Hope is on the Horizon for Struggling Older Workers

While older workers are suffering overwhelmingly from the economy, it looks like things may be getting better in the future. Elizabeth Pope reports:

By 2018, boomer retirements and smaller pools of younger adults could result in at least 5 million job vacancies, according to the study for the MetLife Foundation, the charitable arm of the insurance and financial services giant, and Civic Ventures, a San Francisco think tank. The fields of education, health care, government and nonprofit work will account for about half of the openings, it says.
“These jobs will go begging and the economy could suffer if older workers don’t adopt them as their encore careers,” says Barry Bluestone, an economist at Northeastern University in Boston who prepared the study. As the economy recovers, spot shortages in some sectors could appear even sooner, he adds.

But while things may be better down the road, it’s not that alleviating to know that things will improve so far in the future; people are suffering now. But Civic Ventures CEO Marc Freedman reminds us that second careers last as long as 25 years. He says, “As terrible as the current downturn is, this study is a reminder that you need to think about a longer time horizon. How are you going to invest your own human capital so you can take advantage of emerging opportunities?”
Check out the rest of the piece here.