Healthcare Costs Affects Hiring of Men
Some interesting numbers released by the US Bureau of Labor Statistics shows how companies are staying away from hiring men during the years they are most likely to have heart attacks, stroke or cancer: ages 55 to 64. Women, during the same years of age, are more likely to be hired and that number has been steadily rising since 1980.
For example, in 1980, men ages 55 to 59 found 82 percent working while women, same age, were 49 percent. By 2005, the numbers were 78 and 66 percent respectively. More dramatic were the numbers from ages 60 to 64. In 1980, 61 percent of men and 33 percent of women were working. By 2005, the numbers were 58 and 46 respectively.
In essence, companies are “betting” that women are a cheaper workforce, that is less likely to have costly medical needs, lost work time and productivity and possibly less cost in wages.. Companies are forcing men into early retirement and putting women in the uncomfortable role of primary wage earner and “head of household.”
But, the story doesn’t end at this point because the trends reverse after age 65. First, men and women are now eligible for Medicare and other government subsidies such as a prescription plan and social security. Hence, the onus of medical coverage and higher pay is off the businesses’ “back.” Men in the workforce have increased from 19 to 20 percent since 1980 (while not a staggering increase consider that 1 in 5 men supposedly retired are now working). Women workforce participation has also increased since 1980 from 8 to 12 percent, most likely a reflection of families dealing with one income and mounting debt from the previous 10 years.
With pension plans being eliminated and people in general not saving enough to see them through retirement (now 15 years or more), older men and women will continue to work, possibly into their 70’s. This will have a ripple effect on the workforce as teens and other younger workers will not find summer or part-time jobs in service industries as has been commonplace over the years. The fast food clerk will be “seniors” more like grandma or grandpa instead of high schoolers John or Sue.
Finally, companies that shy away from hiring older employees are losing a valuable resource and they should be pressuring the US Congress to address the idea of universal healthcare. Taking 25 percent of the most experienced available workforce out of circulation simply because they may be a higher health risk is not good business.
TIDBITS: The percentage of US garages that can hold 3 or more cars rose to 18 percent in 2001 from 11 percent in 1992. Did someone say “energy crisis?”
Next, according to a story in USA Today, tobacco use will contribute to the deaths of 1 billion people worldwide by 2100. That’s not since 1900; that will be 21st century deaths! Tobacco accounts for 1 in 5 cancer deaths and when you include cardiovascular and pulmonary diseases, the yearly death toll is nearly 5 million worldwide. It is estimated that 1.25 billion people smoke cigarettes and more than half will die from the habit.
On the other hand, these smokers may be thinking global warming is going to kill most of the world’s population in 5 years, so why not light up and enjoy? Of course, if the global warming scientists are wrong or miscalculated, does anyone have the phone number for the nearest quit smoking clinic?
Finally, a new volume of letters recently released and written by Albert Einstein reveals many extra-marital affairs. No wonder he was so intrigued by relativity!
For example, in 1980, men ages 55 to 59 found 82 percent working while women, same age, were 49 percent. By 2005, the numbers were 78 and 66 percent respectively. More dramatic were the numbers from ages 60 to 64. In 1980, 61 percent of men and 33 percent of women were working. By 2005, the numbers were 58 and 46 respectively.
In essence, companies are “betting” that women are a cheaper workforce, that is less likely to have costly medical needs, lost work time and productivity and possibly less cost in wages.. Companies are forcing men into early retirement and putting women in the uncomfortable role of primary wage earner and “head of household.”
But, the story doesn’t end at this point because the trends reverse after age 65. First, men and women are now eligible for Medicare and other government subsidies such as a prescription plan and social security. Hence, the onus of medical coverage and higher pay is off the businesses’ “back.” Men in the workforce have increased from 19 to 20 percent since 1980 (while not a staggering increase consider that 1 in 5 men supposedly retired are now working). Women workforce participation has also increased since 1980 from 8 to 12 percent, most likely a reflection of families dealing with one income and mounting debt from the previous 10 years.
With pension plans being eliminated and people in general not saving enough to see them through retirement (now 15 years or more), older men and women will continue to work, possibly into their 70’s. This will have a ripple effect on the workforce as teens and other younger workers will not find summer or part-time jobs in service industries as has been commonplace over the years. The fast food clerk will be “seniors” more like grandma or grandpa instead of high schoolers John or Sue.
Finally, companies that shy away from hiring older employees are losing a valuable resource and they should be pressuring the US Congress to address the idea of universal healthcare. Taking 25 percent of the most experienced available workforce out of circulation simply because they may be a higher health risk is not good business.
TIDBITS: The percentage of US garages that can hold 3 or more cars rose to 18 percent in 2001 from 11 percent in 1992. Did someone say “energy crisis?”
Next, according to a story in USA Today, tobacco use will contribute to the deaths of 1 billion people worldwide by 2100. That’s not since 1900; that will be 21st century deaths! Tobacco accounts for 1 in 5 cancer deaths and when you include cardiovascular and pulmonary diseases, the yearly death toll is nearly 5 million worldwide. It is estimated that 1.25 billion people smoke cigarettes and more than half will die from the habit.
On the other hand, these smokers may be thinking global warming is going to kill most of the world’s population in 5 years, so why not light up and enjoy? Of course, if the global warming scientists are wrong or miscalculated, does anyone have the phone number for the nearest quit smoking clinic?
Finally, a new volume of letters recently released and written by Albert Einstein reveals many extra-marital affairs. No wonder he was so intrigued by relativity!
If you can imagine the future, you can invent the future. – Toshiba Advertisement
No comments:
Post a Comment