Or, Too Much Time and Too Little Work!

For some people, especially many highly-paid professionals over 50, you may quickly find you have alot more time on your hands (and alot less work!) than you want or need.

According to this cover article in Fortune, many people over 50 who were highly compensated suddenly find themselves

unemployed. The article goes on to note that older job seekers have a harder time finding work:

55- to 64-year-old displaced workers were less likely to find new jobs than 25- to 54-year-olds (57% vs. 69%), and more likely to drop out of the workforce altogether (20% vs. 11%).

If they do find work, it is often at much less pay.

In my opinion, this trend (of 50 and unemployed) is likely to continue. More use of automation, greater off-shoring of jobs, among other factors, is likely to result in companies reducing their workforce of highly paid people. Why pay so much when you can off-shore for alot less? Or, simply hire someone for less pay to do two jobs and replace them when they burn out?

Of course, the implication is that alot of people will be retiring much earlier than they expected, leading to financial problems down the road. Scary thoughts for a Monday, eh?

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