US jobs: Boomers still working

US job losses since the recession began in December 2007 now total 5.1m, and the increase in unemployment is now topped by only one post-war recession. Only the over-55s are adding jobs, forced to work by the hit to their savings. Real wages are still rising, but they are likely to drop, probably through resurgent inflation. In terms of the unemployment rate, now 8.5%, the current recession now trails only that of 1982, in which unemployment peaked at 10.8%. In terms of jobs lost, it also trails...