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Unemployed older tech workers face rising job-loss risk as layoffs spread
The Center for Retirement Research says income typically falls 42% in older households when one worker leaves the job market early.
A Yahoo Finance feature highlights how shifting tech industry dynamics, including job cuts tied to companies' AI investments, have left older displaced workers struggling to find new roles. The article notes that job losses in 2026 have occurred at major tech companies even as the broader economy added jobs.
The story points to research from the Center for Retirement Research showing that job losses tend to increase with age. It also says income typically declines by 42% in an older household when one worker is forced out of the job market early.
For a 57-year-old example worker who has been unemployed for six months, the article emphasizes actions to stabilize finances during extended job searches. It cites guidance from Carnegie Private Wealth's Mary Ware, a CFP, urging people to inventory remaining income and expenses and identify ways to close the gap, such as cutting spending or taking gigs or part-time work.
The piece also says workers in most states can be eligible for up to 26 weeks of unemployment benefits, suggesting some workers may be nearing the end of their coverage. It recommends considering options like lender forbearance discussions, applying for government benefits, and exploring steps to avoid missed payments or debt while continuing the job search.