We are witnessing a massive shift in the economy in a very short period of time. The dislocations for people, particularly people of limited means, have been and will continue to be profound. (From The Washington Examiner) Forty-two percent of workers experiencing recent layoffs will suffer permanent job losses, according to a paper circulated by the National Bureau of Economic Research.
# – # – # – # – #
As the Big Fat Old Turkey, I’ve always warned 50+ jobseekers that their BIGGEST fear would NEVER being able to find another job. AT ALL! Let alone on comparable to the one that they lost.
I’d be willing to bet that the impact on the 50+ unemployed will be much worse that anyone expects.
Hope I’m wrong, BUT I don’t think so.