45+ & still unemployed? You’re not imagining it: Boomers out of work longer
With hints of economic recovery starting to surface even in that now infamous lagging indicator, the unemployment rate, it’s tempting to breathe a sigh of relief that the world of work will soon be back to its old normal. But that might be overly optimistic, especially for the 45+ crowd…
A look at jobs data from The Great Recession suggests — and client experiences corroborate — that there’s a new normal out there, and it reads like some sort of Bizarro Candid Camera episode. i.e. Don’t be surprised if sometime, somewhere, someplace when you least expect it, someone steps up to you and says, “Sorry, your job has gone the way of the dinosaur,” prompting an unplanned, possibly extended career transition with the potential to undo a lifetime of hard-won financial security.
Not pretty. But accepting this shift in the employment landscape is the first important step in making the career and financial choices that better prepare you for this “just in case” scenario. Check out this NY Times article to find out why that’s been even more true for baby boomers: Longer Unemployment for those 45 and Older. (Anybody remember when experience was a plus for job seekers?)
Fortunately, some of those who’ve been on the job search front lines during this recession are sharing what they’ve learned about how to survive — maybe even thrive — in this Bizarro World. Click here to listen to an excellent New Hampshire Public Radio segment featuring none other than Tammy Hildreth, guest blogger, co-founder of Network for Work (TM) professional networking group, and winner of our recent giveaway of The Money Book for Freelancers, Part-Timers, and the Self-Employed.
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