According to American Demographics students and retired people are beginning to compete for lower income jobs. Besides the usual summer jobs, evidently kids these days are needing jobs to supplement family income because their parents are unemployed. But seniors have their needs too.
…financial pressures also plaguing seniors, as well. A recent poll by The Gallup Organization concluded that retirement tops the list of financial concerns for American families. The poll, which surveyed 1,014 respondents, revealed that 52 percent are either “very” or “moderately” worried about retirement. Already, nearly one-third, (32 percent) of those 65 and older are concerned about having enough money for retirement. What’s more, concern jumps dramatically to 56 percent of those between the ages of 50 and 65.
The concerns are well founded. According to the BLS, the unemployment rate for Americans 50 years old and older has edged up from 2.7 percent in 1999 to 4.0 percent in 2003. To ease their financial burdens, seniors are willing to take jobs once intended for students, making the job market even more competitive for the younger cohort. “There are people in their 50’s and 60’s who, as a way of survival, are willing to take those low paying jobs,” Losyk says.
He adds that convenience store managers, for example, are seeing more seniors applying for jobs than ever before because there aren’t enough higher paying jobs. These store managers, he adds, are often willing to accept seniors with open arms, because of their experience and dependability, plus, mangers don’t have to worry as much about theft, tardiness and absenteeism, Losyk says. “People who don’t want to work are not dependable. When you get older employees you don’t have that problem as much, and when given the choice managers will hire older people.”
Retirement is out there one the horizon for me. I’m sure looking forward to getting a supplemental job at some place like, say, Wendy’s and working next to a 16-year old. Hmm. I wonder how I’ll look in a little paper hat and a striped apron?