If you're a white, middle-aged college educated male and want to be depressed, read Newsweek's Dead Suit Walking. It makes many of the "end of men" articles (including ours) look downright upbeat about the prospect for men in today's economy.
The article outlines data showing that middle-aged white men are not faring well these days, especially when it comes to jobs. Key quote:
"Through the first quarter of 2011, nearly 600,000 college-educated white men ages 35 to 64 were unemployed, according to previously unpublished Labor Department stats. That’s more than 5 percent jobless—double the group’s pre-recession rate. That might not sound bad compared with the plight of younger, less-educated workers and minorities, but it’s a historic change from the last recession, when about half as many lost their oxford shirts."
The article goes on to discuss the psychic toll of the Mancession, which includes increased rates of depression, lower sex drive, damaged families, higher divorce rates, financial problems, stressed kids, etc.
The article blames automation and international competition for the job losses and is not optimistic about unemployed middle-aged men finding work. Key quote:
"Once college-educated workers hit 45, notes a post on the professional-finance blog Calculated Risk, “if they lose their job, they are toast.”
Whether or not you agree that the problem is as big as this article claims (I think it overstates the problem), it highlights a key reason we believe small business formation will continue to increase - especially for aging baby boomers.
Corporate careers simply aren't safe anymore. Because of this, more people will turn to small business and self-employment by choice or necessity.
Yup that's Me at 55 now and must make my own way.
Fortunately I am super healthy and can go anywhere with that.
What is exploding and making me money is working online and offline from a home based business.
That did not come easily though.
4 years into it and should see my first 6 figures in the next year or so.
This is where the money is folks and the world is coming online in hordes.
Posted by: Nicholas Wind | April 26, 2011 at 09:48 AM