Friday, June 3, 2011

Outlook Dim for Age 55+ Job Seekers

It gets depressing reporting bad news about job prospects for Americans, I must admit.  Every day, I search for good news, and it seems each day any good news is outweighed by the bad.  We'll keep trying, though.

Now, onto the (bad) news of the day.

The attached Article from Forbes.com reports that, in May 2011, unemployment rates approached 6.8% for people age 55 and older.  To put that in perspective, in more normal times, the rate was roughly 3%.

The days of working faithfully for a company for many years and receiving a gold watch are apparently over.  Age discrimination claims are on the rise, as older workers are being let go in favor of younger, cheaper labor.  [Think you may be a victim of discrimination?  Click Here for an overview of the hallmarks of unlawful discrimination.]

Once unemployed, my experience is that workers 55+ are in many cases finding it quite difficult to find work.  Recent statistics bear out my observations.  As per the Forbes.com article, unemployed workers age 55 of greater are out of for an average of roughly one year.  In the good old days (say, 2007), that figure was 20 weeks.

Finally, take into account the clear trend against hiring unemployed workers of any age, and we have the makings of a real crisis on our hands.  That is why I believe that an Affirmative Action plan for the "chronically unemployed" is not only an option, but a necessity.  Please Vote on our Poll and/or comment on your thoughts on this concept.

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