Business

Economists on the Left Discover … Well … Economics

1 Mins read

Basically, it’s a mess,” says [Steven A.] Sass of the world of retirement today. He says employers liked mandatory retirement because it allowed for an orderly and predictable departure from the payroll. But that certainty is gone at a time that, more than ever, older workers need to find new jobs. In the 1980s, Sass says, about 75 percent of 50-year old workers would be at the same company 10 years later. Today, only half of 60 year-olds are working at the same place that employed them at age 50.

Basically, it’s a mess,” says [Steven A.] Sass of the world of retirement today. He says employers liked mandatory retirement because it allowed for an orderly and predictable departure from the payroll. But that certainty is gone at a time that, more than ever, older workers need to find new jobs. In the 1980s, Sass says, about 75 percent of 50-year old workers would be at the same company 10 years later. Today, only half of 60 year-olds are working at the same place that employed them at age 50. In Working Longer, he and [Alicia] Munnell float what he calls the “somewhat scandalous” suggestion that the prohibition on mandatory retirement be repealed—allowing companies to impose it, he suggests, at the “politically feasible” age of 70. “Unless employers have an assurance they have a way to get rid of older employees, they won’t hire older workers,” he says.

This is from Yglesias.

   

Related posts
Business

Essential Guidelines for Maximizing Medical Practice Revenue as Competition Swells

3 Mins read
Running a medical practice has presented a number of new challenges over the last year. There were some practices that were deemed…
BusinessHospital Administration

11 Crucial Hospital Management Tips

3 Mins read
Proper management is the primary key to success in any organization, and the same applies to the hospital management systems. The following…
BusinessHealth carePublic Health

7 Incredibly Important Benefits of Purchasing Health Insurance

3 Mins read
No matter how healthy you are, at some point in your lifetime, you will probably need medical care. Health insurance provides a…