| Seniors feel the brunt of the unemployment blow |
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| Sunday, 29 March 2009 01:01 | |||
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It seems that it was a long time ago when anyone was able to really retire at age 55 or 60. In today’s economy with its severe and unusual challenges, so called baby-boomers over 55 are competing with young adults under thirty to find jobs. In fact, these two groups are currently finding challenges in the job market. Very qualified and experienced adults over 50 are finding it difficult to find jobs on the excuse from potential employers that they have too much experience, while the younger age group is frustrated on the grounds that they are under-experienced. However, the plight in people over 50 finding jobs is often much more serious. Most people in this age group have extended financial responsibilities, which make it necessary that they keep working, in some cases, until 70. Many took out mortgages well after age 40, are funding children in college, and are strapped with other inescapable bills. But, that is not the complete story. Although, there are bills to be paid long after retirement, another challenge faces those over 50. Most are very qualified and experienced in their chosen career path, and, particularly if they are in reasonably good health, prefer to be able to continue working at these careers. But, the chance of this happening is becoming less likely. When companies decide to cut back staff, often it is the more experienced people over 50 that get axed. It is only very few seniors who are fortunate enough to get reemployed in their chosen fields. Several employment and executive search agencies across the country are reporting a steady upward trend in people over 50 seeking jobs. The head of an executive search agency in Cleveland, Ohio, said the on the average the resumes of these people “are ultra-impressive.” He said most have experience in fields like management and marketing for over 20 years, have master’s degree, but, still, it is difficult to place them. Some companies believe salaries and benefits to be paid to older employers as comparatively higher than that paid to younger, less experienced employees. Others, consider older, more experience employees as inflexible in their approach to the job, and prefer less experience, employees whom they can train in accordance with a specific corporate culture. On the other hand, according to this executive, some older, experienced individuals are fortunate to land jobs as consultants to assist in training, younger, less experienced employees, but invariably such consulting contracts are of relatively short tenure. It’s not unusual today to find highly qualified and experienced seniors taking less paying jobs that hardly require any of the experience they have. Another executive at a employment agency in Boca Raton, Florida, said she sometimes find it embarrassing to try to place a former executive at a large company, with several years experience and strong education qualifications, in jobs that are really suitable for high school graduates. But, she said, the seniors after being frustrated in the job search will take these jobs as there is nothing else available. She also indicated that some employers are reluctant to employ older employees because they have already “done their time” and think they ought to step aside and give younger people a break. Another developing trend is that unemployed seniors unable to find work in their customary career path have had to seek training in new, alternative careers. Vocational schools and colleges that offer specialized, extended career training are indicating a spike in applications from people over 50. Seniors, if they really want to remain employed, have to be willing to embark on alternative career paths.
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| Last Updated on Sunday, 29 March 2009 01:01 |
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