general news

Study finds Gen X may be facing history’s biggest unemployment crisis

Study finds Gen X may be facing history’s biggest unemployment crisis
Study finds Gen X may be facing history’s biggest unemployment crisis

A new study by Generation, a US-based non-profit employment organization, has reportedly found that Gen X workers, aged 45 and up, may be bearing the burden of a worldwide unemployment crisis as the COVID-19 pandemic adds to the difficulties already faced by older employees.

According to the report, accelerated adoption of digital infrastructure during the COVID-19 pandemic has expedited job automation and exacerbated underlying ageism, making it more difficult for mid-career individuals to find jobs

The firm discovered that entry and intermediate-level workers between the ages of 45 and 60 face significant hurdles owing to prejudices among hiring managers and hesitation among employees to learn new skills.

Dr. Mona Mourshed, CEO of Generation, claimed that the research was the first to put a number on ageism. According to Dr. Mourshed, it is undeniable that finding work becomes considerably more difficult as people reach a certain age.

Dr. Mourshed added that this is a demographic that is desperately in need, and it is obvious that once people reach a certain age, landing a job becomes much more difficult.

The study polled over 3,800 working and jobless adults aged between 18 to 60 and 1,404 hiring managers across seven nations between March and May of 2021.

Despite the diverse worldwide employment landscape — from the United States to the United Kingdom, India to Italy — the findings were mostly consistent; 45- to 60-year-olds are the most undervalued employee group. In fact, mid-career workers have accounted for a disproportionately large proportion of the long-term jobless during the past six years.

Most significantly, the study discovered that hiring managers regarded people aged 45 and up to be the weakest group in terms of application preparedness, fitness, and experience.

Moreover, older employees' unwillingness to explore new technology (38%), inability to develop new skills (27%), and difficulties collaborating with various generations (21%) were among the hiring managers' top worries.

Source credit: https://www.cnbc.com/2021/07/26/gen-x-workers-may-face-the-biggest-unemployment-crisis-generation.html

About the author

Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.