Bloomberg Gives Shout-Out to Older Workers

Michael Bloomberg, founder of the financial services company Bloomberg LP and former mayor of New York City, says younger people worry about hiring older workers. They come up with a lot of excuses, like older workers are “old school” or “won’t fit in with the culture,” but the bottom line is they don’t want older employees, Bloomberg said at a panel in New York today. >> 10 Growing Job Fields Kudos to Bloomberg for calling this out. Not only is this, er, …

Holiday Hiring Season Should Be Jolly

If you’re looking for work this holiday season, there’s reason to be ho-ho-hopeful. Employers are expected to hire more than 800,000 seasonal workers as the economy continues to improve and consumer spending picks up, according to an annual holiday hiring forecast. John A. Challenger, CEO of the outplacement consultancy Challenger, Gray & Christmas in Chicago, which issued the forecast, says the hiring spree will take place in October, November and December. If his projections are correct, it would be the first …

9 Things to Know if You’re Laid Off After 50

Tales from the newly laid-off have been overflowing my Facebook news feed of late. These journalist friends, all of them over 50, are gobsmacked by the idea that their publications will go on without them. I get it — the same thing happened to me five years ago — and I’m heartsick for all of them. On the dark day in 2009 when I was unceremoniously dismissed from USA Today, I was informed that my job had been “eliminated.” Of course, …

Fed Report Paints Dreary Retirement for Some

Five years after the Great Recession, many Americans say they’re still struggling to get by financially. Nineteen percent of adults ages 55 to 64 say they have no retirement savings or pensions to fall back on, according to a survey by the Federal Reserve. Also troubling was that an additional 20 percent of people age 60 and older say they’ve given no thought at all to planning for their retirement. That was also the case for about 19 percent of …

University President Takes Salary Cut to Help Minimum-Wage Workers

Raymond Burse believes in spreading the wealth. The interim president of Kentucky State University is giving up more than $90,000 of his annual salary to boost pay for the school’s minimum-wage employees. “This is not a publicity stunt,” Burse told the Lexington Herald-Leader. “You don’t give up $90,000 for publicity. I did this for the people. This is something I’ve been thinking about from the very beginning.” Thanks to Burse’s generosity, lower-paid workers will immediately see more money in their …

Your New Retirement Number: $58,000

En español | Financial experts seem to speculate endlessly about boomers’ projected lifestyle in retirement based on their savings and spending patterns. Now a new survey that polled recent retirees about their standard of living has found that, for some, you don’t need a lot of money each year to retire comfortably and live happily. According to the survey by Baltimore-based investment firm T. Rowe Price, recent retirees report living on 66 percent of their pre-retirement income on average – $58,000 …