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The older generation came of age at a time when pensions were still at least a conceivable possibility.
Not really - that was during the older generation's parent's generation.
At any rate, pensions are a bad thing for several reasons.
1) Most pensions discourage economic mobility.
2) The notion of a defined benefit relies upon the longevity of the life of the employer. Employers have life expectancies just as people do. Employers are born, achieve adolescence, age, and die. Thus the entire concept of a pension is that the employer is immortal, and that just isn't the case. Government entities excluded, of course.
3) Employees should plan for and take actions for their own golden years via a defined contribution plan that is theirs.
4) The concept of transfer-of-risk from employee to employer is silly. Employers are not skilled in risk assessment unless they are insurance companies. It gives employees a false sense of security.
4) The concept of transfer-of-risk from employee to employer is silly. Employers are not skilled in risk assessment unless they are insurance companies. It gives employees a false sense of security.
It's somewhat related. Older people are more likely to have houses or pre-existing money. They don't need the money from the job to actually survive.
I've been noticing median age of hiring pools getting quite a bit older.
I don't want to be one of "those old guys," but...
I'm 36. My girlfriend's son, daughter, daughter's boyfriend are all 18-23. They all have, to me, a shocking lack of critical thinking skills. The daughter's boyfriend is dumb as a box of rocks.
When I talk to most people that age, most of them don't seem to be able to focus for very long, nor carry a deeper conversation. They might know the answer to something, but it feels more like a rote memorization rather than actually working through a problem.
Are there exceptions? Sure there are, but I blame a lot of this on having a cell phone in hand from an early age. Technology should be a tool to augment your own understanding and thinking skills, not working as a replacement for it.
I think that's a big reason why older workers are in demand.
Not hiring over 55, just existing labor force is aging
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That's likely because people are living longer and working longer.
If you look at the 2nd chart below, that groups' participation rate in the labor force is 8.9% compared to 81.4% for the 21-54 age group. They are by no means the largest segment of the working population in the U.S., not even close.
just an personal observation, I'm seeing a lot of seniors working in fast food jobs. Flexible schedules, $16-18 an hour to start and it gets them out of the house.
I don't want to be one of "those old guys," but...
I'm 36. My girlfriend's son, daughter, daughter's boyfriend are all 18-23. They all have, to me, a shocking lack of critical thinking skills. The daughter's boyfriend is dumb as a box of rocks.
When I talk to most people that age, most of them don't seem to be able to focus for very long, nor carry a deeper conversation. They might know the answer to something, but it feels more like a rote memorization rather than actually working through a problem.
Are there exceptions? Sure there are, but I blame a lot of this on having a cell phone in hand from an early age. Technology should be a tool to augment your own understanding and thinking skills, not working as a replacement for it.
I think that's a big reason why older workers are in demand.
And what would your critical thinking 36 year old self think of talking to your old self at age 18-23?
Anecdotal stories are nice but is there any statistical data to show that older workers are being hired at greater rates recently?
Or that older workers have stronger work ethic…
Or…
Nah we’ll just have to take mr. Confortis word for it.
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