Retirement is no longer voluntary for many boomers-a lot more of them are going to work until the company says no mas...be it a buyout, crappy reassignment, or "layoff" or "reorganization" (really an age-discrimination related firing, but good luck proving that).
But anyway, because the boomers aren't voluntarily retiring and it is a much longer and more difficult process to force them into it, thousands of grads every year who in previous times would be hired are not. This isn't to say I think people who majored in underwater basket weaving should just be given jobs, but for example, where I work we are putting people with degrees in economics and finance from very good schools into back office transaction verification type jobs. People who are bright enough to be analysts no problem...but the analysts who used to be exclusively in their 20s are now in their 30s, and the managers who used to be in their 30s are in their 40s and no one is moving.
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