Today is: Monday, May 11, 2020 | Our next publication day: Wednesday, May 13, 2020
Why COVID-19’s Impact on the Job Market
Is Far Worse for Older Workers
The extraordinary hit to the economy will be deeper and take longer to bounce back
by Kerry Hannon at marketwatch.com
Stunning, staggering, mind-numbing, call it what you will, the COVID-19 pandemic’s crushing impact on the job market is inescapable.
Over 30 million Americans have now filed for unemployment benefits, according to the Labor Department. Not surprisingly, the unemployment rate for workers age 55 and older is climbing. (The Nifty50s published a news release singling out the effects on older workers. – ed)
For Workers Over 50,
a Job Without Benefits Spells Long-Term Trouble
By Tammy La Gorce at nytimes.com
A study shows that three out of four U.S. workers ages 50 to 62 didn’t have an employer-provided retirement plan and health insurance — which will be a big blow to their income later.
When the retirement expert Alicia H. Munnell finished gathering data for a study on American workers ages 50 to 62 in jobs without benefits, she was stunned.
“When I looked at the results I thought, ‘This can’t be right.’”
Forget Ageism, Older Workers Now Have to Survive the Coronavirus Economy
What happens to your job prospects when the governor tells you to stay home?
by Mitchell Schnurman at dallasnews.com
As Texas begins to reopen for business, Gov. Greg Abbott has “special guidance” for people who are 65 and older, and it’s written in all caps in a state report released last week: “STAY HOME IF YOU CAN.”
In Colorado, which is also reopening gradually, the governor had a similar warning…
The White House says much the same in its plan to open America: “All vulnerable individuals should continue to shelter in place.”
The No. 1 Mistake Job Seekers Are Making
During Covid-19, According to Recruiters
by Liv McConnell at theladders.com
It’s a fraught time to be job searching. As of mid-April, the number of Americans who’ve lost their jobs as a result of the pandemic had already reached a staggering 22 million, bringing the total unemployment rate in the U.S. to nearly 18 percent. It’s a rate of joblessness not seen since the Great Depression. And although there’s still hope that the government’s stimulus bill will help us regain some of this lost ground, for a lot of folks, there’s little expectation of being hired again anytime soon.
Job prospects may seem bleak, but there are still a lot of good reasons to continue job searching right now.
Unemployment Among Older Workers Nearly Triples
Pass it Along
If you attend networking events and go to jobs clubs, you’ve been meeting other job seekers just like you. Mention the Nifty50s to them and encourage them to visit as well. You’ll be helping them and you’ll make an appreciative friend for yourself.
These are the times that try men’s (and women’s) souls
A friend confided recently that the worst part of the lockdown was that you couldn’t go anywhere, the worst part was that there was no place to go!
Your job search may seem that way right now. Is anyone hiring now? If so, who? And how can you get in on the hunt? All good questions.
If you’ve been following our postings on this, you should know that – no matter how bleak things may appear – there are companies that are hiring. Or, the hiring process is continuing in anticipation of adding staff as soon as they get the go ahead.
Simply put: the bad news is that finding a job is tough. And, if you’re over the age of 50, it’s especially tough. Tougher than usual.
The good news is – and, yes, there is good news – that you’re the best person to do it. If you do all the fundamentals correctly – from your resume, to personal branding, to (virtual) networking, to video interviewing, to maintaining appropriate contacts – not only can you get a job, but you can get the job want, the job that’s right for you and not just any job that you’re willing to settle for.
There are jobs. There are employers who want, need and either are or will be willing to hire qualified individuals. Those situations and opportunities do exist.
Your biggest job right now – and this may be the most difficult part – is to not lose confidence in yourself, your abilities and your belief that there is something out there for you. You need to stay vigilant and be ready to pounce when that those opportunities appear.