Employees over 50 have a lower chance of getting laid-off, but according to a recent report from Reuters, it seems that they have a much harder time finding a new job than their younger counterparts. In this tough job market, many people are finding themselves having trouble finding a new job. But, it seems that for older workers, the job search odds are more daunting.
A study done by The Urban Institute shows that the average jobless rate for employees over 55 was 7.7 percent for men, and for women it was a little lower, at 6.2 percent. The rate is much lower then the national average, of just under 10%. One of the reasons for this lower rate is that seniority for those who have been working at the same job for many years. The study showed that workers over 50 were 34% less likely to lose their job during lay-offs than younger workers.
Even though the unemployment rate is lower for those over 50, they were also one-third less likely to find a new job. When workers pass 62, the picture gets bleaker, with them being only half as likely as younger employees to find another job.
For workers over 50 who are able to find a new job, they are often going to have to accept a lower salary than they had before. The study showed that workers between the ages of 51-61 who found new employment, received 20% less than their former jobs. The study suggested that employers don't hire as many older workers because they think that the older employee will require a larger salary, may not have up-to-date skills and may not stay in the position long enough to justify the expenses of training them to the new job.
Over the past few years, age discrimination claims have reached an all time high, and more and more older, displaced workers are becoming frustrated about their chances of finding a new job. Some of the best things that older job seekers can do to raise their odds of finding a new job are :
- Keep up-to-date on your skills – Social media, networking and computer skills are essential in today's job market. To demonstrate your skills to a new employer, start building your social network now and participate in discussions relating to your industry. Add links to you Twitter and Linkedin profiles on your resume. This will clue the employer into the fact that your computer skills aren't just basic, but that you are familiar with navigating the Internet and connecting with people using social media.
- Make your job search broad – You may not find a new position that is exactly like your previous one. Consider looking at related jobs that aren't exactly like your old one.
Finding a job when you are over 50 may be a bit more difficult, but it certainly isn't impossible. The key is to be sure to demonstrate to a potential new employer that you are comfortable using technology, that you are flexible to change and that you are willing to do whatever it takes to succeed.
What do you think about this study? Have you ever dealt with age discrimination? Let me know in the comments.
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By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for Logisticsjobsiteblog, along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.
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