In today's New York Times, the concern of baby boomer's long term unemployment during the recession is recognized. Although many unemployed professionals over 45 looking for jobs have more experience than younger applicants, according to the Bureau of Labor Statistics, unemployed people over the age of 45 were out of work for an average of 22.2 weeks while younger unemployed average 16.2 weeks out of work.
Even when jobs are attained, there is usually a steep drop in pay in contrast to younger employees.
However, there is some advantage for older workers. Government statistics show that workers over 45 experience a smaller rate of unemployment.
Being a college student during the current U.S. recession, it's hard not to wonder if there will be any employment opportunities after graduation. After all the money spent for a college degree and sleepless nights to get an A, it's hard to grasp the possibility that there might not be a reward for all the effort. It is good to hear that younger workers are unemployed for a shorter amount of time but, unfortunately, unemployment is still a huge issue for all ages regardless of your perspective.
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