Thanks Seb for putting on a great do last night at Blue Chilli's office opening. More on that next week.
Again, mixing in with a bunch of very interesting people, a thought occured to me regarding the true number of people unemployed in Australia that are over 50. How real is the figure?
Frankly, I don't presently know, but I strongly suspect what ever the Australian Bureau of Statistics (ABS) tells us is most likely waaaay out. Why? Here's my reasoning...
1. Most professional over 50's will have amassed a certain amount of assets, goods, chattels etc, and hopefully some cash/superannuation (401K for our US readers). When applying for unemployment benefits here, you have to have your assests assessed before you can succesfully get the benefit. This level is not a huge amount, and you have to fully use up any termination payment or any other declared benefit before you can claim.
2. The process of applying for the payment is long, tiresome and in my own personal experience a very big hit on the self esteem meter.
3. You then have to undertake a constant "activity test" to ensure ongoing payment, and if you are offered a job (any job), whether you like it or not, you have to take it, or lose the benefit.
Certainly for me, and a number of professionals I've met in recent years, these "tests" and the very demeaning nature of applying for unemployment benefits ensures many of us never turn up to make the claim. Other than a small percentage of totally lazy people, once you've tried to get unemployment benefits, you will truly believe that the vast majority of people that are on them, are their through no choice of their own, and would dearly love to have paid, meaningful work.
I rang the ABS today to find out because I'm unable to find the age breakdown for the moment, the very nice person on the phone tells me it does exist, and will send it to me. When I get it, I'll post it and I'd be pleased to hear your opinion on how true that number might be.
Have a great weekend to all.
Dom
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