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Michael Patton Advising: New Study Finds Widespread Job Loss After 50

Thursday, August 15, 2019 @ 12:08 AM

Posted by exploreClarion

Michael Patton - newCLARION, Pa. (EYT) – Michael Patton, of Patton Financial Advising, submitted the following article on New Study Finds Widespread Job Loss After 50:

Research conducted by the Urban Institute suggests that many people with apparently stable positions face a job loss after age 50 with serious financial consequences. (1)

Analyzing data from the University of Michigan Health and Retirement Survey — a long-term survey of Americans ages 51 and older — researchers found that about two-thirds of people in their early 50s who were working in a long-term, full-time job lost their jobs involuntarily before reaching age 65, and then remained unemployed for six months or more or took a pay cut of 50% or more to accept other work. More than half left due to employer-driven issues including layoffs, business closings, or deteriorating work conditions such as reduced hours, pay, or benefits; lack of promotional opportunities; or problems with supervisors or co-workers. (2)

Read the full article here.

Patton Financial Advising
51 1/2 N. 4th Avenue
Clarion, PA 16214
814-226-9400

470 Broad Street
New Bethlehem, PA 16242
814-275-2300

Toll-free 1-877-547-2751

Visit website: www.pattonadvising.com

Securities offered through Cetera Financial Specialists LLC, member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC. Cetera entities are under separate ownership from any other entity.


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