Unemployed over age 55 face only 47 percent chance of new job, statistics reveal

The unemployment trend since the beginning of the Great Recession is to layoff workers over the age of 55. Many are joining the college graduates in search of career opportunities. Phys.org photo

At the beginning of the Great Recession and continuing today is the trend to layoff individuals over the age of 55. The layoffs or firings have nothing to do with job performance or loyalty to a business or corporation. Employees over 55 just cost to much. If you think about it, most 55+ are at the highest salary of their careers and are looking toward the end of the tunnel called retirement. Another reality check facing 55+ employees is their increase use of health insurance to cover medical needs as they grow older.  In return, those medical needs could possibly cost an employer more and affect their financial bottle line.

Read Tom LeCompte’s blog from Boston’s NPR news station website, WBUR, which discusses job loss statistics and why over 55 might mean delayed retirement and new career challenges.

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