{"id":3571,"date":"2014-02-06T04:00:32","date_gmt":"2014-02-06T08:00:32","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=3571"},"modified":"2014-02-04T01:35:42","modified_gmt":"2014-02-04T05:35:42","slug":"state-of-the-union-and-older-americans-kerrys-expert-advice-on-next-avenue","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=3571","title":{"rendered":"State of the Union and Older Americans: Kerry&#8217;s Expert Advice on Next Avenue"},"content":{"rendered":"<p><a href=\"https:\/\/kerryhannon.com\/?attachment_id=1871\" rel=\"attachment wp-att-1871\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1871\" data-permalink=\"https:\/\/kerryhannon.com\/?attachment_id=1871\" data-orig-file=\"https:\/\/i0.wp.com\/kerryhannon.com\/wp-content\/uploads\/2012\/06\/NextAvenue_logo.jpg?fit=160%2C160&amp;ssl=1\" data-orig-size=\"160,160\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"NextAvenue_logo\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/kerryhannon.com\/wp-content\/uploads\/2012\/06\/NextAvenue_logo.jpg?fit=160%2C160&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/kerryhannon.com\/wp-content\/uploads\/2012\/06\/NextAvenue_logo.jpg?fit=160%2C160&amp;ssl=1\" class=\"alignleft size-full wp-image-1871\" alt=\"NextAvenue_logo\" src=\"https:\/\/i0.wp.com\/kerryhannon.com\/wp-content\/uploads\/2012\/06\/NextAvenue_logo.jpg?resize=160%2C160&#038;ssl=1\" width=\"160\" height=\"160\" srcset=\"https:\/\/i0.wp.com\/kerryhannon.com\/wp-content\/uploads\/2012\/06\/NextAvenue_logo.jpg?w=160&amp;ssl=1 160w, https:\/\/i0.wp.com\/kerryhannon.com\/wp-content\/uploads\/2012\/06\/NextAvenue_logo.jpg?resize=150%2C150&amp;ssl=1 150w\" sizes=\"auto, (max-width: 160px) 100vw, 160px\" \/><\/a>Pundits are saying President Obama\u2019s State of the Union focused on small-bore ideas. But for older Americans looking for help from Washington to find work or to save for retirement, I\u2019d say it was more like small beer.<\/p>\n<p>Below are the key proposals from the speech plus views about them from experts I\u2019ve consulted and me:<\/p>\n<p><strong>The Long-Term Unemployed<\/strong><\/p>\n<p>Roughly 3.9 million Americans have been out of work for more than six months \u2014 the long-term unemployed. They make up about 38 percent of all unemployed people in the U.S. (about the same as in 2012) and half of the long-term unemployed are over 50. According to AARP, it takes unemployed people over 50 about a year to find a new job, which is almost twice as long as people under 50.<\/p>\n<p>(<strong>MORE<\/strong>:\u00a0<a href=\"http:\/\/www.nextavenue.org\/article\/2013-11\/programs-and-tips-help-long-term-unemployed\" target=\"_blank\">Programs to Help the Long-Term Unemployed<\/a>)<\/p>\n<p>Obama\u2019s key proposals:<\/p>\n<p><strong>He\u2019s getting CEOs at major corporations such as AT&amp;T, Procter &amp; Gamble and Xerox to sign a pledge saying they won\u2019t refuse to hire people just because they\u2019re unemployed.<\/strong>President Obama says the pledge would \u201cgive more unemployed workers a fair shot\u201d at a new job. That\u2019s beause some firms continue to discriminate against out-of-work job applicants. A recent Northeastern University study found that employers would rather call back applicants with no relevant experience who\u2019ve been out of work a few months than those with more relevant experience unemployed for more than six months.<\/p>\n<p>Firms signing the pledge will, among other things: commit to ensure that advertising doesn\u2019t discourage or discriminate against the unemployed; review screens used in hiring so they don\u2019t disadvantage individuals from being considered for jobs based solely on their unemployment status and interview qualified long-term unemployed individuals.<\/p>\n<p>I agree with AARP CEO A. Barry Rand who said \u201casking the business community to hire the long-term unemployed takes an important first step.\u201d (Though I\u2019d note that the word \u201csolely\u201d in the pledge is a huge loophole).<\/p>\n<p>(<strong>MORE<\/strong>:\u00a0<a href=\"http:\/\/www.nextavenue.org\/blog\/must-see-film-being-over-50-and-out-work\" target=\"_blank\">A Must-See Film for Being Over 50 and Out of Work<\/a>)<\/p>\n<p>I\u2019m hoping that\u00a0<em>all<\/em>\u00a0firms will follow the\u00a0<a href=\"http:\/\/www.shrm.org\/hrdisciplines\/staffingmanagement\/Articles\/Pages\/Hiring-Long-Term-Unemployed.aspx\" target=\"_blank\">new guidelines<\/a>\u00a0for HR professionals just spelled out by the Society for Human Resource Management (SHRM), the largest HR association in the world.<\/p>\n<p>Among them: When reviewing job applications and crafting job advertisements, focus on the knowledge, skills and abilities you seek for the position. Do\u00a0<em>not<\/em>\u00a0assume candidates are overqualified. Recognize nontangible skills the long-term unemployed may possess, such as drive, loyalty, a desire to succeed and a sense of purpose. Ensure that qualified candidates get an opportunity to explain any gaps in employment.<\/p>\n<p><strong>The administration will help community colleges partner with businesses so the schools offer classes and training programs to match skills that are needed.\u00a0<\/strong>That\u2019s a recommendation heartily endorsed by my Next Avenue colleague, Kerry Hannon (author of<a href=\"http:\/\/www.amazon.com\/Great-Jobs-Everyone-50-Finding\/dp\/1118203682\" target=\"_blank\"><em>Great Jobs for Everyone 50+<\/em><\/a>). I\u2019m with her.<\/p>\n<p>(<strong>MORE<\/strong>:\u00a0<a href=\"http:\/\/www.nextavenue.org\/blog\/how-get-long-term-unemployed-back-work\" target=\"_blank\">How to Get the Long-Term Unemployed Back to Work<\/a>)<\/p>\n<p><strong>He wants to extend emergency unemployment insurance benefits.\u00a0<\/strong>Congress, of course, failed to renew benefits that expired for 1.5 million jobless Americans at the end of 2013. Susan Sipprelle, writer and producer of the excellent documentary about unemployed Americans over 50,\u00a0<a href=\"http:\/\/www.overfiftyandoutofwork.com\/videos\/documentary\" target=\"_blank\"><em>Set For Life<\/em><\/a>, tells me she thinks extending unemployment benefits is &#8220;a fine short-run solution,&#8221; but &#8220;for the long term, we must improve education and create more jobs.&#8221;<\/p>\n<p>Personally, I\u2019m dubious that the legislators will reverse course in 2014.<\/p>\n<p><strong>What Obama Didn\u2019t Say<\/strong><\/p>\n<p>Elizabeth Isele, a serial entrepreneur and co-founder of the nonprofit\u00a0<a href=\"http:\/\/www.seniorentrepreneurshipworks.org\/about.php\" target=\"_blank\">Senior Entrepreneurship Works<\/a>, told me she didn\u2019t feel the president went nearly far enough to help older unemployed Americans \u2014 particularly those who want to start businesses.<\/p>\n<p>Among the programs and policies she wishes Obama had announced:<\/p>\n<ul>\n<li>A national initiative for long-term unemployed seniors with little chance of rehire to use their unemployment benefits to capitalize a business startup without penalty<\/li>\n<li>Entrepreneurship initiatives reaching out to people 50+<\/li>\n<li>Actions to mitigate obstacles senior entrepreneurs face, such as age bias from lenders<\/li>\n<li>Tax incentives for seniors starting businesses and for private investors willing to finance their startups<\/li>\n<\/ul>\n<p><strong>Obama&#8217;s Retirement Proposal<\/strong><\/p>\n<p>Obama\u2019s big idea to help address the nation\u2019s retirement crisis, the so-called \u201c<em>my<\/em>RA,\u201d is intriguing \u2014 but it\u2019s really aimed at younger employees, not the older work force.<\/p>\n<p>The\u00a0<em>my<\/em>RA would be a starter savings account offered through employers who don\u2019t currently offer retirement plans. It\u2019s a cross between a Roth IRA and a tax-deferred 401(k), but invested only in U.S. savings bonds. You couldn\u2019t cash out before retirement without paying a tax penalty, unless you roll over the money to an ordinary IRA.<\/p>\n<p>President Obama said it \u201cguarantees a decent return with no risk of losing what you put in.\u201d While technically true, you could earn less than inflation, which \u2014 as economists note \u2014 would be a loss.<\/p>\n<p>According to The Wall Street Journal, the Treasury Department is expected to encourage employers to offer\u00a0<em>myRA<\/em>s to employees who\u2019d be automatically enrolled unless they opted out.<\/p>\n<p>What\u00a0<em>myRA<\/em>s wouldn\u2019t have, however, is an employer match, and that\u2019s a shame. Many employers with 401(k) plans kick in money when their employees contribute. Those matches go a long way in helping people potentially amass healthy-sized retirement funds.<\/p>\n<p>In a year from now, let\u2019s see which of these proposals \u2014 if any\u2014 made a difference.<\/p>\n<p>By\u00a0<a href=\"http:\/\/www.nextavenue.org\/staff\/richard-eisenberg-1\">Richard Eisenberg<\/a><\/p>\n<p>Richard Eisenberg is the senior Web editor of the Money &amp; Security and Work &amp; Purpose channels of Next Avenue and Assistant Managing Editor for the site. Follow him on Twitter<a href=\"http:\/\/twitter.com\/richeis315\" target=\"_blank\">@richeis315<\/a>.<\/p>\n<p><a href=\"http:\/\/www.nextavenue.org\/blog\/state-union-and-older-americans\"><em><strong>Read the original article here<\/strong><\/em><\/a><\/p>\n<div style=\"padding-bottom:20px; padding-top:10px;\" class=\"hupso-share-buttons\"><!-- Hupso Share Buttons - http:\/\/www.hupso.com\/share\/ --><a class=\"hupso_toolbar\" href=\"http:\/\/www.hupso.com\/share\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/static.hupso.com\/share\/buttons\/share-small.png?w=640&#038;ssl=1\" style=\"border:0px; padding-top:5px; float:left;\" alt=\"Share Button\"\/><\/a><script type=\"text\/javascript\">var hupso_services_t=new Array(\"Twitter\",\"Facebook\",\"Google Plus\",\"Pinterest\",\"Linkedin\",\"StumbleUpon\",\"Digg\",\"Reddit\",\"Bebo\",\"Delicious\");var hupso_background_t=\"#EAF4FF\";var hupso_border_t=\"#66CCFF\";var hupso_toolbar_size_t=\"small\";var hupso_image_folder_url = \"\";var hupso_url_t=\"\";var hupso_title_t=\"State of the Union and Older Americans: Kerry&#039;s Expert Advice on Next Avenue\";<\/script><script type=\"text\/javascript\" src=\"https:\/\/static.hupso.com\/share\/js\/share_toolbar.js\"><\/script><!-- Hupso Share Buttons --><\/div>","protected":false},"excerpt":{"rendered":"<p>Pundits are saying President Obama\u2019s State of the Union focused on small-bore ideas. But for older Americans looking for help from Washington to find work or to save for retirement, I\u2019d say it was more like small beer. Below are the key proposals from the speech plus views about them from experts I\u2019ve consulted and [&hellip;]<\/p>\n<div style=\"padding-bottom:20px; padding-top:10px;\" class=\"hupso-share-buttons\"><!-- Hupso Share Buttons - http:\/\/www.hupso.com\/share\/ --><a class=\"hupso_toolbar\" href=\"http:\/\/www.hupso.com\/share\/\"><img src=\"https:\/\/static.hupso.com\/share\/buttons\/share-small.png\" style=\"border:0px; padding-top:5px; float:left;\" alt=\"Share Button\"\/><\/a><script type=\"text\/javascript\">var hupso_services_t=new Array(\"Twitter\",\"Facebook\",\"Google Plus\",\"Pinterest\",\"Linkedin\",\"StumbleUpon\",\"Digg\",\"Reddit\",\"Bebo\",\"Delicious\");var hupso_background_t=\"#EAF4FF\";var hupso_border_t=\"#66CCFF\";var hupso_toolbar_size_t=\"small\";var hupso_image_folder_url = \"\";var hupso_url_t=\"\";var hupso_title_t=\"State of the Union and Older Americans: Kerry&#039;s Expert Advice on Next Avenue\";<\/script><script type=\"text\/javascript\" src=\"https:\/\/static.hupso.com\/share\/js\/share_toolbar.js\"><\/script><!-- Hupso Share Buttons --><\/div>","protected":false},"author":2,"featured_media":1871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[59,45,36,29,72,62,95,9,229,16],"tags":[350,345,111,340,239,134,261,61,333,230,236],"class_list":["post-3571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-careers","category-college","category-entrepreneur","category-finances","category-kerry-in-the-news","category-next-avenue","category-older-workers-2","category-retirement","category-unemployment","category-working-after-retirement","tag-careers","tag-college","tag-entrepreneur-2","tag-finances","tag-kerry-in-the-news-2","tag-next-avenue-2","tag-obama","tag-older-workers","tag-retirement","tag-unemployment-2","tag-working-after-retirement-2"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/kerryhannon.com\/wp-content\/uploads\/2012\/06\/NextAvenue_logo.jpg?fit=160%2C160&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p3YFQS-VB","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/posts\/3571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3571"}],"version-history":[{"count":3,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/posts\/3571\/revisions"}],"predecessor-version":[{"id":3574,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/posts\/3571\/revisions\/3574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=\/wp\/v2\/media\/1871"}],"wp:attachment":[{"href":"https:\/\/kerryhannon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kerryhannon.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}