Layoffs leave people close to retirement groping in the dark
4 years, 6 months ago

Layoffs leave people close to retirement groping in the dark

Live Mint  

Sanjay Kher, 52, was in the hospital waiting to see his doctor when he texted his boss, requesting a few more days off to recover from surgery for oral cancer. “I have been looking for jobs—part-time, full-time, anything—but I don’t know if I will find one at this age and time,” says the Mumbai resident, who has almost 30 years of experience in sales and marketing. Though there is no clear estimate of how many people close to retirement age have been fired due to covid-related downsizing, HelpAge India’s recent survey of 5,000 people concluded that during the lockdown, 65% of people in the 60-80 age group lost their livelihood. What employers don’t realize is that older adults bring something unique to the table: experience, a helpful attitude and knowledge acquired from years of work,” says Saurav Das, co-founder of Zetta Women, a professional and social platform that helps women and people from the queer community find jobs. “For people my age, it’s hard to get work because people see us as a potential covid risk,” she says, referring to several studies that say older adults are more vulnerable to contracting the virus as their immune systems are weaker.

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History of this topic

Millennial Money: The evolution of retirement — and what it might mean for you
9 months, 4 weeks ago

Millennial Money: The evolution of retirement — and what it might mean for you

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “While bond yields are much better than they were …

Opinion: ‘Work longer’ is no solution for people who can’t afford to retire
10 months, 2 weeks ago

Opinion: ‘Work longer’ is no solution for people who can’t afford to retire

LA Times  

Working as a cashier is physically demanding and usually not well paid. Paradoxically, even as many older folks need to keep working to make ends meet, most people 62-70 are not able to work for a host of reasons and will retire with inadequate incomes or savings. As the Schwartz Center for Economic Policy Analysis reported in 2019: “Between the …

Inflation is driving older Americans back to work
2 years, 5 months ago

Inflation is driving older Americans back to work

LA Times  

Job seekers wait to be called at an employment center in Omaha. “People are staying inside their homes as much as possible because we can’t afford to go out.” The size of the U.S. workforce is nearly back to pre-pandemic levels, but the participation rate — the share of the overall population that’s either actively working or looking for a …

The job market is booming – but not everyone is taking advantage of it
2 years, 10 months ago

The job market is booming – but not everyone is taking advantage of it

The Independent  

Let’s start with a puzzle. The latest data from the ONS shows that two years ago 11.7 per cent of over-65s were in work – more than double the proportion from 20 years ago. The situation is still unclear, as the National Audit Office reported last week, but it does seem that some self-employed people have dropped out of the …

Op-Ed: Pushed to retire and to keep earning, older Americans face a peculiar vise
3 years, 3 months ago

Op-Ed: Pushed to retire and to keep earning, older Americans face a peculiar vise

LA Times  

The COVID-19 pandemic and ensuing recession have hit older workers especially hard. Research at the New School’s Schwartz Center for Economic Policy Analysis finds at least 1.7 million more older workers retired because of the pandemic recession than would have been expected without the downturn. Though a handful of older workers hold the nation’s most prominent jobs — in the …

Three reasons Americans are retiring earlier and what it may mean for the labour market
3 years, 4 months ago

Three reasons Americans are retiring earlier and what it may mean for the labour market

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Based on …

How millennials are coping with the crisis of the century
4 years ago

How millennials are coping with the crisis of the century

Live Mint  

The pandemic has disrupted almost every aspect of people’s lives. The fifth round of the YouGov-Mint-CPR Millennial Survey asked these and other such questions to roughly 10,000 respondents from 203 cities and towns. The older generations saw fewer job cuts but remain more worried about whether they would be able to find new jobs in an environment where companies prefer …

Older workers face higher unemployment amid virus pandemic
4 years, 2 months ago

Older workers face higher unemployment amid virus pandemic

Associated Press  

For the first time in nearly 50 years, older workers face higher unemployment than their midcareer counterparts, according to a study released Tuesday by the New School university in New York City. But in the current recession, older workers experienced higher unemployment rates than midcareer workers in each month since the onset of the pandemic. It found that the pandemic …

Trump is driving millions of American seniors into poverty
4 years, 4 months ago

Trump is driving millions of American seniors into poverty

Salon  

Donald Trump's inept handling of the coronavirus pandemic is condemning millions of older Americans to get by on much smaller incomes and forcing many into permanent poverty, a new study shows. It also can force people to seek Social Security benefits at 62, normally the earliest eligible age, rather than collecting a larger benefit by waiting. There is a solution …

Retirement can be boring but working keeps you stimulated, say older workers
5 years, 4 months ago

Retirement can be boring but working keeps you stimulated, say older workers

ABC  

After working for two years in his substantial Gold Coast garden, Lawrence Waterman realised he found retirement extremely dull. He is one of a growing number of Australians who are both willing and able to stay in work beyond what we have traditionally thought of as "retirement age" 25 per cent of the staff are over the age of 50 …

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