A great piece of analysis generated by a regular reader of the Calculated Risk Blog offers these not very encouraging insights.
For the long term unemployed, it is better to be younger – and have less education.
More education = longer unemployment if the job is lost. The upside is the more educated the worker, the less likely they are to lose their job, but the downside of being more educated is that once they hit 45, if they lose their job, they are toast.
So what does one do with the over-45s with a BA or higher? … The current mantra is ‘more education is good for you’, but this shows that it can, in the long run, hurt you.
It is tough to find a job, especially if you are older and better educated.
It is because we live in a society that discounts the value of age that we have 16,000 nursing homes.
It is because we live in a society that discounts the value of age that we have an economy which is increasingly discarding older workers.