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Forced into Early Retirement: Older Workers Encouraged to Upskill, Reskill

Video Credit: FOX 47 News Michigan - Duration: 02:18s - Published
Forced into Early Retirement: Older Workers Encouraged to Upskill, Reskill

Forced into Early Retirement: Older Workers Encouraged to Upskill, Reskill

With countless companies being forced to downsize during this time many older workers have been forced into unplanned early retirements.

Chris Conte takes a look at what older workers need to be successful in this situation.

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WITH COUNTLESS COMPANIES BEINGFORCED TO DOWNSIZE... MANY OLDERWORKERSHAVE BEEN FORCED INTO UNPLANNEDEARLY RETIREMENTS.CHRIS CONTE TAKES A LOOK AT WHATTHOSE WORKERS NEED TO BESUCCESSFUL..

WHENTHIS HAPPENS.AS AMERICANS SLOWLY RETURN TOWORK, THERE ARE SOME WHO AREFINDING THE CURRENT ECONOMICSITUATION MUCH GLOOMIER THANOTHERS.SOT000122 THESE ARE TOUGH TIMES,AND THEY'RE TOUGH TIME FOREVERYBODYTHAT'S SUSAN WEINSTOCK WITHAARP.WE SAT DOWN WITH HER TO GET ABETTER PERSPECTIVE OF WHAT THECOVID PANDEMIC HAS DONE TOOLDER WORKERS.AS TENS OF MILLIONS OF JOBS HAVEDISAPPEARED.SOT000725 ARE THESE JOBS GOING TOCOME BACK?

ARE OLDER WORKERSGOING TO BE BROUGHT BACK LASTBECAUSE OF CDC GUIDELINESMANY LARGE COMPANIES ...INCLUDING THE AIRLINES AREOFFERING EARLY RETIREMENTPACKAGES.SUSAN'S CONCERN, OLDER WORKERSARE BEING FORCED OUT OF WORKWITHOUT ENOUGH SAVEDFOR RETIRMENT.AND THEN THERE'S THIS.GRAPHICHALF OF FULLTIME WORKERSEXPERIENCE JOB LOSS AFTER THEAGE OF 50.IT TYPICALLY TAKES THEM DOUBLETHE TIME TO GET BACK INTO THEWORK FORCE AS IT DOES A YOUNGERWORKER.EVEN IF THEY FIND A JOB, THEYEND UP MAKING LESS MONEY.AND, THERE'S LESS TIME TO MAKEUP RETIRMENT SAVINGS THAT WERELOST.SOT000535 WE KNOW SAVING THROUGHWORK IS THE BEST WAY TO SAVE FORRETIREMENT AND WHEN YOUDON'T HAVE THAT OPTION IT MAKESIT A LOT HARDERGRAPHICHER ADVICE IF YOU'RE OVER THEAGE OF 50 AND OUT OF WORK.USE THIS TIME TO UPSKILL ORRESKILL.FIND AN ONLINE CLASS ... MANYARE FREE.SHOWING EMPLOYERS THAT YOU'RE ALIFE-LONG LEANERS MAKES YOURMORE MARKETABLE.SOT000818 WE WANT TO MAKE SUREOLDER WORKERS ARE ABLE TORECOVER FROM THIS ALONG WITHEVERYBODY ELSE IN THE ECONOMYWITH SO MUCH UNCERTAINTYSURROUNDING THE ECONOMY ...SUSAN EVEN RECOMMENDS TAKINGMONEY YOU MIGHT HAVE SPENT ONCOMMUNITING, AND THROW IT INTOYOUR RETIRMENT.

SOT000215 WE WANT TO ENABLE PEOPLETO WORK FOR AS LONG OR AS THEYNEED TO WORK...AS THE COUNTRY WORKS TOREBOUND.I'M CHRIS CONTE REPORTING.USUSMORE THAN A THOUSAND COMPANIESHAVE SIGNED A-A-R-P'S EMPLOYERPLEDGE.MEANING THEY WON'T HIRE BASED ONAGE.YOU CAN FIND A LIST OF ALL THOSECOMPANIES... AND SEE IF THEY'REHIRING... ON A-A-R-P




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