It's Not Easy
Older workers, out of work as a result of the Dot-Bomb,
9/11, and/or corporate scandals have had difficulty finding jobs.
Being over 50 years old and accustomed to a lofty salary is a lethal
combination of factors.
This segment of unemployed workers is having a rough time. They
really want to work, but still expect to match old income levels.
This expectation has been unrealistic over the past two years. Our
subscribers have shared stories of utter frustration, lost homes,
and strained marriages, byproducts of the financial stress of being
These workers were good at their jobs, so they climbed the corporate
ladder with ease. Their incomes rose steadily. In some cases, their
salaries grew simply because their industry was booming. Then the
economy slowed and their employers looked for the most effective
ways to cut costs. At the top of the list were employees whose incomes
had grown beyond their value.
A great number of these highly educated, highly skilled, experienced
people remain unemployed. They are seasoned professionals in their
late forties, fifties, or even sixties. As they seek job opportunities,
many of these people encounter age discrimination. It is never overt;
that would be illegal. Their resumes are accepted. Sometimes they
are even granted interviews. But then, time after time, someone
else is hired for the coveted position. Sometimes, part of the problem
is that these job seekers are still holding out for the high salaries
they earned in the past. Most eventually adopt more realistic expectations;
however that altitudinal shift is often insufficient to change employers'
History will show that shortsighted employers who overlook senior
workers will wish they had been more considerate. Wise older workers
will strive to maintain skills and acquire new ones to stay current
and marketable. Some will return to school; others will ask employers
to provide needed training and development. Responsive employers
will realize a great return on their investment in this endeavor.
As the economy recovers and the labor market tightens, older workers
with maturity, stability, experience, and desire to work will become