Boomers’ retirement will hit hard, and many businesses say they aren’t prepared

[KansDem]

The society reported that more than half of the organizations surveyed said they don’t actively recruit other older workers. And that’s somewhat ironic. The same survey respondents listed these “advantages” they get from older workers compared with younger ones:

▪ More work experience, 77 percent.

▪ More maturity or professionalism, 71 percent.

▪ Stronger work ethic, 70 percent.

▪ Able to serve as mentors to younger workers, 63 percent.

▪ More reliable, 59 percent.

Tina Uridge, executive director of Clay County Senior Services, an organization financed by county taxes that works with about 50 nonprofit organizations, said she sees high priority placed on trying to retain experienced workers.

“They have the institutional knowledge, the emotional maturity,” Uridge said of the tenured nonprofit and social service employees she encounters. “And in small organizations like mine — we have just 3½ employees — it’s essentially to have a lot of cross training and teamwork.”

--more--
http://www.kansascity.com/news/business/article7636571.html

It's a dilemma: older workers are shunned in favor of younger ones who will work for less, but older workers are more valued for their experience, professionalism, and ethics.

What's a boomer to do?

[djean111]

1. Evidently. we are supposed to find the few ice floes that are left, and float out to sea

on them.

[enlightenment]

2. It's enough to make your head explode.

It's not even about wages these days - many older workers would happily accept a lower wage in return for some financial security. It's age discrimination . . . unacceptable if it's a younger worker getting the short end of the stick, but perfectly okay if it's an over-50.

[whatthehey]

3. Data here are not what many would expect from reading DU

While I am sure many 50+ folks, of whom I am one albeit only just, have a tough time finding work once they lose it, especially at mature-career pay levels, the overall employment picture we face is not the eternal and unchanging doom often portrayed here.

Official BLS annual stats for 2013, the most recent available:

Average labor force unemployment: 7.4%
50-54: 5.6%
55-64: 5.3%
65-69: 5.7%
70-74: 5.3%
75+: 4.4%

all of them lower than any other age group. In other words seniors who want/look for work are employed at higher levels than any other age group. 25-29 for example has 8.1% unemployment for 2013.

Now the participation rate declines with age obviously especially as you pass 60, but many more of us at 50+ either have enough years especially in public sector jobs to retire, or are more likely to be disabled and not available for work, or also are more likely to have a comfortable enough nest egg to keep one spouse at home (you can easily check out wealth by age demographics yourself but we have the vast majority believe me). But, again contrary to most anecdotes on DU, the labor force participation rate at 55-59 is higher than at 20-24 and has an unemployment rate far less than half the younger cohort. Even the education expectation does not explain this as only 29% of the population has a degree in the first place, and unemployment amongst bachelors holders was only 3.7% in 2013.

http://www.bls.gov/cps/cpsaat03.htm