Tuesday, 01 November 2011
Elders Worry About Today and Tomorrow
A new report from the AARP Public Policy Institute highlights the pessimism of elders (50-plus) about the economy in general and their job opportunities.
A large number, 76 percent were “not too” or “not at all” confident that they could find a good job within the next six months. (Asked of people working and people no longer in workforce.)
[For larger images within the entire survey report, click here (pdf).]
Asked about whether job opportunities and the economy in general have gotten better, worse or stayed about the same in the year since October 2010, elders were overwhelmingly gloomy.
77 percent of respondents believe job opportunities have worsened or stayed the same and wait for this: 93 percent say the overall economy has worsened or stayed the same.
Although the 6.1 percent unemployment rate for people older than 50 is lower than the overall rate of 9.1 percent, it takes them, on average, a bit more than a year to find a new job compared to an average of 38.6 weeks for younger workers.
This survey is a followup to a similar one conducted by the AARP Public Policy Institute a year ago. Of the more than 5,027 people interviewed then, they were able to locate about 1304 of the same people for this survey.
From a list of nine choices, the number one worry among these elders was about whether the president and Congress to work together to solve the nation's economic woes. 91 percent were “very” or “somewhat” worried about this. The other worries in descending order – very or somewhat worred:
80% Another recession
72% Further Wall Street decline
72% Rising taxes
63% Having enough money for healthcare
52% Rising interest rates
35% Able to pay rent/mortgage
32% Losing job
Other topics covered in the report include retirement income confidence, savings balances compared to pre-recession, living standards compared to parents' and expected children's living standards, among others.
How do these compare with your worries?
(H/T to Arthur Delaney of Huffington Post)
At The Elder Storytelling Place today, Jackie Harrison: A Senior's First White Water Rafting