Posted on 05/22/2008 10:14:54 AM PDT by Mr. Jeeves
NEW YORK (CNNMoney.com) -- Too young to retire, too old to get a new job. That's how many older workers are feeling these days.
While it's not easy to land a job in this weak economy, older workers are in a particularly tough spot. Corporate downsizings are hitting this group hard, with many companies looking to shed the higher-paid positions these employees often occupy. Even worse, older job seekers are discovering the search is even rougher as many employers shy away from hiring those closer to retirement than to the start of their careers.
The downsizings come at a bad time for older workers. Not only can't they afford to retire, but many were counting on beefing up their 401(k) accounts in the years before they exit the labor force. Compounding the problem is the slumping stock market, which has left them with a deflated 401(k) cushion to draw on while looking for a new post.
"There are tons of folks out there who cannot afford to live once they've faced that involuntary layoff," said Renee Ward, founder of Seniors4Hire.org, an online community for older workers and companies looking to hire them. "And it takes them a little longer to find a suitable position."
(Excerpt) Read more at money.cnn.com ...
While the economy is going through some turmoil the very basic fact remains that main reason it may be hard to get a job is because UNEMPLOYMENT IS LOW!
I hope so -- because there is much truth in this story based on current personal experience.
My husband (53) has been out of work since October. This week alone he has applied for 12 different positions that I know of, the number may be higher. He has been doing this since October. He has been on so many interviews that I have lost count.
But at least there have been some interviews, the vast majority of companies do not even bother acknowleging the application, let alone informing a person they will not be hired.
Again, at least he has gotten some interviews and/or acknowlegement of application, I can't say the same for me. I have not gotten a single response from any application I have submitted.
“While the economy is going through some turmoil the very basic fact remains that main reason it may be hard to get a job is because UNEMPLOYMENT IS LOW!”
Actually, just the opposite is true. When unemployment is low, that means there are not many people who are competing for jobs because most people have one. When unemployment is high, it is harder to get a job because lots of people are competing for jobs.
Even with all the "new economy" garbage, soft skills like communications and relationship-building are critical, and don't change with the next new business model. In my experience, it's the older employees, not the younger ones, that are better with these skills.
Well, my experience is I am over 40, recently activated my resume on four websites (as of late last night) and have had 15 phone calls and about 20 emails.
If I wanted a job by tomorrow I could arrange it, and my minimum is 90k per year fulltime.
It often can be both.
I started at my place of employment as a Contractor and after three years was offered a permanent full time position. Eight years and counting...
“Just hold on until President Obama unloads his Socialist Empire plan on us. “
Hey, if it works for the rest of the industrialized world...hehehe
“Hey, if it works for the rest of the industrialized world...hehehe”
That’s just it. It does not work anywhere it has been tried, and history has proven that over and over again. But the left cannot get over its wet dream.
He was let go and two young twits were hired in his place. A slam dunk age discrimination case. A year earlier he moved his family across the county at the company's request and relocated to PA. What a freaking hell-hole of a state imho. Montgomery County. As this company was a major-domo employer in the county, arbitration could not find for my father, despite monds of documentation, etc. Mind you, dad would have never fought the government, unless he was right.. one of those guys. He believed in the government. It killed him, he had to take a job at a greatly reduced pay and within weeks was receiving awards from that company for his expert skills. But it was too late. THe stress of taking care of his sick wife on such a lowly pay played on his health and he died of cancer. MOm died a month later. Quite frankly I blame that company for his untimely death for the treatment they gave him.
Did that 5 years ago, can't afford to do it again.
..My company LIKES older workers and hires them first.
Yours is obviously in the minority.
What is this article whining about, exactly?
I am ONE of these in the CNN story......I don’t know if CNN is reliable in terms of the percentages of folks in this category, but I worked for almost thirty years in TEXTILES, and we know where they went....Pakistan, Vietnam, China, etc...Three companie folded, or we bought out and downsized.
I found that it is true that once you hit 50 it becomes HARDER to get jobs in your field if you are in the middle to upper management levels..
GOSPLAN will save us.
No problem!....Hillary or Obama will take care of us...right?
And when a person in this position attempts to survive by becoming a self-employed consultant, the first thing he or she will notice is that you get whacked with DOUBLE FICA contributions, since you now have to pay the employer’s share as well as your own.
Oh yeah, and if you try to incorporate to protect your assets, plan on paying mandatory unemployment insurance (to cover you in case you have to lay yourself off).
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