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NY Times: More Americans 65 Plus Seek Employment
Blanche Africa Reilly Dark, our senior contributor, who is our senior contributor has a report:
According to a recent report in the New York Times Business section,
“…there are more Americans 65 and older in the job market today than at any time in history, 6.6 million, compared with 4.1 million in 2001.”
That’s about 2 and a half million more than eight years ago. Hmmmm, I bet there’s a correlation between the fact President Dumbya was in office implementing new economic policies and enforcing previously established economic policies during the time the numbers of seniors remaining on the job was growing. You know the policies made by other administrations including, the administrations of his father George Herbert Walker Bush, Ronald Reagan and Bill Clinton. Policies and new legislation that chipped away and successfully removed the safeguards to protect our economy. Safeguards, neo-cons call them restrictions that had been in place for as long as I am old.
Many of those older workers were looking forward to retirement. Now because the economy has underperformed and their 401Ks have decreased in value older parents, other relatives, neighbors and friends are still doing as the children say their “grind”.
At least those folks have gigs. The New York Times reports there are about 500 thousand older workers who wish to have jobs, and like everyone else who wants a job, they can not find work.
It’s interesting to note a goodly number of these older folks have taken on more debt than previous generations of older Americans while their job protections deteriorated.
“…the level of indebtedness among older Americans has risen faster than in any other age group, partly because so many obtained second mortgages to take money out of their homes.”
I guess they got all caught up in the hype; they believe the fantasy that housing prices would continue to skyrocket instead they have plummeted dramatically.
It will be interesting to see more fast food restaurant employees bonding with their grandchildren as they ask , “Would you like fries with that?”
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