge have huge economic consequences.

It was a miracle no one was killed when this bridge collapsed. The U.S. needs to get infrastructure improvements off the drawing boards and immediate action plans to safeguard highways, bridges, water supply and energy grids. We need to get funds into the pipeline and be determined to rebuild our entire infrastructure. The fate of our economy depends on it.

 

Sacramento Kings Staying in their Hometown

The NBA did the right thing. On Wednesday owners of NBA teams voted for the city of Sacramento and to keep the Sacramento Kings where they truly belong, Sacramento.

This is huge for the city. The entire downtown area is about to see revitalization and economic growth. This is much more than a sports story. It is about taking a city that has tended to think of itself as cow bells and a backyard city to San Francisco and Lake Tahoe and turning it into a city about to bloom and be a city that is not in anyones shadows.

Kudos to Mayor Johnson and the ownership group that took action and kept words to a minimum. Sacramento is about to become more than a government town.