• Randy

Employment strong among ages 55+

The Bureau of Labor and Statistics reports as of December of 2018 that employment among ages 55+, both men and women are one of the strongest age groups, second only to 34 - 44.

The numbers below reflect the % of "official" unemployment.

16 - 19 = 12.5

20 - 24 = 7.2

25 - 34 = 3.9

35 - 44 = 2.8

45 - 54 = 2.9

55+ = 2.9

This segment is also one of the most improved age group over the past 12 months (down from 3.3). So why am I talking about people age 55 a older? Because in our universe of telecommuting sales people, believe it or not, that demographic represents about half of all our sales people.

I suspect one of the reasons this age group is doing so well is the normalization and growth of remote work and contract work. Remote work makes sense for late career people because they need less oversight, they posses more specialized skills, their experience makes them more competent and more efficient with their time. Furthermore the middle age and up tend to be less tolerant of long commutes, work travel, and have lower energy levels. They also, many times, have dual obligations of raising kids while providing care for elderly parents which makes flexibility potentially a deal breaker.

I think this demographic will fare particularly well once the unemployment rate rises again for the same reasons mentioned above, Being remotely employable makes them more resilient as companies begin seeking any and every way to cut costs, including moving as much of their workforce as possible to remote positions.

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