Will surge of older workers take jobs from young?
CHICAGO (AP) — It’s an assertion that has been accepted as fact by droves of the unemployed: Older people remaining on the job later in life are stealing jobs from young people.
One problem, many economists say: It isn’t supported by a wisp of fact.
“We all cannot believe that we have been fighting this theory for more than 150 years,” said April Yanyuan Wu, a research economist at the Center for Retirement Research at Boston College, who co-authored a paper last year on the subject.
The theory Wu is referring to is known as “lump of labor,” and it has maintained traction in the U.S., particularly in a climate of high unemployment. The theory dates to 1851 and says if a group enters the labor market — or in this case, remains in it beyond their normal retirement date — others will be unable to gain employment or will have their hours cut.
full article
http://www.salon.com/2014/01/03/will_surge_of_older_workers_take_jobs_from_young/
