Losing your job after age 50 could derail your career

Business Insider by 5 min read 35x views
Losing your job after age 50 could derail your career

Share Post

Thomas Heep (left), Steven Fielding (center), and Jon McCarty (right)

Thomas Heep (left), Steven Fielding (center), and Jon McCarty (right) struggled to discover activity following losing their jobs afterward in life. Thomas Heep (left), Steven Fielding (center), and Jon McCarty (right)

Cathy Valentine misplaced her job as a transformation guide in 2023. After three years struggling to discover a comparable full-time job, the 61-year-old is now a prep chef at a cafe. She stated she earns concerning an eighth of her former salary.

"It fair feels akin I tried to do everything correct and I motionless am stuck," stated Valentine, who lives in Florida.

Some older workers who endure their jobs can oversee to retire, during others discover a comparable function fairly quickly. But those who don't hazard getting stuck in a job search that drags on for months or equal years — and is getting longer.

On several metrics, older Americans are doing fair fine in the job market. As of September, older workers had lesser unemployment rates than younger workers, and whenever they were jobless, the median dimension of that unemployment was shorter.

But those figures obscure a worse trend for older job seekers. While fractional of 55 to 64-year-olds were jobless for a comparatively low three months, the group's average unemployment duration was additional than eight months in September. That method several older workers have been unemployed for so lengthy that they're pulling the average way up.

The gap between the average and median has widened in latest months, suggesting the longest job searches may be expanding equal longer.

In September, concerning 173,000 unemployed Americans ages 55 to 64 had been out of activity for at smallest six months, and several are facing far longer stretches of unemployment. A Bureau of Labor Statistics inspection established that lone 57% of workers ages 55 to 64 who misplaced their long-held jobs any period between 2023 and 2025 had established new jobs as of January 2026. By contrast, 73% of workers ages 25 to 54 who misplaced long-held jobs in that duration had established new work.

Some older workers may have taken their job defeat as a sign they should retire. But for others, it marked the commencement of an uphill battle to discover another job.

The battle to get hired following 50

As their searches drag on for months or years, older job seekers akin Valentine frequently accuse age discrimination for at smallest part of their struggles.

Thomas Heep, a Denver inhabitant in his 60s, has been searching for full-time activity since losing his operations director function in April 2025. He's struggled to pay his bills and filed for bankruptcy before this year.

Heep suspects several employers may favor younger job seekers complete person his age since they concern he won't remain in the workforce much longer.

"Even if a business loves my résumé, accomplishment set, and activity history, they're going to appearance at my age and go: How lengthy is he going to stay? He's near to withdrawal age. It's too risky." he said.

Thomas Heep

Thomas Heep has struggled to discover full-time activity since losing his job final year.  Thomas Heep

Other older workers doubtful their pay expectations may be operating against them.

A erstwhile Big Tech employee in her first 60s who misplaced her job final twelvemonth stated she worries her years of cognition may put her at a disadvantage compared alongside younger candidates consenting to obtain lesser pay.

"There's so many group getting laid off at this item who are younger, consenting to obtain these ridiculously low salaries alongside no benefits," she said.

While several investigation suggests age bias plays a function in hiring, proving it in any idiosyncratic case can be extremely difficult. And for older job seekers who doubtful their age is holding them back, there's frequently no apparent way to addressing the problem.

When finding another job feels out of reach

For several older workers, a prolonged job hunt eventually leaves them alongside two options: resolve for lower-paying activity or provision up looking altogether.

Jon McCarty spent 18 months trying to discover another software engineering job following losing his function in 2022. Earlier in his career, it typically took him concerning a duration to discover a new job. But he stated that as he got older, his stretches without activity grew longer.

McCarty, who's in his first 60s and lives in Virginia, eventually took a part-time cashier job at Home Depot. He's arrive to accept he'll apt never come back to his erstwhile career.

Jon McCarty

Jon McCarty spent additional than a twelvemonth searching for another application engineering job.  Jon McCarty

Steven Fielding, 58, has been laid off additional than five times during his occupation in tech communications. He's been looking for activity since April and stated the occupation gaps complete the way of his occupation have taken a toll on his finances, leaving him alongside small in savings.

Fielding, who lives in Washington state, stated he's trying to modify to the changing job market, including by evolving his AI skills. He suspects his age may be contributing to his difficult search, in part since he believes several employers favor younger workers who are consenting to obtain lesser salaries.

Still, he's expecting his decades of cognition can assistance him district another opportunity.

"It's akin my home is downward to the basis and I'm going to have to rebuild again," he said. "It's beautiful daunting to think about."

Do you have a narrative to share? Reach out to the newsman via email at [email protected], or via Signal at jzinkula.29.

Jacob Zinkula is a elder economics newsman alongside Business Insider. He joined in 2022 and covers the job market, the tech industry, and careers.Before joining Business Insider, Jacob earned a Master’s in Business & Economic Reporting from Columbia University. Prior to alumnus school, he worked as a credit analyst. He graduated from the University of Notre Dame alongside a bachelor’s flat in Finance and a insignificant in Journalism.

Other Article Business Insider
↑
Close Right Ads
Close Left Ads