Unemployment at midlife
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Until recently, I had spent many a day hanging out at the corner of Baby Boomer Boulevard and Global Economy Bypass waiting, along with a bunch of other people, for the bus to Permanent Employment Place.
This intersection is a dangerous one, littered with the wreckage of successful careers. The survivors would usually straggle over, dazed and confused, and ask whether we bystanders knew where they might get help salvaging the wrecks.
“I notice that more senior executives who are losing a job for the first time are quite devastated,” said one of those bystanders, Philadelphia-based career coach Sam Gibson.
To make matters worse, they are increasingly likely to spend a long time jobless. According to seasonally unadjusted figures from the Bureau of Labor Statistics, an average of 526,000 workers age 35 or older were unemployed for one year or longer each month in 2005, fewer than in 2004, but more than double the number for 2000, when the figure was at its lowest.
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