If you have lost your job, are repeatedly being turned down for new jobs, or are repeatedly laid off from new job, you may find this article interesting. Read on!
Some folks like to state with confidence that age is relative. Age is just a number. You are as young as you feel. Really? My bet is that those folks, no matter their age: 1) are in good physical health; 2) are still employed in a job that affords them a comfortable lifestyle OR are being supported by a spouse or other OR are living in comfortable retirement; and 3) have not endured a string of significant traumas in their life for which they have not had the resources to cope (i.e., fired/laid off from career, war veteran, victim of violent crime or domestic abuse, death of spouse or child, etc.). These fortunate folks are on the sunny side of life and anticipate a comfortable future. They are happily planning their next big vacation, buying the newest techno gadget at Best Buy, and entertaining friends with lovely dinners complete with imported wines. Sounds like the 1960’s, doesn’t it? That is when America was experiencing the biggest boom of its existence, careers for male breadwinners were launched and retired from with few job changes or layoffs, and moms were able to stay at home and raise the kids and did not need to juggle career/marriage/children/the house in a constant fog of fatigue. Divorce was a measure of last resort. Companies wooed employees with regular promotions and pay increases, low or no cost health/dental/other insurance, and guaranteed pensions.
Flash to 2011. The adults who married and brought about the Baby Boom during the 1950’s following WWII, have now retired for the most part. They are living that comfortable retirement for which they worked hard and deserve. They are either still covered by former employer health benefits, Medicare, or both. Their income comes from company pensions, Social Security, savings, and more. Most likely they have paid off their home mortgage, have sold the old family home and bought a smaller home outright, or are otherwise secure in a dwelling. If they do suffer a physical illness or accident, their health insurance will cover everything from gallbladder removal to cancer treatments. Prescriptions are also covered by insurance or Medicare and are affordable. Their kids are now adults and have children of their own. So how are they doing in 2011?
Not as well. Many of them, men and women, although hard-working and well-educated, have been laid off from their employment. They cannot find new employment in their fields despite months, and sometimes years, of desperately trying. They have run out of unemployment insurance and COBRA coverage, have no income or health benefits of any kind, and are losing their homes to foreclosure and placing their belongings up for sale on Craigslist. If they are able to remain in their homes, they are finding that the mortgages are double the present value of their homes. They have no retirement funds in waiting because their former companies have closed, and nasty CEO’s have stolen or ‘lost’ the company retirement accounts, or worse. Any 401(k) or IRA funds have already been used as a measure of last resort to try to keep the family home from foreclosure, the kids in food and clothing, and the electricity and heat running. They are being told that Social Security will probably go broke well before they are even eligible to receive it. Medicare will either soon be extinguished or the benefits will be drastically cut due to this country’s debt problem. In its April 2011 statement, S&P indicated that “if the fiscal crisis in the U.S. remains unresolved, within two years U.S. Treasuries will be downgraded. The statement acknowledges that the American political system is totally dysfunctional, and appears unable to craft a viable plan to restore fiscal sanity to America’s out of control federal government budget. Reading between the lines, and adding my own perspective (see my report “Global Economic Forecast 2010-2015: Recession Into Depression”) it seems increasingly obvious that save for a miracle, the United States is headed for a fiscal train wreck of calamitous proportion, probably sooner rather than later.” (http://www.globaleconomiccrisis.com/blog/archives/1315). Baby Boomer parents are losing faith in the American Dream for themselves and for their children. Food, gas, and other essentials are rapidly rising in cost. Some states, counties, and cities are declaring bankruptcy or on the verge of doing so. The ridiculously high costs of sending kids off to college is either restricting families from doing so or resulting in heavy borrowing that they cannot really afford. Borrowing is tightening up and this may not even be an option anymore. It is becoming clear to Americans that we are not in a temporary recession; we are in a complete rewrite of the American economy.
A few other statistics from a recent study by Physorg.com (http://www.physorg.com/news156075470.html):
- More than 70% of respondents admit to having to make significant spending changes
- More than 80% of respondents believe that they will not be able to retire – ever
- 43% of respondents admit to having little or no savings to call upon in the face of job loss
For those who still have a job, 70% say that stress at work has significantly increased due to increasing productivity demands from management; fear of layoff; requirement to cut costs at work despite expectations to perform more; perception of co-workers practicing backstabbing and politicking as a means to retain employment in the event of a layoff. Millions of families are currently undergoing severe strains that may trigger higher divorce and suicide rates and emotional turmoil.
Do you still believe that Age Is Relative? 40-60 year olds, who just decades ago would have had little reason to fear being laid off, their company going under, their country sliding into a depression, get up every day and send out job applications that will go nowhere. If, as the saying goes, you are as old as you feel – well, they must be about 101. Even if their actual age is 40-55, that age is VERY relative to current economic conditions. Why? During the last 2 decades, as these folks were working and taking on mortgages, beginning their families and saving for the future, American government and corporations were changing the rules of the game. Oh, and those rules were designed, in the long run, to ruin the American economy and American families.
The 1990’s saw the development of huge U.S. trade deficits; the reduction of taxes which, in part, led to a 75% increase in the national debt; and increasing free trade and globalization causing U.S. companies to shift their manufacturing operations overseas. This was followed in the 2000’s by the collapse of the housing market, financial crimes leading to the collapse of giant companies and the American stock market; and banking activities leading to mergers and/or closures. In 2008, the stock market plunged 40%, wiping out the college fund and retirement savings of many Americans. How old do you feel now?
And recently, the very workers who helped to fuel the American economy into these crises are finding that their age is VERY relative when it comes to finding new employment. So is their credit rating, their savings rate, their debt load, their presence or lack thereof on social media, their or their dependent’s historical use of medical/dental/mental health services and prescription medications. Today’s employers are as likely to view a candidates employability based on these factors as on the candidates job application. Today’s employers are ordering and reviewing credit reports, background checks, criminal records, and intensive searches of applicant use of the internet and social media. In fact, job candidates are being turned down for employment based on information that companies can easily find on Google, Twitter, Facebook, personal blogs and websites and more. A full 45% of employers hire private firms to conduct these searches. According to HR at Microsoft, over 70% of employers have rejected an otherwise excellent candidate for employment based soley on their internet presence. Some factors include:
- It is found that they promote activities that the company frowns upon which can be as innocuous as selling Avon or Amway or rallying for the legalization of pot
- It is found that they have lost or are close to losing their home to foreclosure
- It is found that their credit rating has gone down due to factors beyond their control
- It is found that their savings rate is low, or nill, while their personal debt load is significant
- It is found that they or their friends on Facebook, Twitter, etc., like to party hearty and use drugs and alcohol
- It is found that their social media profiles indicate they are difficult personalities or have significant issues interacting with others
- It is found that they or their spouse or children have historically used more medical/dental/mental health services or a significant amount of prescribed medications due to a chronic health problem or other need
- It is found that they trash or otherwise bad-talk former employers and co-workers
- It is found that what they say on their social media does not match what they have put on their job applications, i.e. social media: I left that position because management was stupid v. job application: I left that position for promotion potential
While it is illegal to deny employment based on the above factors, it happens all the time. HR phones the candidate to say, ‘your skills are not up to date’, ‘we feel that you are not a good fit’, or they simply give no reason at all for passing you over.
In the category of ‘most stressful events of your life’, losing your career is up there at the top. You are undergoing one of the most trying times of your life, especially if the loss of your career is negatively affecting other aspects of your life. Maybe this is a good time to stop, consider a few things, make a few changes, accept some inevitables, make some new connections, and move forward in a different direction?
If you are age 55 or over, try volunteering. Organizations often provide new friendships which can bloom into employment opportunities. Try doing job searches specifically for the ’50 and older’ crowd. The vicious competition in your former field of employment may be too strong for you to win. Maybe it is time to think of your ‘maturity’ as a time to try something new. Relax a bit and look at alternatives to your former career. Try a part-time job. Many part-time jobs offer full medical and other benefits, even retirement plans. Take an exercise class, lose some weight, and maybe you can drop some of those expensive meds. Fix up and sell or rent the house; buy something outright that is more in line with your reduced budget. Start a garden. Buy a pet and enjoy the friendship. Decide to get up every morning and have your coffee at a local coffee shop where you are bound to meet and befriend others who are in your same situation. If you don’t have a social media presence, create one – a positive one. If you have an other than stellar social media presence, work on cleaning it up. Check your credit profile and clean that up as well. Many volunteer organizations do background checks and will provide you with a free copy for the asking – check it for errors or items that you need to improve. Decide to finally sort those photo albums, beer caps, or whatever. Host this yearss family get-together at your house to avoid travel costs and ask that everyone donate to cover the cost of food, etc. Buy a local entertainment coupon book and get out and see the tourist-y sights in your area.
Most of all try to remember that you are not alone. America is undergoing extreme changes that no one seems able to control. The one thing that you can control is – you. Take the reins! Take charge of your life as it exists right now. You cannot change the loss that you have just encountered. But look around at what you still have and see that it is significant.
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