Jump to Navigation
Home

Main menu

  • Home
  • News
  • Markets Map
  • Sentiments
  • Topics
  • Data
  • Comments
  • Images
  • Blog
  • About

Secondary menu

  • Latest News
  • Top Rated
  • Most Popular
  • Archive
  • Discussions
  • 27,000 Indians apply for exit papers to leave Saudi
  • Oil sands deals lose traction
  • Euro Rises on Better German Data
  • UK Gas Hours From Running Out in March
  • Croda expands with US acquisition
  • The Two Big Stories That Punched Markets In The Gut This...
  • Jet Airways down 4% even as shareholders approve Etihad...
  • Income inequality data still giving off worrisome...
  • Reason for Japan rout lies in Washington
  • London Markets: U.K. stocks wobble as miners, banks...

    No country for old workers

    Thu, 06/17/2010 - 16:40 EDT - Ezra Klein - Washington Post
    • Comments
    • economy

    There's some evidence that gainfully employed congressfolk are recoiling from extending unemployment benefits because they've trouble believing that anyone wouldn't be able to find a job after more than a year. To some degree, this reflects a view of the recession that's national rather than regional. In fact, some states, like North Dakota, have very low unemployment, while some areas, like Detroit, have incredibly high unemployment. If you're stuck in Detroit with a house you can't sell, then it's entirely possible that you still can't find a job.

    But another factor that we're increasingly hearing about is age discrimination. We're used to that in firing, but we're seeing it now in hiring, too. This is coming up in a lot of anecdotal accounts of the recession, in which workers who are older than 50 relay their experience being turned down for jobs that they're vastly overqualified for, and that they're willing to take a massive pay cut to get. In effect, they're too young to retire, but too old to get hired. And the numbers back them up:

    The unemployment rate for over-55s is at the highest level since 1948. Since the recession started, both the number of older people seeking work and the rate of unemployment for over-55s have increased more sharply than for all other demographic groups. And older workers comprise a high share of the long-term unemployed. In May, the average duration of unemployment for older job-seekers climbed to 44.2 weeks, 11 more weeks than the national average. Nearly six in ten older job-seekers have been out of work for more than six months. [...]

    Incidences of age discrimination in firing are much clearer to see [than hiring discrimination], and have risen along with the recession. The Equal Employment Opportunity Commission says age discrimination cases have jumped 17 percent since the start of the recession, and climbed 30 percent between 2007 and 2008. But virtually all of those cases involve layoffs, rather than the lack of job offers.

    Still, evidence of age bias in hiring is accumulating in academic research and anecdotal reports to the EEOC, Commission on Civil Rights and AARP. In one famed 2005 study, a Texas A&M economist sent out 4,000 job applications for entry-level positions. (The resumes were only women’s.) Older workers were 40 percent less likely to receive a response back. And of the letters sent to Congress last week, a vast majority mentioned age, many coming from older workers who had applied for hundreds of positions, to no avail.

    Because a higher proportion of the older unemployed drop out of the workforce, you'd actually expect unemployment duration to be lower among older workers. The fact that they're much more likely to be stuck in long-term unemployment is strong evidence that something seriously worrying is going on here.




    Employment - Work - Unemployment - Workplace Discrimination - Business

    • Original article
    • Login or register to post comments

    Related

    • How Technology Has Changed Economies and Demand for Degree Programs

      College tuition is often the single-most expensive burden American families have to shoulder. In the Cara Community tradition of providing readers with timely advice and financial planning tips, this article -- written by education policy expert Sophia Foster -- takes a hard look at what rising college costs mean for students and families, and offers a number of ways to make the investment produce returns in our still-dragging economy.

    • Less firing can make for better hiring

      I UNDERSTAND what Ed Lazear is saying here, but the point seems somewhat overstated:Why don't American workers feel that the labor market is on the mend? After all, the May 6 jobs report could suggest that the labor market is improving. Nonfarm employment rose by 244,000 and employment growth over the last three months is averaging over 200,000 per month. With unemployment at 9%, employment is still down many millions from where it should be, but up from its recession lows...

    • Older workers make their mark

      "You spent all the money - now you're taking our jobs." That is probably not how the Office for National Statistics would like younger workers to react to a press release they put out today, highlighting the rise in the number of over-65s who are still in work. But it's the conclusion that some unemployed school-leavers might draw.

    • 52% of Unemployed No Longer Receive Benefits; Average Duration of Unemployment is 40 Weeks

      Yahoo!Finance reports Most of the unemployed no longer receive benefitsEarly last year, 75 percent were receiving checks. The figure is now 48 percent -- a shift that points to a growing crisis of long-term unemployment. Nearly one-third of America's 14 million unemployed have had no job for a year or more.

    • North Dakota: America's "Economic Miracle State"

      The Philadelphia Federal Reserve recently released June

    • USA Added 290,000 Jobs In April

      The stock market showed again yesterday how non-efficient it can be at times. Several stocks fell to pennies a share for awhile before returning to tens of a dollars a share. While the markets continue to react violently, the economy appears to be gaining more strength.

    • USA Added 162,000 Jobs in March

      Nonfarm payroll employment increased by 162,000 in March, and the unemployment rate held at 9.7%, based on U.S. Bureau of Labor Statistics surveys. Hiring for the census added 48,000 jobs in March, a large temporary increase, but less than expected amount, for the month. The change in total nonfarm payroll employment for January was revised from -26,000 to +14,000, and the change for February was revised from -36,000 to -14,000 together this results in an addition of 90,000 jobs.

    • Unemployment Falls in 40 U.S. States, Rises in 3

      (WASHINGTON) — Solid hiring helped lower unemployment rates in 40 U.S. states last month, the most since November. The declines show the job market is improving throughout most of the country. The Labor Department said Friday that unemployment rates increased in only three states: Louisiana, Tennessee and North Dakota. Rates were unchanged in seven states. California, New York and South Carolina all reported the largest unemployment rate declines in April. Each state’s rate fell by 0.4 percentage points. (MORE:  U.S.

    • Unemployment Falls in 40 U.S. States, Rises in 3

      (WASHINGTON) — Solid hiring helped lower unemployment rates in 40 U.S. states last month, the most since November. The declines show the job market is improving throughout most of the country. The Labor Department said Friday that unemployment rates increased in only three states: Louisiana, Tennessee and North Dakota. Rates were unchanged in seven states. California, New York and South Carolina all reported the largest unemployment rate declines in April. Each state’s rate fell by 0.4 percentage points. (MORE:  U.S.

    • Unemployment Rate Reached 10.2%

      The unemployment rate rose from 9.8 to 10.2% in October, and nonfarm payroll employment continued to decline (down another 190,000 jobs), the U.S. Bureau of Labor Statistics reported today. The largest job losses over the month were in construction, manufacturing, and retail trade.

    Latest

    The Two Big Stories That Punched Markets In The Gut This Week
    The Two Big Stories That Punched Markets In The...
    Household spending helps Germany avoid recession
    Household spending helps Germany avoid recession

    User login

    • Create new account
    • Request new password
    • Click on the icon to sign in with your social network login or enter your Bullfax.com login

    Our Blog

    • Tata Steel, ECB, China’s car market and European Corporate Tax in Our News for Today 05/24/2013
    • Pandora: the charm might fade away
    • Japanese Market, Indian Rupee, China’s Stocks and Oil Prices in Our Daily Round-Up for 05/23/2013

    Markets Map

    Markets Map

    Follow Us

    Follow Us on Facebook, Twitter, Google Plus and RSS LinkedIn Facebook Twitter Google Plus RSS
    S&P 500: 1650.51 -0.29% FTSE: 6686.36 -0.16% Nikk.: 14612.45 0.88% DAX: 8370.71 0.22% HSI: 22618.67 -0.23% FX: EUR/GBP: 1.1644 USD/EUR: 1.2968 JPY/USD: 101.655 Commodities: Gold: 1389.10

    Bullfax.com - Market News & Analysis 2008-2011
    Contact Us | About Us | Terms & Conditions

    Follow Us on Facebook, Twitter, Google Plus and RSS LinkedIn Facebook Twitter Google Plus RSS .

    Secondary menu

    • Latest News
    • Top Rated
    • Most Popular
    • Archive
    • Discussions