A new study showed that during the pandemic “many older workers did not leave their jobs voluntarily but got pushed out of the labor force.”
The numbers paint a bleak picture for the experienced workers. In March 2020, there were 35 million older workers who were gainfully employed. Only one month later, around 3.8 million workers ages 55 to 74, lost their jobs.
It would seem that a person who was pushed into retirement now has a good chance of finding a new role, as there are more than 11 million jobs open, a record-setting high. However, it's not so simple. She added, “It's not really up to the worker to decide whether or not they're going to come back. We're not seeing evidence to support that employers want these older workers back, and we looked. There's a big demand for younger workers, not so much for older workers.”If you check out the career sites of major corporations, you’ll be greeted with fresh, shiny and happy faces of 23 to 33-year-olds.
Companies relocate jobs to lower-cost states and locations outside of the U.S., in another effort to save money. Businesses can pay considerably less money to the workers in lower-cost locations, and demand more of them. The older, more costly employees are not invited to move, as they possess too much experience and are asking for a salary that is greater than the band allows.
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