Bloomberg Gives Shout-Out to Older Workers

Michael Bloomberg

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.

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Kudos to Bloomberg for calling this out. Not only is this, er , illegal (and hard to prove, as this AARP Bulletin story by Carole Fleck shows), it’s also just bad business. Older workers have been shown over and over in studies to be hard-working and loyal — and, best of all, they show up for the job.

“Given I’m 72, my sympathies are with older people,” Bloomberg said.

For his money, the former mayor said he’d rather hire people — older people — with judgment and experience, folks who’ve “been there.” He can get them to take risks and try new things, he said, adding: That’s easy to teach.

>> Get discounts on financial services with your AARP Member Advantages.

Yet the sad and depressing fact is that if you’re an older worker and lose your job, good luck getting a new one. As my colleague Eileen Ambrose pointed out in an earlier post:

“We know that age discrimination is a big problem,” said Sara Rix, senior strategic policy adviser at the AARP Public Policy Institute.

If you’re concerned about age discrimination in your workplace, AARP has this handy fact sheet with tips and steps you can take.

 Photo: EdStock/iStock

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