How are older, laid-off workers faring?

Older workers in their 50s and 60s nearly close to retirement are losing their middle income jobs. Statistics shows that

But older workers are clearly making up a bigger share of the so-called “mass layoffs” tracked by the U.S. Bureau of Labor Statistics. In the second quarter of this year, workers 55 and older made up 22.5 percent of the large-scale layoffs tracked by the BLS — nearly double the first quarter of 2001.

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It is sad to see that these age group of adults are having a hard time trying to find another job that will supplement the one that they have lost.

Many of them belong in the manufacturing business.

One of the reasons many of this age group do not get into the nation statistic is because they will fall from the government’s statistical.

Many will give up looking for jobs because they can not find any.

Still many experts say that the jobs been created are raising in wages but the amount of jobs also created are low pay jobs.

But how hard it is for people in the 50’s up to 65 able to find a job that will be in the same pay rate than the one they lost.

No many.

Health-care costs could jump 10 percent in ’07

It looks very sad for his age group if this becomes a reality.

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Many of the older workers who can't find jobs are probably being helped by their children and families. That's probably why they fall from the statistics.

The older workers who have no family to help them probably have to resign themselves to low paying jobs because it's better than nothing.



[edit on 14-11-2006 by elaine]

I live in flint mi and work for a union shop as a commitee person. I can tell you most of gm plants are offering early retirements and buy outs for the older workers. Now guys in my age group (30-40)with no real schooling and families with small children are having a tough go at it. Many are going from 60 to 100k a year jobs to 9 and 10 dollar an hour jobs with no benefits. Doing the type of work i do i get involved with alot of hardship type cases and many have lost homes and families. Its dam hard to bounce back and alot of ppl just dont have the metal to do it all over again. sad to say

It was a time in some societies that grown childrens would take care of their aging parents.

But the way families keep struggling to work to put food on the table in our society is becoming very hard for a family to work and also support elderly parents.

But it is happening, perhaps in the more way off group, but on the struggling groups the elderly ends living in poverty and having to depend on the government.

Job grow in America when it comes to good paying ones is very low, I see more and more retired people like my neighbors across the street working in Wal-mart to supplement hs retirement income.

My father at 75 after been retired for a while had no choice but to go back to work, even when the home I grew up is already pay for.

Why . . . because he found out that he may be living a long time and the money he saved for retirement will be gone at in not time.

Now the baby boomer's will be retiring and the ones that didn't save enough for retirement will become part of the system.

I wonder how much damage is doing to our economy when good pay jobs are going away and the tax revenue is no longer there.

Specially when the person that used to pay taxes now becomes a burden to the state care.