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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhy 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.
maveric56
(137 posts)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.
badtoworse
(5,957 posts)rox63
(9,464 posts)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)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.
flamingdem
(39,313 posts)Hateful freaks they are.
RebelOne
(30,947 posts)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.
Egalitarian Thug
(12,448 posts)just1voice
(1,362 posts)I guess that "straight white males" game forgot to look at reality.
Jim Lane
(11,175 posts)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.