Losing your job after age 50 could derail your career
Older workers who lose their jobs after age 50 face significant challenges in re-entering the workforce, often experiencing long periods of unemployment. While some find new roles, many struggle with age discrimination and a drastic reduction in salary.
Why it matters
This highlights a growing economic vulnerability for the aging workforce, which has long-term implications for retirement security and labor market participation.
Thomas Heep (left), Steven Fielding (center), and Jon McCarty (right) struggled to find work after losing their jobs later in life. Thomas Heep (left), Steven Fielding (center), and Jon McCarty (right) Some Americans who lose their jobs after age 50 spend years struggling to find comparable work. In September, the average unemployment duration for workers ages 55 to 64 was over eight months. Some older job seekers suspect age discrimination is hurting their chances of finding work. Cathy Valentine lost her job as a transformation lead in 2023. After three years struggling to find a comparable full-time job, the 61-year-old is now a prep cook at a cafe. She said she earns about an eighth of her previous salary. "It just feels like I tried to do everything right and I still am stuck," said Valentine, who lives in Florida.
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