Posted on 11/29/2016 8:01:44 AM PST by SeekAndFind
There’s a stereotypical view of job opportunities for older workers, and it’s not pretty.
It goes something like this. If you’re past 50 and thinking of a career switch, forget it. The opportunities for older workers in the new economy are pretty much nonexistent. And you’re in even worse shape if you’re in your 50s or 60s and retired but want to get back into the workforce in a job that is both challenging and financially rewarding. The only spots available are low-skilled and low-paying—whether that’s burger flipper, Wal-Mart greeter or Uber driver.
Boy, have a lot of people have been misinformed.
The numbers make it clear that the nightmare scenario simply isn’t true. The 55-and-older crowd is now the only age group with a rising labor-force participation rate, even as age discrimination remains a problem for many older job seekers. Workers age 50 or older now comprise 33.4% of the U.S. labor force, up from 25% in 2002. And more than 60% of workers age 65 or older now hold full-time positions, up from 44% in 1995.
In addition, a large part of the long-term increase in employment growth has come from skilled jobs in professional-services industries, according to a 2013 academic paper. Another study found that from 1996 to 2012, just 1.4% of job seekers in their early to mid 50s landed in “old person” occupations—typically “low-paying, low-status” jobs in which older hires outnumber younger hires by at least 2 to 1.
(Excerpt) Read more at wsj.com ...
That’s an excellent success story. Good on you! I’ve been in-house counsel, including the role of general counsel, for several tech/software companies, and I can tell you I know what it’s like to be the “gray hair” and voice of reason. I love the millennial’s energy, and they need my practicality. (Truth be told, I don’t feel or look the 58 yrs I’m turning this month- not when I’m about to hit my goal of 104 pull-ups and 208 push-ups in my P90X3 workout by my birthday!) I don’t plan to quit working until I physically have to, hopefully in the distant future.
Thanks for this timely article. I turned 58 today and, as I get older, I feel that I am that closer to the scrap heap...
Discrimination against older employees is an accepted bias.
I’d hire someone over 50 more often than someone under 30.
They show up for work, they work hard, and their experience is worth tons.
Because the baby boomers are getting older. This isn’t business searching out older workers it is just their work force aging on them.
Older employees on Medicare can accept or reject the group health plan if offered. The group health plan would have to be offered, though.
Older workers are more dependable than the youngsters that want all of the employer-funded goodies without working for them. Most workers under the age of 30 are not worth the time, trouble, and money it takes to train them. This from our former corporate trainer. Time is spent on training, only.to have them washout when these youngsters find out a job is work.
Clarification: IF medical insurance is offered to similarly situated employees of a younger age, it will have to be offered to older employees.
Same problem exists in the building trades. My office was recently remodeled, and the foreman was a guy who I had worked with 30+ years ago when I was working my way through college. I asked him what the greatest challenge was in the building trades, and he said it was the next generation of skilled trades. His generation was getting ready to retire and there weren’t enough young people willing to do the work to replace them. He said when their experience and competence leaves the work place it won’t be replaced.
Of course, I chose not to replace it when I was young. But a couple days of nailing plywood on a roof all day in 38 degrees and steady rain will convince you to get into law school instead.
“... he said it was the next generation of skilled trades...”
I saw the same in the defense industry. I was surrounded by older people. There was a dearth of young qualified engineers and machinists. Part of the problem, I think, was the dot com bubble. Schools all over dropped their trades programs because parents wanted their kids to come up with an internet idea and be an overnight millionaire. Nobody wanted a plumber for a son.
Only now is the local junior college offering trades courses. I can’t say what high schools are doing. I wouldn’t be surprised if it was too expensive and too risky to start shop classes.
There are only two high schools in the area that have technical trade-centered training facilities. The other schools will farm their kids out to those facilities. They attend class in the morning and then are bused to the “career center” in the afternoon.
On a somewhat brighter note, a good number of the young people I have had interaction with have expressed an intent to take up welding. Someone must have told them there is good money in welding.
“a good number of the young people I have had interaction with have expressed an intent to take up welding. Someone must have told them there is good money in welding.”
Talking to the college students at the gym, they are taking out huge loans to be pharmacists. The Publix pharmacist told me they are going to huge centralized automated centers. Robots fill the orders and they are shipped USPS unless they are schedule drugs, which you must pick up from Publix. If you have a question you will be connected to a pharmacist in Bangalore who has your records and will answer your question. The school is lying to the students about their job potential. It’s like dentistry was a few years ago when they were opening dental clinics like barber salons in malls. Way too many dentists.
But, the kids do now want to sweat. They don’t want to get dirty, and, they want to spend a few years partying on borrowed money they will probably never pay back.
Having spent a career as an engineer in an air conditioned building it’s ironic that in my declining years I am sweating my posterior off fixing up rental houses because I got Obama’d out of my retirement and medical insurance.
Really, I wish I had done this in my youth. I’d have started a contracting company and sold it during the housing boom.
“Could be employers don’t want to hire as much from the “participation award” snowflake generation.”
That is this employer’s point of view exactly. My youngest employee is 57, and my guys kick butt!
I had some trepidation when re-entering the workplace. The wide talk of ageism in the tech industry (and other industries). But, I brought some badly needed knowledge to the company.
I do like the young people’s energy, and some of their ideas. But, they do need some wisdom from those a bit more experienced.
Like you, I plan on working as long as physically possible.
Just anecdotally, a family member, aged 86, retired recently from an over the road truck driver career.
Never had an accident.
part time or temp jobs for the 65+ are ok, but I'm talking about full time employment if they want it
RE: But nice spin WSJ.
Can you tell us why you think this is Spin despite the stats provided?
RE: I highly recommend the movie, “Company Men” to get a perspective on what is going on out there.
That movie was made at the height of the great recession.
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