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American Workers Over 50 Beware

 
Runs 2018-12-28 11:44:54 

After 50, many are let go from high paying jobs. Very interesting article.

Only one in 10 of these workers ever again earns as much as they did before their employment setbacks, our analysis showed. Even years afterward, the household incomes of over half of those who experience such work disruptions remain substantially below those of workers who don’t.

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Emir 2018-12-28 12:50:34 

In reply to Runs

Fantastic article, thanks for sharing.

I believe a lot of false assumptions drives hiring policy decisions.

 
Runs 2018-12-28 12:52:14 

In reply to Emir

It is the hidden truth, that age discrimination law is toothless, companies work their way around it. The law of diminishing returns take effect after 50.

Young fellas keep the lifestyle simple and sock away those raises and bonuses. wink

 
goofballs 2018-12-28 12:58:22 

In reply to Runs


Nice, long winded article.
My brief view:
Nobody wants old people anymore.
They earn more due to sequential raises, COLA etc over the years. The more senior/older earn more.
The longer they stay the more pension you would have to pay out. Most old timers got vested in private pensions. That "bad" habit has been terminated by most corporations who offer a mere pittance of a contribution if any to employees' own 401k savings plan.
Older the guy, more computer/tech illiterate they are, less flexible or dynamic.
The hungry, ambitious newbies are very willing to clap for a living.

 
Drapsey 2018-12-28 12:59:54 

In reply to Runs

I've been fired only once in my career. It happened 3 weeks before my 50th birthday.

And to add salt to the wound, my first (and only to date) appointment at the Unemployment Office was on my 50th birthday.

 
Curtis 2018-12-28 13:20:16 

In reply to Drapsey

Nothing to fret about.Job change is most times good. It may take a while for the next gig but you have to remain positive.

 
Drapsey 2018-12-28 13:23:38 

In reply to Curtis

That was years ago (now you're making me give away my age wink ), Curtis.

I landed on my feet.

 
Runs 2018-12-28 13:49:40 

In reply to Drapsey

It is how you manage it that matters, kudos wink

 
Drapsey 2018-12-28 14:12:31 

In reply to Runs

It is how you manage it that matters, kudos

I was lucky to have clients (of my former employer) salivating over my availability.

 
Runs 2018-12-28 14:18:17 

In reply to Drapsey

lol nice

 
ray 2018-12-28 14:33:35 

In reply to Runs

Very true

 
ray 2018-12-28 14:43:20 

I changed my career in my min 40s to keep relevant after 50

 
birdseye 2018-12-28 15:51:56 

In reply to Runs

Another form of creative destruction ---- a policy that has come in many forms – the industrial revolution, the technological revolution, etc., etc.

Is greed a synonym for money ----- well, whatever --- it – they the root of all evil

 
Runs 2018-12-28 16:09:42 

In reply to birdseye

Capitalism in its truest form, maximising the bottomlime cool

 
Casper 2018-12-28 17:03:51 

It was Unionism that helped to build the Middle Class and Right-wing Conservatism that continues to destroy it.

Yet, the more unfortunate fools who continue to support right-wing conservatism in the belief of some propaganda to Make America Great Again vote against their interest, as their middle-class dream disappears further from their reality.

 
Runs 2018-12-28 17:09:24 

In reply to Casper

eediats lol

 
Casper 2018-12-28 18:02:28 

Unions Help Middle Class Families Save For Their Future

The loss of unions has done real harm to American families' financial security. Declining union membership, for one, contributes to massive wealth inequality. Many families struggle to deal with economic emergencies, have a hard time getting ahead and face an uncertain retirement, partly because a key to building middle class wealth, the labor movement, has diminished in importance.


Wealth is key to families' economic security. It is a way to handle the fallout from a financial emergency, such as a layoff or a large medical bill. Yet, four in ten adults could not pay for a $400 emergency without borrowing or selling assets in 2017, meaning they had no or very few emergency funds.


Yet, the dumb arses would want to kill off ObamaCare, one of the few lifelines to reasonable heath care

It is also a means to achieve economic mobility. Wealth allows families to move to a neighborhood with more desirable schools, finance a start-up or invest in an existing business, support a career change when new and better opportunities arise and help pay for their children's education. The lack of wealth then leaves a growing number of families with more limited opportunities to get ahead.


As the Middle-Class shrinks, the Right-wing wants them to be angry, not at the 1% which may have more than its fair share, or incapable of consuming their disproportionate share in more than 10 lifetimes, but to direct it at the new immigrants.

Families also need substantial wealth in retirement accounts, other financial assets and home equity to supplement their future Social Security checks and enjoy a secure retirement. Yet, about half of all working families do not have enough to make ends meet and face an insecure retirement, with possibly large and painful cuts to their spending in retirement.


The growth in wealth inequality then has gone along with a decline in union membership . My co-authors and I showed in a 2016 paper that union families had greater wealth than non-union ones. Based on the Federal Reserve's Survey of Consumer Finances, we calculated in an update that, from 2010 to 2016, union families had a median wealth of $80,993 (in 2016 dollars) compared to $45,025 for non-members -- a difference of 80%. But, the share of workers in a union has steadily declined over the past thirty years, giving fewer and fewer workers access to the benefits of a collective bargaining agreement that helps families build wealth for their future. Fewer union members has meant rising wealth inequality.

 
birdseye 2018-12-28 18:10:14 

In reply to Casper

It was Unionism that helped to build the Middle Class and Right-wing Conservatism that continues to destroy it.

Yet, the more unfortunate fools who continue to support right-wing conservatism in the belief of some propaganda to Make America Great Again vote against their interest, as their middle-class dream disappears further from their reality.
They cut off their nose to spite their face ----they go against their best interest all because of their misguided belief that the rising tide that would lift their boat, lift minorities boat higher --- again a totally misguided belief ---- the ultimate irony to all this is that many with yachts on the high seas succumbs to this belief --- racism is a bitch….

 
Chrissy 2018-12-28 18:39:07 

In reply to Runs

Good read

 
nickoutr 2018-12-28 19:20:02 

Build that wall ... save American jobs

 
uton 2018-12-29 03:02:14 

In reply to nickoutr

Build that wall ... save American jobs
Which jobs do migrants take from hard-working Americans? If you want inexpensive fruits, reasonable restaurant prices, cheap milk, babysitters and laborers for the construction industry then wake up and stop spouting crap.

 
Headley 2018-12-29 08:08:47 

In reply to Casper

You would think Democrats would be preaching the gospel of union membership at every chance but instead they let the Repugnants set the agenda.

 
sgtdjones 2018-12-29 09:18:19 

In reply to Headley

Charlotte st Headley

You are lucky you only 39

Season Greetings

razz razz razz

 
birdseye 2018-12-29 09:19:00 

In reply to Headley

You would think Democrats would be preaching the gospel of union membership at every chance but instead they let the Repugnants set the agenda.
Well the democrats you talking about are cut from the same cloth as the republicans, they might be a little more democratic than their republican counterpart, but they are not totally free from their genetic heredities. The republicans however just don’t smokescreen their oppressive authoritarian biases

 
StumpCam 2018-12-29 09:19:30 

In reply to ray


I changed my career in my min 40s to keep relevant after 50


Same here, 10yrs into my second career! Looking forward to my 2 pensions! wink

 
Runs 2018-12-29 09:22:42 

Rural Americans abandoned and left behind.

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But they are all for supporting him to @&$@ up the entire system, deconstruct the administrative state.

 
birdseye 2018-12-29 09:37:14 

In reply to StumpCam

If my company/department was integrating some new program/technology – I would check the institutions of learning in my area to see if they were offering courses on the topic and go register for some weekend or evening classes ----- complacency in the workplace is a legacy of the past

 
sgtdjones 2018-12-29 09:42:35 

In reply to birdseye

Season Greetings Birdy

cool

 
birdseye 2018-12-29 09:51:35 

In reply to sgtdjones

thanks bro - all the best for the new year --- house full right now - happy when they come - happy when the leave big grin

 
goofballs 2018-12-29 10:05:59 

In reply to birdseye

Bravo!

I know a young man who topped his class about four years ago.
He predicted that in four years the product or methodology at his business would change and did classes at a top university.
When the change hit everyone "suddenly, out of the blue" to, he was already well equipped to handle higher levels of the new management.

Vision and anticipation plus preparation for necessary/inevitable changes help in almost everything in life, including cricket.
Old farts like me could not/would not change when they introduced electronic records about a decade ago. Who wants to learn to type in their forties/fifties? Plus electronics so complicated!

Well, because they could not replace me they invested in courses and had a tech savvy professional work with me, follow me around for three months to ensure I got it straight.

Modern day businesses don't have the time or resources to wait on the geriatrics to learn something new.
As I said, the youths are willing to clap (whatever tune is asked for) or be an ambassador to put food on the table. wink

 
StumpCam 2018-12-29 10:25:10 

In reply to birdseye

Not if the integration was taking place in China! lol
BTW, I was not let go! I saw the writing on the wall and made appropriate plans to go in a different direction even though I loved what I use to do.

 
Runs 2018-12-29 10:31:57 

In reply to StumpCam

Being dynamic is key, good for you cool

 
birdseye 2018-12-29 11:01:55 

In reply to goofballs

I understand – I resisted the microwave for a long time – just didn’t think it was healthy ---- now I couldn’t live without it big grin

 
Runs 2018-12-29 12:08:27 

More Americans want to join unions

Link Text

 
tc1 2018-12-29 20:11:27 

In reply to birdseye

my wife thru out all our microwaves back in the 90, guess what she still got sick.

 
goofballs 2018-12-29 20:18:19 

In reply to birdseye

now I couldn’t live without it


Like yuh gyal leff you or wah?


smile