The Worlds Aging Work-Force


Medicare & Social Security Deficits Chart

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Employment is an area where age discrimination is a huge problem, despite recent legislation in the UK tackling the issue. The majority of those interviewed said they would find it easier to accept a suitably qualified 30-year-old as a boss than a 70-year-old with exactly the same qualifications. People over 50 felt extremely concerned that employers would always prefer to hire a person in their 20s rather than an older person. In the UK 49.7 per cent of those interviewed cited this as a problem.

Whilst in the United States the following concerns:

•Men leave. Working-age men have been dropping out of the labor force for decades. The disappearance quickened when construction and manufacturing jobs vanished in the recession from December 2007 through June 2009. Until the 1960s, more than 80% of men worked.

•Women stay. The trend of women getting jobs offset the loss of working men until the late 1990s. The share of women holding jobs rose from 36% in 1960 to 57% in 1995, then leveled off. The rate was 56% in 2010.

The aging of 77 million Baby Boomers born from 1946 through 1964 from children to workers to retirees is changing the relationship between workers and dependents.Retirees generally are more costly to support than children. The average public school education costs $10,000 a year. The average retiree gets $25,000 a year in benefits — $13,000 in Social Security and Medicare benefits of $12,000.

In all, taxpayers will spend about $125,000 educating a child and $500,000 caring for a senior, in today’s dollars at current life expectancies, according to federal education and retirement program data. The costs are paid differently, too. State and local governments, through sales and property taxes, pay most education expenses. The federal government, though income taxes, pays most retiree costs.

Nevada, which has seen the participation rate decline for Nevada’s labor force as a whole from 2000 to 2010, it has grown for the state’s oldest workers. Specifically, in reporting the February 2011 unemployment statistics, the state’s Department of Employment. Training, and Rehabilitation reported that, during those ten years, the labor force participation rate in Nevada declined from 70% to 65.6%, while the participation rate for workers 65 and older increased from 12.8% to 20.6%.

The growth in the participation rate of older workers is likely caused by two factors: (1) a social change, marking the ability of older workers to work later into life, and (2) recessionary wealth destruction is forcing older workers to delay retirement due to financial reasons.

As we continue to analyze the facts that the population is living longer, the current day solutions are not in-line with the truth about what to do, and how! The fact is; we are on a road to becoming a “Failed State within a failing World Eco System” Hotdogfish

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