Age Before Beauty

More

The older you are, the harder it is to find a new job if you're laid off.  Older workers who are displaced often end up going on disability, taking early retirement, or starting "consulting" businesses because they find the salaried job market so unfriendly--after 55, labor market participation starts declining rapidly.

This is often thought of as pure age discrimination, but it's more complicated than that.  Blue collar workers at 60 may not be able to physically keep up with their old jobs.  They don't slot well into union shops that are designed to hoover up young workers and keep them for life.  And its harder for them to work for minimum wage, because they have obligations.

This is even more true of white collar workers.  Especially as they move up the management tree, older workers get a lot more expensive.  This is in part because we've cut a sort of society-wide bargain in which people in most jobs are paid more as they age to offset rising expenses.   But also,  older workers have more skills.

In general, more skills is a good thing.  But in an increasingly specialized society, those skills are increasingly specific,.  The more skills you have, the fewer jobs there are that match them.

The New York Times chronicles the unbelievably extensive process of finding a baby-boomer executive a new job in the current recession.  That's a story there will be a lot of in the next few months.  Expensive older executives are often first fired, last hired.

Jump to comments
Presented by

Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

Get Today's Top Stories in Your Inbox (preview)

Why Do People Love Times Square?

A filmmaker asks New Yorkers and tourists about the allure of Broadway's iconic plaza


Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Why Do People Love Times Square?

A filmmaker asks New Yorkers and tourists about the allure of Broadway's iconic plaza

Video

A Time-Lapse of Alaska's Northern Lights

The beauty of aurora borealis, as seen from America's last frontier

Video

What Do You Wish You Learned in College?

Ivy League academics reveal their undergrad regrets

Video

Famous Movies, Reimagined

From Apocalypse Now to The Lord of the Rings, this clever video puts a new spin on Hollywood's greatest hits.

Video

What Is a City?

Cities are like nothing else on Earth.

Writers

Up
Down

More in Business

Just In