One thing we’ve been interested in, and posted various images about, here at Soc Images is the different ways people experience the current economic crisis. Obviously people will suffer more or less depending on their personal situations — if they had any savings, if they lose their jobs or not, if there are other wage-earners in the household, and so on. While we’re all affected by the recession at least indirectly, for some it’s a much more immediate personal problem than for others. And demographic factors outside our control, such as race/ethnicity, gender, and so on, play a large role in the distribution of the negative impacts (or, for some, the positive ones) of the recession.
Dmitriy T.M. sent in a story from the NYT that looks at the particular hardships faced by older workers. I’m interested in the graph on the left below, which shows historic jobless rates for those over age 55:
On the one hand, the unemployment rate for that group (7.3%) is certainly higher than at any point since the mid-’70s. On the other hand, the jobless rate for 55+ -year-old workers is lower than the overall unemployment rate right now, which is still hovering at about 9.6% (Bureau of Labor Statistics). It’s a case of the decontextualized graph: one that isn’t technically misleading, and that presents data in a straightforward manner, but that, without providing comparisons to other groups, makes it hard to know what to think about the data.
That’s not to discount the difficulties experienced by workers over age 55; it’s surely not comforting to know that the unemployment rate for your age group is below the national average if you, yourself, lose your job. And the graph on the right presents another aspect of joblessness: how long it lasts. When workers over 55 lose their jobs, it tends to take them quite a bit longer to find a new one. As the NYT article points out, with the overall higher rates of unemployment for all age groups, that gap becomes increasingly important: “because it will take years to absorb the giant pool of unemployed at the economy’s recent pace, many of these older people may simply age out of the labor force before their luck changes.” At the same time, the hits many retirement accounts have taken is pushing more people over age 65 to look for work, while others are forced into early retirement simply because they can’t find jobs.
More on race, age, gender, and the recession here.
Comments 11
Rueful Reader — September 20, 2010
I'm over 50, single, African American, a woman, over-qualified and unemployed (technically, extremely underemployed while working on a freelance basis).
So I guess I hit the jackpot.
I've been petrified for some time now that I may never again have a conventional job. I need one. I still have huge student debts from graduate school, and no savings. I've realized that I'll probably never be able to retire if things don't change radically, like Lotto radically, but this situation is impossible. Maybe my retirement plan will be suicide.
The worst was listening to the b.s. lectures of my state's Labor Department people a few years ago when I was receiving benefits after a temp job ended. They distributed sheets listing jobhunting sites that I knew from direct experience were worthless. I also became impatient with groups like the Five O'Clock Club -- an organization for jobhunters.
I knew the Five O'Clock Club was full of it when I started getting emails in which they were marketing their abilities as an OUTPLACEMENT firm to companies about to initiate layoffs. I can't believe that isn't some kind of a conflict of interest. The email, in addition, was terribly written and the coding was so bad the lettering sprawled over Gmail. These are the people dishing out advice. I was told it was a shame I'd gone to such good schools. And you know, that was right.
A friend who's a therapist says not to despair, but I honestly don't know what to believe anymore. Normally, my pessimistic sense of things is dead-on.
Josh — September 21, 2010
Americans never did understand the concept of deferred gratification, of maximizing pleasure over one's lifetime rather than just right now. Reading through the NYT article, it is hard to feel bad for someone so utterly irresponsible. I really can't fathom how someone can expect to retire and live up to 25-30 more unproductive years without curtailing spending during their working years. There's simply no excuse for them not to have saved more earlier, let alone cashing out of a 401k early, especially given their combined incomes. I'm starting to think the NYT just places articles like this in their paper to make responsible people everywhere become enraged.
JL — September 21, 2010
Popular journalism, it seems to me, tends to look only for a compelling story and not necessarily the truth -- as noted by the more nuanced statistical picture described here. The NYT has also run stories about the terrible impact of the recession on teenage workers (especially in the intersection with race and class), and on young adult workers (positing that the negative affects of delayed entry into work or underemployment will continue over many years of their working life). All of these are likely true, but each article creates and exploits the competitiveness between groups. The ultimate reality is that many people are negatively affected by this recession, young and old, black and white, male and female. The disproportionate affects of the recession are a tragedy for all of us, but they aren't solved by pitting one group against another.
Carol Druehl — September 22, 2010
As a retiree, and concerned citizen, yes, I look at this economic mess and try to envision some solutions. I have such concern for those who tried hard to do all the right things and are finding it next to impossible to carve out a living. What could work in the interim to make strides for those who are legitimately 'stalled' and dreading each day of 'hope and change'.
Perhaps, we could begin to design 'what would work better'. We have so much to work with, should we challenge our imaginations to find new ways of living in our society. Can we all share?? If you have a room(s) to share, or tasks to share or jobs to share, begin to let others know. Ask at your social 'places', whether at church, school, or Internet for like minded folks who can complement your needs and situation??
I would welcome the suggestions of others, we must get up and move and use the gifts we have and can offer. Stagnation and doing what you have done with negative results aint getting it. Do not blame yourself, just activate yourself, even if that action is to call out to family, friends, or associates for 'Help'.
We have so many good and talented unemployed individuals, let them join forces and create a better expression of life.
I enjoy watching the shows on TV wherein people help one another, this would be a great reality show, how to assist others in this desperate and dark time of Hope and Change. Hell with the Hope, make the Change happen in your immediate world. One step at a time and let others know what you need and can offer.
Public Perceptions of the State of the Economy And More « Welcome to the Doctor's Office — August 30, 2011
[...] than for women (this post also has a lot of info about race, sex, and job loss), the fact that older workers who lose their jobs remain unemployed longer than younger workers, that job losses have been accompanied by increased corporate profits, and [...]