Looking for a Job next year 2019 ?

Even as unemployment reaches historic lows, close to 8 million Americans 55 and over are either out of work, stuck in part-time jobs or in positions that do not provide health insurance and pay low wages, The Wall Street Journal reports.

• Taking a hit: Older workers, who were hit particularly hard by the global financial crisis a decade ago, face an average 27% pay cut when they do find employment, often after a lengthy job search.
• Financial fallout: Growing expenses, rising debt and joblessness have exacted a financial toll. The portion of U.S. bankruptcy filers over 65 grew nearly five-fold between 1991 and 2016, from 2.1% to 12.2%.
• Pushing ahead: Despite the grim picture, many older Americans are hitting the pavement. The share of 55 to 64-year old new entrepreneurs increased from 15% to 26% between 1996 and 2016, according to data from the Kauffman Foundation.

That's because a lot of seniors were separated from their jobs, through attrition and cut backs, at a time when they weren't quite ready to retire, and hadn't saved enough money. So they have to continue to work, as expenses and healthcare continue to rise, they have to supplement whatever income they have whether it's a pension or S.S.

The Auto Industry will force more ""seniors"" into this position soon

How does this relate to Detroit..? I mean, if the argument is "Detroit has seniors living in it" then I guess we can pretty much post any topic and claim it has some kind of like to Detroit.

Hey everyone, A new study says Cats can read your gaze, link HERE. How does this relate to Detroit? Oh, because now when you see a feral cat in Detroit you'll know!

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Originally Posted by K-slice

How does this relate to Detroit..? I mean, if the argument is "Detroit has seniors living in it" then I guess we can pretty much post any topic and claim it has some kind of like to Detroit.

Hey everyone, A new study says Cats can read your gaze, link HERE. How does this relate to Detroit? Oh, because now when you see a feral cat in Detroit you'll know!

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Where in this thread, was Detroit mentioned ?? I'll wait... No where is Detroit mentioned even in the links provided. Reading is fundamental.

Well let's see - the AUTO industry is laying off people -

General Motors announced it was cutting 14,700 jobs in North America — including several thousand in Ohio and Michigan. That's on top of thousands of jobs the company had already trimmed over the past two years.

Ford - which announced last month it would be making an unspecified number of cuts as part of a "redesign" of the company.

Layoffs - Jobs - Older individuals with 401 k investments going up in dust - hmmm

Let Detroiters eat cat food, eh ?
Because they sure as hell won't be affording a loaded Buddy's pizza, huh KSlice ?

A bit of short term memory loss happening.......
Production at three assembly plants and two supporting propulsion plants, including Detroit-Hamtramck Assembly and the Warren Transmission Operations, would stop in the new year.
Buyouts will be offered to 8,100 white-collar workers.
In Oakland County, General Motors employees about 9,700 people
— the county’s third largest employer.

The economy is changing rapidly due to automation, globalization and changing consumer preferences. There's no going back. I suspect a generation that grew up the concept of employer loyalty and the perception that a company would take care of them for life might have a harder time with this.

If you job has been replaced by automation, or your skills can be replicated by an "engineer" that'll work for $20k/year, you're in a really tough spot.

I joined the high-tech workforce about 20 years ago, so to me, rapid change has been the norm. I've survived multiple rounds of layoffs, narrowly escaped a full liquidation, and continue to have the pleasure of training engineers in lower cost countries.

The only thing you can do to escape it is adapt and attempt to stay ahead of the curve. Not easy by any means, but necessary. Learn new skills and have some awareness of when your role is headed to obsolescence or can be outsourced. I guess it sounds cold-hearted to say, but it's just business.

I expect my retirement to consist solely of self-funded retirement accounts. God willing, I'll have enough to live comfortably, but the market over the last few months hasn't been kind to any of us. I feel for those who are nearing retirement that may not have the comfortable future ahead of them they expected - but at the same time, my generation and beyond will likely never see those types of benefits - so it's tough to feel too much sympathy.

There are a lot of opportunities out there, but the right skills are required. I do know that in electronics, particularly ADAS [[advanced driver-assistance systems), EVs and the like, there is a big hiring push in this area. I know that's a career narrow focus to cite, but that's what I know.

You might find this interesting. While the postings for the month are down slightly, there are still an abundance of openings for professionals in the area:

http://milmi.org/Portals/198/publica...-27-115757-423

You need to look a little bit beyond layoffs at manufacturing plants, and trimming the ranks of middle management, if you want to get the full perspective. It's not all doom and gloom.

Spending will decrease by folks around Metro-Detroit in 2019

The closure of the Detroit-Hamtramck plant marks the final semblance of an automotive plant in Hamtramck after American Axle & Manufacturing closed in 2012. The GM factory employs 1,348 hourly and 194 salaried workers. In 2017, according to city records, it contributed $220,475 in taxes to Detroit.

In Warren, the jobs impact is less severe. The transmission plant employs 265 hourly and 70 salaried workers. But in 2017, the more than 2-million-square-foot property with about 50 buildings contributed $304,298 in taxes, according to city records.

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Originally Posted by Cincinnati_Kid

Where in this thread, was Detroit mentioned ?? I'll wait... No where is Detroit mentioned even in the links provided. Reading is fundamental.

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Which is exactly what K-slice was saying. Detroit wasn't mentioned in the original post or the links provided. Not really sure what you're trying to argue about.

When I was young my father told me that the only way to get ahead in life was to get a job and stick with it until retirement,he did that and 2 years before retirement was downsized at 50%.

Interesting enough he went to work for a guy that was working under him in the company that had taken his buyout a few years earlier and started his own company,at a higher wage and better benefits.

He did change his fatherly advice though,not that I ever followed it anyways.

During the crash and companies were doing buyouts,there were a lot that cashed out their 401k and combined buyout funds and opens up their own business or invested it,which created employment opportunities for others.

A lot of the tech people became self employed or sub contracted as consultants.

So it is not really cut and dry as to the ramifications.

I have done okay by learning multiple skilled trades,no matter what the economy is people still have to go,when the toilet gets plugged up or a water line breaks they will find the money,same as with carpentry,electrician HVAC etc.

I have friends that own companies that do the green building tech stuff,making everything talk to each other or whatever they do,their guys make over 200k a year and all of the overtime they want and they still cannot fill positions.

There must be this big black hole out there sucking up millions of collage graduates because people cannot seem to be able to find them,or they are studying things that have nothing to do with the real world,if one can adapt and learn new things there is plenty of opportunity out there.

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Originally Posted by NSortzi

Which is exactly what K-slice was saying. Detroit wasn't mentioned in the original post or the links provided. Not really sure what you're trying to argue about.

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I guess I misunderstood what he was saying. My apologies.

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Originally Posted by wazootyman

The economy is changing rapidly due to automation, globalization and changing consumer preferences. There's no going back. I suspect a generation that grew up the concept of employer loyalty and the perception that a company would take care of them for life might have a harder time with this.

If you job has been replaced by automation, or your skills can be replicated by an "engineer" that'll work for $20k/year, you're in a really tough spot.

I joined the high-tech workforce about 20 years ago, so to me, rapid change has been the norm. I've survived multiple rounds of layoffs, narrowly escaped a full liquidation, and continue to have the pleasure of training engineers in lower cost countries.

The only thing you can do to escape it is adapt and attempt to stay ahead of the curve. Not easy by any means, but necessary. Learn new skills and have some awareness of when your role is headed to obsolescence or can be outsourced. I guess it sounds cold-hearted to say, but it's just business.

I expect my retirement to consist solely of self-funded retirement accounts. God willing, I'll have enough to live comfortably, but the market over the last few months hasn't been kind to any of us. I feel for those who are nearing retirement that may not have the comfortable future ahead of them they expected - but at the same time, my generation and beyond will likely never see those types of benefits - so it's tough to feel too much sympathy.

There are a lot of opportunities out there, but the right skills are required. I do know that in electronics, particularly ADAS [[advanced driver-assistance systems), EVs and the like, there is a big hiring push in this area. I know that's a career narrow focus to cite, but that's what I know.

You might find this interesting. While the postings for the month are down slightly, there are still an abundance of openings for professionals in the area:

http://milmi.org/Portals/198/publica...-27-115757-423

You need to look a little bit beyond layoffs at manufacturing plants, and trimming the ranks of middle management, if you want to get the full perspective. It's not all doom and gloom.

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Good post. I wish you the best of luck, and you've persevered, keep it up.

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Originally Posted by Richard

There must be this big black hole out there sucking up millions of collage graduates because people cannot seem to be able to find them,or they are studying things that have nothing to do with the real world,if one can adapt and learn new things there is plenty of opportunity out there.

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Have you read job postings lately? They are very specific, and want gobs of experience in that specific job [[20 years experience as a left handed mobile app developer - wait, haven't they only been around 10 years?). The filtering software will reject anyone who doesn't fit the criteria. Nobody seems to want to develop people.

The catch 22 has always been there,tech specific it seems as though some employers will advertise positions that will be unobtainable to anybody but somebody from overseas for cheaper labor rates.

The requirement is that you have to advertise locally and be unable to fill the position,I do not think that they really research into weather the add is bogus,just that it existed.

Hell, Amazon is paying $30,000 a year with benefits [[$15/hr)
for complete UNskilled help , but they expect you to work.
Don't meet the fair expectations, they fire your ass, quickly.

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Originally Posted by O3H

Hell, Amazon is paying $30,000 a year with benefits [[$15/hr)
for complete UNskilled help , but they expect you to work.
Don't meet the fair expectations, they fire your ass, quickly.

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Yeah, sweet jobs.

ASK the UAW about the pissing in coffee cans on the line
or the working conditions in the plants over the years via the Big 3.
Its the same thing, work hard to get that paycheck. There is no easy money