Huey Harden offers the following royalty-free article for you to publish online or in print. Feel free to use this article in your newsletter, website, ezine, blog, or forum. ----------- PUBLICATION GUIDELINES - You have permission to publish this article for free providing the "About the Author" box is included in its entirety. - Do not post/reprint this article in any site or publication that contains hate, violence, porn, warez, or supports illegal activity. - Do not use this article in violation of the US CAN-SPAM Act. If sent by email, this article must be delivered to opt-in subscribers only. - If you publish this article in a format that supports linking, please ensure that all URLs and email addresses are active links. - Please send a copy of the publication, or an email indicating the URL to [email protected] - DistributeYourArticles (www.DistributeYourArticles.com) has distributed this article on behalf of the author. DistributeYourArticles does not own this article, please respect the author's copyright and publication guidelines. If you do not agree to these terms, please do not use this article. ----------- Article Title: Retirement Age Seniors Are Taking Jobs From New Graduates Author: Huey Harden Category: Business Word Count: 426 Keywords: retirement, work force, labor market, unemployment, jobs, get paid for your opinion Author's Email Address: [email protected] Article Source: http://www.distributeyourarticles.com ------------------ ARTICLE START ------------------
Senior workers are staying longer in the workforce in an attempt to rebuild lost or ramp up their retirement funds. New graduates in the United States are being edged out of the labor force as older workers either postpone retirement or find other jobs to rebuild retirement funds destroyed by the recent crisis. In the US, the size of the work force fell 6.3% for young professionals, and increased a not-so-surprising 8.5% for professionals 55 years and above between December 2007 and January 2010, according to the study by the Economic Policy Institute (EPI). "This is a troubling development; young adults are less prepared to deal with unemployment than other age groups. Without significant prior full-time work experience, many may not qualify for unemployment insurance, or the social safety net," an EPI representative said. The recession, caused by a housing credit shortfall, has had game-changing effects on the work force. With home values and retirement savings lowered or annihilated, senior workers have no choice but to either continue working or seek other employment. The study also stated that even if young professionals were to enter the workforce, they were most likely to be in jobs below or outside their skills level. "This is a serious drain on labor market potential - lower earnings, lower output, lower productivity, and the displacement of less-educated workers. Low wages also jeopardize the return to higher education." "With such little financial security, young workers have less freedom to wait out a downturn and so they frequently take whatever job is available, even if it pays less than a job that matches their skill level," it said. While young professionals account for only 13.5% of the total work force, 1 in 4 unemployed people in the United States are under the age of 25, according to the EPI study. Otherwise, workers 55 years and above, who comprised 19.1% of the work force, are only 13.4% unemployed in comparison, it said. On another note, the EPI study also notes that younger professional workers are also experiencing longer wait periods of unemployment, with more or less the average being less than six months to get a job in December. Although the economy is seeing signs of improvement and growth is slowing gaining ground, the labor market's recovery path is seen to be slower than the market's ability to hire new people fast. The pace is probably too slow for any meaningful change in the young workers' fortunes. "It is not enough for the economy to recover. Young adults need robust growth in the labor market to minimize the effects of the current recession," said the EPI. Huey Harden is your typical guy from Maine who's fired up and well on his way to developing multiple income streams online. Get Paid For Your Opinion Using Free Paid Surveys. For more information, visit his content and FAQ site at: Free Paid Surveys (http://www.getpaidforyouropinion.net) ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
