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 dont.
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American Workers Over 50 Beware
In reply to Runs
Fantastic article, thanks for sharing.
I believe a lot of false assumptions drives hiring policy decisions.
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.
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.
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.
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.
In reply to Curtis
That was years ago (now you're making me give away my age ), Curtis.
I landed on my feet.
In reply to Drapsey
It is how you manage it that matters, kudos
In reply to Runs
I was lucky to have clients (of my former employer) salivating over my availability.
In reply to Drapsey
nice
In reply to Runs
Very true
I changed my career in my min 40s to keep relevant after 50
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
In reply to birdseye
Capitalism in its truest form, maximising the bottomlime
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.
In reply to Casper
eediats
Unions Help Middle Class Families Save For Their Future
Yet, the dumb arses would want to kill off ObamaCare, one of the few lifelines to reasonable heath care
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.
In reply to Casper
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.
In reply to Runs
Good read
Build that wall ... save American jobs
In reply to nickoutr
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.
In reply to Headley
Charlotte st Headley
You are lucky you only 39
Season Greetings
In reply to Headley
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!
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.
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
In reply to birdseye
Season Greetings Birdy
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
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.
In reply to birdseye
Not if the integration was taking place in China!
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.
In reply to StumpCam
Being dynamic is key, good for you
In reply to goofballs
I understand I resisted the microwave for a long time just didnt think it was healthy ---- now I couldnt live without it
More Americans want to join unions
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In reply to birdseye
my wife thru out all our microwaves back in the 90, guess what she still got sick.
In reply to birdseye
Like yuh gyal leff you or wah?
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