It marks a record low since the surveys started tracking the data back in 2013, and the report notes that several demographics are driving rock-bottom employment expectations.
“Generally, workers are anxious about job security as they see prominent layoffs in the headlines and hear from their laid-off friends who are having trouble getting back into work,” Zhao explains.
“Even workers who are currently employed feel stuck in their jobs as the current job market limits their ability to find a better job and leverage to get a raise or promotion internally.”
Americans ages 60 and older have a perceived probability of only 33% in finding a new job if they have lost their current role—almost 10% lower than the national average. However, AI automation likely isn’t the culprit of their employment demise. The Glassdoor chief economist points to the fact that baby boomers are on the brink of retirement, and are being waved aside for opportunities based on their age.
Workers age 65 and older have seen labor force participation, employment, and unemployment all decline, but some of this may be the result of workers aging out of being able to work rather than a reflection of their financial situation, Zhao says.
Even more eyebrow-raising is the fact that they are not paid for their worth: Around 49% of older staffers said they make less money than their Gen Z and young millennial colleagues for doing the same job.
