For the Unemployed Over 50, Fears of Never Working Again

From The New York Times: http://www.nytimes.com/2010/09/20/business/economy/20older.html?_r=1&hp

By MOTOKO RICH

VASHON ISLAND, Wash. — Patricia Reid is not in her 70s, an age when many Americans continue to work. She is not even in her 60s. She is just 57.

But four years after losing her job she cannot, in her darkest moments, escape a nagging thought: she may never work again.

College educated, with a degree in business administration, she is experienced, having worked for two decades as an internal auditor and analyst at Boeing before losing that job.

But that does not seem to matter, not for her and not for a growing number of people in their 50s and 60s who desperately want or need to work to pay for retirement and who are starting to worry that they may be discarded from the work force — forever.

Since the economic collapse, there are not enough jobs being created for the population as a whole, much less for those in the twilight of their careers.

Continue reading at:   http://www.nytimes.com/2010/09/20/business/economy/20older.html?_r=1&hp

3 Responses to “For the Unemployed Over 50, Fears of Never Working Again”

  1. Karen Says:

    I’m in that situation right now… I’m in my mid 50’s and I was in a well paying professional management position.

    I lost my job a year and half ago when my employer went from over 100 to 4 (not a typo). I applied for a LOT of jobs.. had a few interviews but no offers … and not even an interview in the last 5 months…

    We don’t have enough money for me not to work.. and I need to make a decent income to get by (though we can get by on significantly less than I was making)…

    So far we have been able to survive because of the extended UI and Cobra subsidies. But those are ending soon

    • Suzan Says:

      There are a lot of people in the same situation. The off shoring has gutted our economy when the reality is many of us are tired of buying every new gizmo they try to sell us.

      Many of us find our selves in the new servant economy or retail hell where part time job at below a minimum living wage are the norm.

      I know people with advanced degrees working in food service and retail while owing many thousands in student loans.

      The Voo Doo economics of the neo-cons and neo-libs have destroyed the world for those of us who work for a living. If people don’t rediscover John Maynard Keynes and Keynesian economic pretty soon the free market ideology will mean the end times for capitalism.

      And when that happens we will face either full blown fascism or a socialist revolution.

  2. tinagrrl Says:

    “And when that happens we will face either full blown fascism or a socialist revolution.”

    Well, it might just be a revolution — an uprising of angry people who have different goals just fighting against whatever the “establishment” is. Everyone seems to hate “the bankers” — except for the bankers — and those who make their living off them. This could include many political types, quite a few lawyers, etc.

    From what I read on line, left, right, and center (whatever that is) ALL hate the above.

    If there really is such a thing as a “popular uprising” — if things get so bad that something like that happens — I suspect the fallout will NOT be a pretty thing.

    In our past, we have always had a genius for the possible. We usually found a person who actually saw the mood of the country, and took action before the worst happened. FDR was such a person — he saved the rich from revolution, he extended the life of The Republic by doing enough to ease just enough of the pain.

    The right wing that has hated him from the very beginning don’t realize how lucky they were. There was no guarantee their Fascist forces would win in any revolution that might have happened.

    Right now, we need such a person. Now even the RICH are complaining that THEY do not have enough. People making around 500,000 per year — putting them in the top one percent — bitch that THEY need the Bush tax cut to be extended, “to make ends meet”. This sense of entitlement permeates our entire society.

    Meanwhile 1 in 7 lives in poverty.

    There’s something very wrong here.


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