Unemployed boomers -- "dead men walking" says CNBC

[Zoocat]

So I'm watching the On the Money show last night on CNBC with carmen and some schmoo co-anchor says that the unemployed boomers he has seen look like "dead men walking." His advice is for them to drink some coffee before the interview, lose 20 pounds and convince the 20-something HR person that they are up-to-date, energetic, and can keep up with said 20-something co-workers.

Not only are laid off people suffering the huge losses in their retirement fund but also the loss of employment. And this jerk says they should go on a diet and act like they can be 25 again.

Is there no respect for maturity? No appreciation for experience?
Another person on the panel said, "Well, if you were a 20-something HR person would you want to hire your parent?"

They also said that boomers need to realize that they are not on top anymore. I guess that means you need to suck up to your 20-something interviewer. Please. That doesn't work anyway. I tried it.

The worthless SOB is Tyler Mathisen. He comes on at about 7:10. He is pond scum.

Rob Rosner is the one who said boomers were "dead men walking" at about 9:19 on the video.

They also said that boomers should downsize their resume. Hide their achievements. What a world!!!

Here's an video of the show. http://www.cnbc.com/id/15840232?video=1053874954&play=1



Ok. Thanks for reading my rant. I had to let it out.

 

[Rambler]

Sorry Oldbabe but that is pretty much the reality. This is essentially my biggest reason for wanting to be prepared to FIRE...I am 90% sure that I would not be able to get employment (too skilled, too high of a pay history, over-qualified....read all of those 'just plain old'). Doesn't matter if I'm willing to do a lesser skilled and/or lower paid job. In today's world economy I don't know if I would retire as early as I want, just so I could keep a foot in the game, but if I ever get shoved, I feel I will probably be done/FIREd. I'm FI at a modest level now but want a little more sweetener (not to mention a little economic stability in the world) before I RE.

R

 

[ziggy29]

I am 90% sure that I would not be able to get employment (too skilled, too high of a pay history, over-qualified....read all of those 'just plain old'). Doesn't matter if I'm willing to do a lesser skilled and/or lower paid job.

Sadly, this is largely true. I know darned well that if I lost my current job, I couldn't get another one for half of what I earn now -- one-third, maybe.

I know that. I accept that. But hiring managers and HR types won't. I couldn't possibly be happy with that pay, and I'd surely leave as soon as other opportunities came up. At least that's what they'll rationalize.

And I feel like that's going to get me rejected immediately in the "new economy."

Hence the feeling that I need about 62,000 years of income in my emergency fund. I suppose my "nuclear option" is going back to school and becoming a math/computer teacher. Though maybe even THAT occupation -- typically in short supply -- might become a crowded field if this keeps up.

 

[ProspectiveBum]

I laughed right out loud at the "Just For Men" hair-coloring commercial that shows a Dad with a college-bound son using the product to "Get Back in the Game" to pay for his son's college tuition. It seemed so cheesy to me, but I guess there's similar sentiment out there.

 

[Zoocat]

Rambler, I thought that someone would reply that "is pretty much the reality." I know it's the reality. My rant is that it's WRONG. You don't kick someone when they're down. You respect your elders. A Darwinian world may be the reality in nature. But we are human. We can make a choice to be kind. That doesn't mean you give priority to a boomer over a 20 something. But you treat them with respect and that means that you give them credit for their experience and you don't expect them to downsize their resume.

Ziggy, there are school districts that will hire you outright without a certificate. I know that New Orleans is recruiting people like you at this moment. You could also substitute immediately where you live right now.

 

[Free To Canoe]

There is something here that doesn't add up to the "invisible hand".
If older folks are more productive, then they should be sought after in proportion to their marketplace value. I know what you are all saying about age and fortune 500.
Probably has something to do with future potential of an oldster 10 years out vs a youngster. If the small business hasn't folded in 10 years it will be defying the odds. If an ambitious youngster stays in one place for 10 years, that too is defying the odds. The oldsters have many advantages. They just need better marketing.

They can kiss my a## with their "dead man walking" stuff. Boomers have always had to compete with each other for scarce resources. We will continue to compete.

Free

 

[Ed_The_Gypsy]

Ziggy, there are school districts that will hire you outright without a certificate. I know that New Orleans is recruiting people like you at this moment. You could also substitute immediately where you live right now.

Teach in a N.O. School? Life is too short!

 

[crazy connie]

What is totally amazing is that the Mega Corp leaders are not clear with the doe eyed HR babies. Get the tried and true talent that is willing to work for a more modest wage. Many have more training, skills and real experience as well as a work ethic. They are excellent value if they have their own (other mega-corp insurance) to boot! They show up on time, know where, when and why to take shortcuts and deliver superior products and customer service. Also, you never have to do a grooming/attire check in advance of client meetings.

 

[RAE]

So I'm watching the On the Money show last night on CNBC with carmen and some schmoo co-anchor says that the unemployed boomers he has seen look like "dead men walking."

Another good reason not to ever turn on CNBC (as if I needed another reason).

 

[BunsGettingFirm]

Hence the feeling that I need about 62,000 years of income in my emergency fund. I suppose my "nuclear option" is going back to school and becoming a math/computer teacher. Though maybe even THAT occupation -- typically in short supply -- might become a crowded field if this keeps up.

The local public university just announced that they are laying off all adjunct professors.

 

[BunsGettingFirm]

They can kiss my a## with their "dead man walking" stuff. Boomers have always had to compete with each other for scarce resources. We will continue to compete.

Free

What a disappointment to hear that. I thought you guys all passed the doobie back the '60s. There goes another one of my idealistic views of the world. Idealistic view count = 0 now.

 

[samclem]

The HR folks (and the people in the office with the vacancy) have some valid concerns when an older/more experienced worker applies for a vacancy. The technology/info collaboration tools being used in many offices puts a high premium on not only knowing the present suite of applications/tools, but readily understanding and rapidly applying new ones. These talents are more prevalent in younger workers, so an older person has an uphill battle to show he/she is going to be able to do it. And, this is not something that is easy to discern in a quick interview.
Secondly, I've seen many folks with a lot of management/supervisory experience apply for jobs that are more hands-on work (writing, analyzing, etc). Frankly, it is very hard for some of these people to step back from the "chief" role and be an "indian" again, and even those who are motivated and willing to do the "scutt work" once more often just can't perform as well as they would like (again--often due to the technology changing).

Still, there are experienced, talented older workers out there who are lookign for jobs, and the businesses who hire them will be at a competitive advantage.

 

[Zoocat]

The local public university just announced that they are laying off all adjunct professors.

OMG! We, all of us, are truly in a desparate condition now! Anyone who has ever been an adjunct professor knows how universities use them as cheap labor to substitute for hiring and replacing FT faculty. Whole departments, such as English and foreign languages, could not exist without adjuncts! That a university could be in such poor financial straits to lay off adjuncts means that they will shortly go bankrupt and close their doors.

 

[Zoocat]

What a disappointment to hear that. I thought you guys all passed the doobie back the '60s. There goes another one of my idealistic views of the world. Idealistic view count = 0 now.

LOL!

 

[harley]

What a disappointment to hear that. I thought you guys all passed the doobie back the '60s. There goes another one of my idealistic views of the world. Idealistic view count = 0 now.

I believe he said we had to compete for scarce resources. We shared the abundant ones just fine.

 

[HFWR]

Ziggy, there are school districts that will hire you outright without a certificate. I know that New Orleans is recruiting people like you at this moment. You could also substitute immediately where you live right now.

Salary and benefits, but must supply own body armor...

Teach in a N.O. School? Life is too short!

Life would be short...

 

[jug]

Oh man, this looks bad, I may lose my position as the chief towel and sheet boy at the Chicken Ranch.

Gee and after I've made all these good friends, and the tips are good too.

Jug

 

[HFWR]

What a disappointment to hear that. I thought you guys all passed the doobie back the '60s. There goes another one of my idealistic views of the world. Idealistic view count = 0 now.

YouTube - Don't Bogart Me

 

[dex]

Not only are laid off people suffering the huge losses in their retirement fund but also the loss of employment. And this jerk says they should go on a diet and act like they can be 25 again.

The sad truth is that people hire people like themselves. It would take an unusual manager to hire someone much older than them with possibly more experience.

All the general prejudices found in the general public are found in the workplace.

 

[Rambler]

Rambler, I thought that someone would reply that "is pretty much the reality." I know it's the reality. My rant is that it's WRONG. You don't kick someone when they're down. You respect your elders. A Darwinian world may be the reality in nature. But we are human. We can make a choice to be kind. That doesn't mean you give priority to a boomer over a 20 something. But you treat them with respect and that means that you give them credit for their experience and you don't expect them to downsize their resume.

Ziggy, there are school districts that will hire you outright without a certificate. I know that New Orleans is recruiting people like you at this moment. You could also substitute immediately where you live right now.

Don't get me wrong...I agree with you. But, what is ideal and what is real are not always the same. So, I try to change what I can, understand what is real (that I have little or no power to change) and learn to adapt myself to fit into that situation. That means preparation...that's what I'm doing now.

R

 

[BunsGettingFirm]

Rambler, it's sad that hear that someone 47 is considered "too old". It's probably because you're running your own country operations. Most 47 year olds are just making VP, and the slower ones are just making director, so those guys probably can still do a horizontal move somewhere else.

Let me show you the flip side of story. I'm late 30s but look 28, so I can get all kinds of jobs, but they are jobs that would be great for a 28-year-old guys, but do I feel happy making salaries that's 40K-50k less than my peak earnings? Heck no.

 

[Midpack]

Rambler, I thought that someone would reply that "is pretty much the reality." I know it's the reality. My rant is that it's WRONG. You don't kick someone when they're down. You respect your elders. A Darwinian world may be the reality in nature. But we are human. We can make a choice to be kind. That doesn't mean you give priority to a boomer over a 20 something. But you treat them with respect and that means that you give them credit for their experience and you don't expect them to downsize their resume.

While the segment is unnecessarily harsh (probably deliberate to get your attention), it's not wrong IMO. I am 54, and I would most likely hire an energetic, younger employee as well. I have 2 young Engineers I hired in the past few years, and I have passed over many Engineers my age. Not because of their age, but because their skills are way out of date (pretty dumb in an interview to tell me you kinda/sorta know something about MS Office, but not so much the internet...). My 2 young Engineers are paid well, but less than the older Engineers wanted. What they lack in experience, they more than make up for in up to date skills and a willingness to change the status quo for the better. There are exceptions to be sure, but younger employees accept, even seek change as a rule, older employees want to stick with what they're comfortable with and make change difficult whether by outright resistance (usually simple 'fear of the unknown') or an inability to adapt (weak skills and/or a lack of confidence in learning something new) . You can't be competitive respecting experience whether they're down or not.

 

[ziggy29]

There are exceptions to be sure, but younger employees accept, even seek change as a rule, older employees want to stick with what they're comfortable with and make change difficult whether by outright resistance or an inability to adapt.

Fair enough, but this still means the "exceptions" are screwed. I'm 43 now, which is putting me on the cusp of being "old" in terms of a job search -- especially in the technology arena. I've always looked forward to learning new things, gaining new skills and all that.

I'm starting to realize why Social Security was so necessary to create. No one wants to hire the older folks in a terrible economy where there are dozens of qualified applicants for every job, so it was either create an old-age pension or let them starve and freeze on the street.

 

[unclemick]

1992. Age 49. Unemployed. After a while looking around - made the mental transititon to ER.

Oh yeah - the born again sha zam of become a cheap bastard helped.

That was a lot of fun.

heh heh heh -

 

[HFWR]

While the segment is unnecessarily harsh (probably deliberate to get your attention), it's not wrong IMO. I am 54, and I would most likely hire an energetic, younger employee as well. I have 2 young Engineers I hired in the past few years, and I have passed over many Engineers my age. Not because of their age, but because their skills are way out of date (pretty dumb in an interview to tell me you kinda/sorta know something about MS Office, but not so much the internet...). My 2 young Engineers are paid well, but less than the older Engineers wanted. What they lack in experience, they more than make up for in up to date skills and a willingness to change the status quo for the better. There are exceptions to be sure, but younger employees accept, even seek change as a rule, older employees want to stick with what they're comfortable with and make change difficult whether by outright resistance (usually simple 'fear of the unknown') or an inability to adapt (weak skills and/or a lack of confidence in learning something new) . You can't be competitive respecting experience whether they're down or not.

Conversely, one of the research scientists in our group is probably pushing 70 (yeah, he'll never "retire"). He's smart enough to help the grad students and PhD candidates find their way through the maze of technical papers, to focus their energies, and find the gotchas. Age doesn't necessarily come with wisdom, but it often does... Many of the young whippersnappers on Wall Street could've used a critical eye looking over their shoulders?