Those seeking a job are now facing stiffer competition from the younger generation. This essay will suggest that the main problem this causes is higher poverty among older people, and propose lowering the retirement age as a possible solution.
Increased competition from today’s youth has left many over 50s in poverty. If a young person and an old person apply for the same job, it is often the case that the younger individual will have more qualifications and may also be willing to work for less money, leaving many seniors without work and left behind. This results in many older people being left out of work, but still not eligible to draw a pension because they have not reached the age of retirement yet. For example, a recent survey showed that since the financial crisis in 2008, fuel and food poverty has increased by 82% amongst the aged.
The most viable answer would be to drop the age of retirement. Most industrialised countries could afford to lower this from 65 to 60 for men and from 60 to 55 for women, thus allowing millions of people to simply retire and be looked after by the state. For instance, Finland recently decreased the retirement age for all government employees to free up more jobs for their graduates and this has not only resulted in fewer unemployed older people but also decreased youth unemployment by over half.
In conclusion, the increased rivalry between young and old in the job market has resulted in the impoverishment of many of our older citizens and countries should consider reducing the age of retirement to solve this.
Those seeking a
job
are
now
facing stiffer competition from the younger generation. This essay will suggest that the main problem this causes is higher poverty among
older
people
, and propose lowering the
retirement
age
as a possible solution.
Increased competition from
today
’s youth has
left
many
over 50s in poverty. If a young person and an
old
person apply for the same
job
, it is
often
the case that the younger individual will have more qualifications and may
also
be willing to work for less money, leaving
many
seniors without work and
left
behind. This results in
many
older
people
being
left
out of work,
but
still
not eligible to draw a pension
because
they have not reached the
age
of
retirement
yet
.
For example
, a recent survey
showed
that since the financial crisis in 2008, fuel and food poverty has increased by 82%
amongst
the aged.
The most viable answer would be to drop the
age
of
retirement
. Most
industrialised
countries could afford to lower this from 65 to 60 for
men
and from 60 to 55 for women,
thus
allowing millions of
people
to
simply
retire and
be looked
after by the state.
For instance
, Finland recently decreased the
retirement
age
for all
government
employees to free up more
jobs
for their graduates and this has not
only
resulted in fewer unemployed
older
people
but
also
decreased youth unemployment by over half.
In conclusion
, the increased rivalry between young and
old
in the
job
market has resulted in the impoverishment of
many
of our
older
citizens and countries should consider reducing the
age
of
retirement
to solve this.