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The stock and housing crash of the last 5 years really did a number on 401k plans requiring boomers to work even more.
In summation, your wrong.
you need to read your article before you respond to people and claim they are wrong. it says a larger percentage of BB's are continuing to work in comparison with previous generations. that is not the same as saying they arent retiring.
and since there are far more BBs then there were older people in previous generations, there are still a net more people retiring than staying in the work force..
Not necessarily. Furloughs are only one strategy as cost-cutting. There are hiring freezes in place. Seasonal and temporary positions eliminated, and retirements that are not being refilled. Most agencies are heirarchical, like businesses, they protect the senior, expensive staff, and throw the more numerous, lower paid staff under the bus. So, while a senior manager, earning $150k a year will not get furloughed, five seasonals or admin staff positions will not be filled this year. You'll have the old dogs sitting in their offices, not doing what the agency is supposed to do. That is the way it works.
Senior managers in the Department of Defense are getting furloughed right along with their lowest worker this go around. The rule is that if ANYONE in the organization has been able to take leave in the last 6 months without it resulting in another person having to do overtime you are subject to furlough. The GS 13-15s that my husband works with are being furloughed. Even the SESs in his chain-of-command are. Who is not getting furloughed are the political appointees and active duty military.
There is a hiring freeze in place, as there should be.
the FACT is you have 13,000 people turning 18 every day..and 10,000 turning 65 every day
so the fact that 10,000 boomer(65+) retire everyday is NULLIFIED by the fact that 11,000-13,000 turn 18 every day
and BTW...most boomers are putting retirement off
Unemployment Rate:
March 1978: 6.3%
March 1979: 5.8%
March 1980: 6.3%
March 1981: 7.4%
March 1982: 9.0%
March 1983: 10.3%
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