Millions of older workers have lost jobs during the coconut. Prospects have improved

Millions of older workers lost their jobs During the COVID-19 recession.

Between March and April 2020, 5.7 million workers aged 55 and over lost their jobsAccording to the analysis of the Institute of Economic Policy for Federal Data.

Now, five years since the start of the pandemic, some elderly workers can benefit from policies that help them extend their careers.

“We are seeing more and more employers offering benefits and programs that help keep part of this older workforce,” said Carly Roszkowski, vice-president of financial resilience programming in Aarp.

These programs include progressive retirement plans, part -time hours and remote or hybrid work options, said Roszkowski.

Money is always the main reason why people want to stay on the job market longer, especially since inflation has increased prices, according to Roszkowski. But there are also other motivations, including social connections, a sense of objective or significant work that can help inspire individuals to continue working.

More personal finances:
Do you have to wait to claim social security? Here is what experts say
Americans are more worried about lacking money from retirement than to die
Near retirement? These strategies can protect from the volatility of prices

A lasting impact of the pandemic – increased flexibility to work remotely – can help some older workers delay retirement, according to new research From the Center for Research to Boston College.

Research reveals that an individual working at a distance is 1.4 percentage points less likely to retire than a worker in a differently comparable situation.

Based on these results, this could allow workers to extend their careers by almost a full year.

“If they delay social security for this year, or delay excavation in their 401 (K) for this year, or contribute to their 401 (K) for this year, everything will be good for their finances,” said Geoffrey Sanzenbacher, researcher at the Center for Retry for Research and professor of the practice of the Boston College economy.

Whether or not individuals can work remotely comes to the preference of employers. For example, some companies – JPMorgan, AT&T, Amazon and Dell – have spent five -day policies. The federal government, which has a workforce that sneaned more, has also moved to apply working policies in person under President Donald Trump.

Research suggests that elderly workers benefit from remote work. In particular, the employment rate of elderly workers who suffer from a handicap increased by 10% after the pandemic, according to the Center for retirement Research.

Admittedly, all careers cannot allow remote work.

Career experts say that there are certain ways in which elderly workers can help extend the longevity of their years of work.

Older workers are expected to focus on scaling – acquire new skills or increase their current skills – to help show their skills to employers, career expert at Monster said. This can do without certification, online class or volunteer, she said.

It is also essential to have a fundamental and basic understanding of the technological tools used at the workplace, said Kyle MK, talent strategy advisor at Indeed.com.

Elderly workers may also want to show their skills in terms of relationship creation, which can distinguish them from the younger generations who are more digitally inclined, according to Salemi.

Mentorship, conflict resolution or other interpersonal skills are highly sought -after skills that should be highlighted, if possible, said MK.

By keeping the digital profiles up to date on job search sites, older workers can highlight their skills and experience, he said.

“The digital presence is sometimes the very first introduction that the employer will have with you,” said MK.