Last week, a hearing called by the U.S. Commission on Civil Rights examined the issue, attempting to determine whether part of the reason older workers have such trouble finding work, on aggregate, is due to employer biases out of their control. The unemployment rate is a comparatively moderate 7.1 percent for workers over the age of 55 — it’s 9.7 percent nationally — as older workers are more likely to retire early or leave the workforce if they lose their jobs. But that hides the troubling reality for those who can’t afford to leave the labor force.
The unemployment rate for over-55s is at the highest level since 1948. Since the recession started, both the number of older people seeking work and the rate of unemployment for over-55s have increased more sharply than for all other demographic groups. And older workers comprise a high share of the long-term unemployed. In May, the average duration of unemployment for older job-seekers climbed to 44.2 weeks, 11 more weeks than the national average. Nearly six in ten older job-seekers have been out of work for more than six months.
A major reason "retirement" investing is encouraged and why social security is important is efficiency. It is not just that it is "NICE" to retire, it is that it is important the older generation retire to open spots for succeeding age groups. But that bias spills over in different ways, if you don't get to fit into the classic model and get fired for whatever reason in middle-age or later, before you are ready to retire YOU ARE SCREWED.
The fact that this is becoming more prevalent, is just further indication that not only is Boehner a war-mongering idiot, he has no fucking idea how the actual world is operating outside the village -- or more likely doesn't fucking care.