, Columnist
A 'Safe Harbor' Plan For Hiring Older Workers
The government can aid the prospects of middle-aged job applicants by giving companies more freedom to fire them.
Out of work, out of luck.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Nearly every day, hundreds of Americans over the age of 50 lose their jobs due to corporate downsizing. These workers remain unemployed for longer periods than do younger workers and are more likely to leave the workforce entirely. The rise of long-term joblessness among middle-aged Americans is straining public resources, contributing to drug use and harming economic growth.
What can be done? Paradoxically, federal laws against age discrimination also discourage companies from taking a chance on older job applicants. That's why the key to helping older workers find jobs is to reduce the costs of letting them go.