He remembers the exact date -- November 30, 2008. That is when Hue Galloway of New Britain, Connecticut was laid off with just a week's notice from his job repairing printers and computers throughout the state. His annual evaluations, he said, had been good -- 30 years of experience and 'never a bad review,' but that didn't keep him from being let go without any real explanation.
Through my work I come in contact with many folks who feel stuck. I hear their stories and see that their spirits are depleted. I work to help them solve problems related to senior relatives who need assistance but I also wish I could help them get out of their job ruts. Yet how do you get un-stuck when you have mouths to feed and a mortgage to pay?
I thought I was set for life is the most common phrase I heard in interviews with older Americans who lost their jobs as a result of the recent recession. Over their careers, they had received promotions, praise, and bonuses. Then one day, sometime after the economic downturn began in 2008, they were told they were no longer needed and ushered out the door.
In 1950 there were 16.5 workers for every retired worker. In 2012 the ratio was reduced to 3.3 to 1. By 2020 that ratio is projected at 2.2 to 1 and to almost 2 to 1 by 2030. Is anyone considering these projections and their implications for the U.S. economy?