Age bias is alive and well

BOSTON (MarketWatch) -- I used to think wisdom was wasted on the aged.
Then I came to believe youth is wasted on the young. Now I realize it
doesn't have to be that way. Consider Tom Watson and Lance Armstrong:
Two grizzled veterans in their respective fields who showed the world
you can be both youthful and wise at the same time. What's more, they
showed the world that older folks can and still do make contributions
in the workplace.

That's a good message for all employers, especially since ageism still
exists in corporate America, and perhaps corporate Earth. Consider, for
instance, these recent factoids:

The number of age discrimination claims is on the rise. According to
2008 statistics from the U.S. Equal Employment Opportunity Commission,
24,852 age-related discrimination claims were filed in 2008, accounting
for about 26% of all complaints. By comparison, about 36% of all claims
were based on race and 30% were based on sex.

The number of age-related discrimination claims is up 30% from 2007.
And at a recent EEOC hearing, advocates said the government should do
more to protect older workers from age bias. For whatever reason, older
workers can't seem to shake the stereotype that they can't adapt to
change and that they're more expensive than younger employees. Learn more at the EEOC site.

Meanwhile, the unemployment rate for older workers continues to rise,
even faster than it does for younger workers. It rose 4.4% in June,
compared with an increase of just 1% for younger workers, according to
published reports. Learn more at the Labor Department's Web site.

We could, of course, go on and on about the woes faced by older
workers. I just met, for instance, a man who worked for a food company
for 19 years before being laid off. Today, he's driving a limousine. At
least it's a job.

Speaking of jobs, if you're laid off and looking, there are plenty of
Web sites worth visiting, but two in particular are worth noting: RetirementJobs.com and RetiredBrains.com.

And if you want to learn more the current state of affairs for older
workers check out the Sloan Center on Aging & Work at Boston
College. That center just re-launched its Web site, which features
among other things its newsletter Stages and a riff on phased
retirement. Visit the site.

Another site worth visiting: This blog post by Roger Wohlner, a
financial adviser. It's his take on the characteristics of a good
401(k) plan. Visit the site.

Robert Powell is the editor of Retirement Weekly.
Learn more about Retirement Weekly here.

Robert Powell has been a
journalist covering personal finance issues for more than 20 years,
writing and editing for publications such as The Wall Street Journal,
the Financial Times, and Mutual Fund Market News.