In the meantime, a reality check. This is the first time in 21th century that 4 generations are in the working force:
Crooks and Liars:
SCOTTSDALE, Ariz. -- Jose Villareal once had a successful career as a franchising executive with Pepsi Co. Now, at the age of 67, he can't even get a job as a school custodian.
Mr. Villareal is among the growing numbers of retirement-age Americans battered by financial losses who are trying to get back into the work force -- or never left it.
Participation in the labor force by workers over age 65, which has been creeping upward in recent years, hit 16.9% in April, the highest for that month since 1971, the Labor Department said Friday. Meanwhile, unemployment for workers in that age group was up sharply in April from a year earlier, to 5.8% from 3.5%.
"We're just living day-to-day," Mr. Villareal said.
In an April survey, 22% of workers nationwide said they were "not at all confident" that they will have enough savings for a comfortable retirement, surpassing the number who are "very confident" for the first time since the survey began in 1993, according to the Employee Benefits Research Institute, based in Washington, D.C. A fifth of those workers said they now plan to work into their 70s. One in 10 doesn't plan to ever retire.
Because Mr. Villareal can't get a job, his 62-year-old wife, who had left the work force two decades earlier after the birth of their daughter, started working at a discount retailer where she earns $10 an hour.
2 comments:
Sadly children growing up today will think of retirement for all ancient history. They see their grandparents and great grandparents working.
In the last 8 years I have seen more elderly working, at the grocery stores, at the Targets etc., it's just become a common practice, and employers must love it because these folks are on medicare.
This must explain why Newt thinks he needs a job again.
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