| July 23, 2009 | E-mail news for employers |
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- Groups urge adoption of tougher age discrimination rules
Citing a spike in the number of age discrimination claims, several groups expressed support for new government rules protecting workers from age bias, at a recent public hearing. Age discrimination charges climbed by almost 30% in 2008, compared with year-earlier levels. Meanwhile, stereotypes have left older workers more vulnerable to job loss during the economic downturn, observers say. They note that some employers continue to believe that older workers are less adaptable to change and cost more money. The Washington Post
(7/16), NYTimes.com/The Associated Press
(7/15)     
- Column: June unemployment rate spikes for older workers
The unemployment rate for older workers rose 4.4% in June, compared with an increase of just 1% for younger workers, writes Emily Brandon. She also writes that older workers who lose their jobs tend to have a more difficult time finding new positions. However, the number of older people who have jobs has actually increased since the start of the recession, according to an AARP analysis. In addition, the number of people over 55 who are interested in working has increased since the economic downturn began. U.S. News & World Report
(7/9)
| Industry & Workplace Trends | | |
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- Community college initiative would benefit older workers who need new skills
A proposed new federal investment in community colleges would allow older workers who have lost their jobs to return to school to learn new skills. President Barack Obama's American Graduation Initiative would provide $12 billion to community colleges. The program would provide training to millions of students who are unable to afford four-year universities and require colleges to compete for the funds by designing new programs or overhauling existing academic programs. The Washington Post
(7/15)
- Employers benefit as older workers remain in the workforce
The economic downturn and the stock market's sharp decline has prompted many older workers to delay retirement. A recent Watson Wyatt Worldwide survey found that 44% of respondents over the age of 50 intend to delay retirement. Observers say the trend benefits employers who were not prepared for the mass retirement of the baby boomers. Those employers now have the opportunity to be more strategic in their efforts to retain institutional knowledge, experts say. The Wall Street Journal (tiered subscription model)
(7/13), CBS News
(7/13)
- Chemical firm looks to hang onto aging workers
German chemical manufacturer BASF is addressing its aging workforce by rolling out new perks designed to appeal to older employees, such as health and wellness initiatives. At the same time, the company is trying to pump up recruitment efforts, going so far as to send workers into elementary schools to teach classes. "If we don't deal with aging, we'll face a serious challenge," says BASF human resources chief Hartmut Lang. CNNMoney.com/Fortune
(7/13)
- Experienced managers take brunt of layoffs
Managers in their 40s and early 50s have been hit especially hard by layoffs during this recession, according to Wharton professors. While some companies are getting rid of older workers to save money, other firms are looking to replace low-performing workers. Lynn Reaser, vice president of the National Association for Business Economics, says many companies are aware that senior-level managers "bring a tremendous amount of experience and insight to the table." Knowledge@Wharton
(7/8)
- Workers keep jobs or moonlight for health insurance
Analysts say that many U.S. workers are staying at a company or taking second jobs to ensure affordable health insurance benefits. Some older Americans are delaying retirement or re-entering the work force to have access to employer-sponsored health coverage. Reuters
(7/9)
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| Law and Regulation | | |
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- Bill would help employers foot the bill for retirees' health care
A Senate committee is considering legislation that would reimburse employers for some of the medical costs incurred by retired workers. The legislation would benefit retired people who have left their jobs but who are not old enough to qualify for Medicare. Many companies have stopped offering health care benefits to these workers because of the high cost, observers say. Workforce Online
(7/9)
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