The Labor Force Refuses to Grow – Age Discrimination?


Ageism?

Ageism is a real problem. And it could also be responsible for the low labor force getting stuck at this level. Boomers are now between around 56 and 76. This is a huge generation. And in tech, when the hiring manager is 32, and you’re 56, it’s tough getting that job. And when you’re 62, it’s even tougher just to get anyone’s attention. Some succeed. But many don’t.

Many of these people, often with a superb job history, may never get a job in their field again. Many of them made enough money to where they don’t have to work. They’d like to work, but it’s tough getting ignored or rejected time after time because of age.

And they give up “actively” looking for a job, and thereby they’re removed from the labor force. They were dropped from the labor force due to ageism, not because they wanted to retire. And they might tell everyone, after they give up looking, that they’re “retired,” when in fact, they’d love to work in their field but are locked out.

I Want to Add a Word about Ageism in this Bizarre Labor Market and How it Hits Labor Force & Unemployment Numbers — https://wolfstreet.com/2022/07/08/i-want-to-add-a-word-about-ageism-in-this-bizarre-labor-market-and-how-it-hits-labor-force-unemployment-numbers/

The entire post from Mr. Wolf is worth reading. Obviously there is no data to support ageism as one of the causes for the lack of labor force growth. But it certainly is an interesting hunch.

At last count there were 240 comments on this article.

Okay, Houston, we’ve had a problem here. https://www.nasa.gov/feature/50-years-ago-houston-we-ve-had-a-problem

Intel Layoffs Spotlight Plight of Aging Workers – OregonLive.com

People over 40 were two-and-a-half times more likely to lose their jobs in this spring’s layoffs than Intel employees under 40.

Source: Intel layoffs skew older, spotlighting plight of aging workers | OregonLive.com

Intel is obviously not in the insurance business but I felt this was an excellent article on ageism and the fate that awaits virtually everyone in the corporate world.  As strange as it sounds you really have to plan on doing something else before you need to do something else.

In my part of the country the current state of the energy industry has and will continue to affect many families.  If you’ve held a highly specialized position in energy the chances of finding a comparable job somewhere soon is slim.  Time to do something else.

Plan on earning less than you thought you would be earning.  The probability of this occurrence is higher than you think.  Find some other line of work, either your own small business or a company who appreciates old people.

Better yet, don’t get old.