40 percent of the U.S. workforce to retire over the next five years.

Atlantic Journal Constitution Blog ^ | 6/8/2012 | Ed Rust Jr. CEO State Farm

[ExxonPatrolUs]

We need you in America’s workforce. Some of our aging baby boomers may be delaying their retirement because of current economic conditions, but eventually they’ll step away. In fact, we expect 40 percent of the U.S. workforce to retire over the next five years. What kind of workers will replace them? Where will the U.S. stand in the global economy if we don’t have skilled and knowledgeable people to take their place?

[FrogMom]

FrogDad and I will both retire at the end of this year.

[Nepeta]

Just try being hired at age 61.

Employers want my experience, knowledge, and work ethic, but they want it in a 35 year old, whom they wish to pay like a non-degreed, inexperienced 20 year old, and whom they wish to manage and respect like a short-term fast food worker.

[central_va]

Employers want my experience, knowledge, and work ethic, but they want it in a 35 year old, whom they wish to pay like a non-degreed, inexperienced 20 year old, and whom they wish to manage and respect like a short-term fast food worker.

Post of the Day.

[KC Burke]

We are only 18 to 24 months behind you. In fact sweetie has already done the “you can kiss...” thing to her place.

[Oatka]

Hey, I call my spread “Copperhead Road”. ;-)

Up in Santa Clara, CA I saw one farm/vinyard called "Oleo Acres - The Cheaper Spread".

[dr_lew]

Count me in. I turn 62 in 2016.

I turn 62 in 2011, so that's like what ? ... two, three years away ?

[Sequoyah101]

Not very likely to happen. Most can’t afford it and it may just get worse.

80mm boomers aren’t going to be selling stock at robust prices to 45mm of the 13th generation who have missed a good part of their prime wage earning years and the 70mm millennium babies are going to arrive and start buying too late to be of much help.

Ditto on selling assets.

Once you get off the horse you’ll not get back on. Nothing worse than guessing wrong, running out of money before you run out of life and not being well enough to re-enter working.

[Dilbert San Diego]

And that’s why we hear so much anecdotal evidence about age discrimination.

Yes, employers want experience when they hire people. But being of a certain age is a drawback. Part of it is that older employees expect to earn more. Part of it is that older employees cost more to insure under employee health plans

Some older employees could have a small advantage if they are management, and going for some senior level executive position, for which a resume filled with 20 to 30 years of increasing responsible experience are seen as strong qualifications.

Otherwise, employers would much rather hire someone young, say a 35 year old with ten years of experience, rather than someone 55 with 30 years experience.

[redgolum]

The jobs will got overseas. Simple.

We don’t have the will to keep them here.

[Wyatt's Torch]

Yeah that number doesn’t pass the common sense test...