CHART OF THE DAY: Long Term Unemployment Is A Huge Problem — Especially If You’re Old

Good times!

I was at a party over the weekend, celebrating Day of the Dead, a few days late. Most of the attendees were contemporaries, give or take 10 years on either side.

It’s amazing to me how things have changed for me and others I talked to, both at that party and generally. Those of us who’ve lost professional jobs in the “downturn”/”recession”/”depression” or whatever you want to call the time period from 2007 to now and are of a certain age haven’t exactly had primo offers extended to us. Instead, we’ve been forced to look at work creatively, to be entrepreneurial, to take risks and see what sticks and what does not.
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There’s a lot of temp work, or short term assignments with no security and no benefits. Plans for self-employment. There’s a lot of early pension taking and calendar countdowns to social security. Almost everyone I know, including those employed full time with benefits, has a horror story about health care costs.

It’s an exciting, yet also a horrible time. I believe we’re on the cusp of something great for the people (and by that I mean the 99%), but there will be a lot of hard times and hard fighting to come before we come out on the other side.
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