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xchrom

(108,903 posts)
Wed May 16, 2012, 01:31 PM May 2012

Why Older Americans Have the Worst Long-Term Unemployment Crisis

http://www.theatlantic.com/business/archive/2012/05/why-older-americans-have-the-worst-long-term-unemployment-crisis/257228/



We have, on this site, focused like a laser beam on the job crisis for the young. But today, a compelling report from the GAO reminds us that among those who have lost a job, older Americans might just have it worse.

Actually, they absolutely have it worse. Americans over the age of 55 are the least likely to find another job and the most likely to take a significant pay cut for the next position.

Who they are: Since 2010, more than half of all unemployed older workers -- or 1.1 million people over the age of 55 -- have been out of a job for more than six months. Forty-two percent have been out of work for more than a year (see graph).

Even when older people find new work, the new wage is typically only 85 percent of the old salary. By comparison, typical displaced worker between the age of 20 and 54 finds a new wage that's at least 95% of the old salary.
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Why Older Americans Have the Worst Long-Term Unemployment Crisis (Original Post) xchrom May 2012 OP
Born in 1956 and unemployed. maveric56 May 2012 #1
What does a maritime engineer do? badtoworse May 2012 #4
Facing the big 5-0 next year rox63 May 2012 #2
The Republican solution: Raise the retirement age gratuitous May 2012 #3
And the Medicare Eligibility age! flamingdem May 2012 #8
I was laid off in January 2010. RebelOne May 2012 #5
K&R. Thanks for posting. n/t Egalitarian Thug May 2012 #6
But I just read how easy it is for "straight white males", LOL just1voice May 2012 #7
No one said it was easy -- just less difficult. Jim Lane May 2012 #9

maveric56

(137 posts)
1. Born in 1956 and unemployed.
Wed May 16, 2012, 01:58 PM
May 2012

I'm a maritime engineer that got the lay-off slip 4 weeks ago. They got rid of all the "Old-School" people, 50 yrs plus. I've been keeping in touch with the other "old-schoolers" and they are finding absolutely nothing as far as employment goes. I feel as if I am at a "crossroads", and have to change professions.

Companies often advertise that they seeking "energetic" workers meaning young.
Old School need not apply.

rox63

(9,464 posts)
2. Facing the big 5-0 next year
Wed May 16, 2012, 02:10 PM
May 2012

I am employed at what appears to be a stable job. But I am making a lot less than I did at my last job. I have at least one friend over 60 who has been unemployed for about a year, and she is having a very hard time finding work.

gratuitous

(82,849 posts)
3. The Republican solution: Raise the retirement age
Wed May 16, 2012, 03:49 PM
May 2012

Unfortunately, we no longer have the imagination or creativity to think of some other solution, so that's the one we're probably stuck with.

RebelOne

(30,947 posts)
5. I was laid off in January 2010.
Wed May 16, 2012, 05:49 PM
May 2012

I was already 70 years old at the time. It was not because of my age because 3 others were laid off on the same day and all were younger than me. My job was completely eliminated. I did not even try to find another job because I knew that people over the age of 50 had a hard time finding employment, and I certainly did not wish to be a WalMart greeter. Fortunately, I was already collecting social security, so I just decided to retire.

 

just1voice

(1,362 posts)
7. But I just read how easy it is for "straight white males", LOL
Thu May 17, 2012, 12:46 AM
May 2012

I guess that "straight white males" game forgot to look at reality.

 

Jim Lane

(11,175 posts)
9. No one said it was easy -- just less difficult.
Thu May 17, 2012, 06:00 AM
May 2012

I'm an unemployed over-50 straight white male. I've certainly been better off in many ways because of being SWM, in that I haven't faced certain prejudices. That doesn't insulate me from other prejudices, like ageism.

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