Workers 50+ Bringing Their Talent Back To The Workplace
November 18, 2021
By Michael Yublosky
On Friday the U.S. Department of Labor released it’s report “Job Openings and Labor Turnover – Sept. 2021.” As you can see from the above charts, the number of job openings as well as hires and total separations has not changed very much over the past few months.
Some 4.4 million workers quit their jobs in September, 2021. The reasons vary according to what ‘expert’ answers are supplied. The number is of those who quit is, however, staggering when compared against the –
- 2.1 million who quit working at the onset of the pandemic in April, 2020, and
- 1.555 million who quit in August, 2009 when we began to emerge from the previous recession.
However, there are some statistics for older adults 50+ to consider on the other side of the equation. Some of the three million people forced into early retirement due to the COVID-19 pandemic are now trickling back into the workforce.
“Older U.S. workers are ‘unretiring’” was the headline earlier this week in an article posted on MarketWatch. According to an interview with Nick Bunker, director of economic research at Indeed Hiring Lab, 2.5% of retired workers returned to work in October, 2021.
The article attributes this to the worker shortage and millions of job openings along with rising wages coupled with workplaces becoming safer due to rising vaccination rates.
Personal note: Rising inflation may also be contributing.
The percentage of senior adults 55+ in the workforce is still remains below pre-pandemic levels. The percentage of those older ex-workers seeking employment is also below those levels.
The article quoted Federal Reserve Chairman Jerome Powell in his September 30th testmoney before Congress. At that time he said that the workforce will likely “…get back a big chunk of the so-called retirees.”
That’s why xBound was founded. Our mission is to bring together those older adults seeking to work again with companies eager to embrace their experience and talent.
Michael Yublosky is truly an xBound success story. Yublosky specializes in LinkedIn and internet marketing and works on a part-time basis to stay current and relevant. He helps senior adults and small businesses establish their unique brand, identify target markets and keywords, differentiate themselves and develop professional strategies and tactics to engage with prospective employers or clients. He also teaches senior adults how to enhance their technology and computer skills to better adapt to current demands. Connect with Michael on LinkedIn.Return to Insights