A quarter of young Boomers and Gen Xers who’ve been laid off in the last decade are still unemployed—and 11% have taken pay cuts to work

Older worker sad at laptop (Credit: sankai / Getty Images)

• Nearly 25% of older Gen X and young boomer workers who have been laid off in the past decade haven’t been able to find a new job since. About 11% are so desperate to land work they’ve even taken a pay cut. More than any other generation, Gen Xers are finding themselves overlooked, underpaid, and edged out—just as their personal financial pressures are hitting a peak.

Americans want to work longer to support themselves as the cost of living climbs and 401(k) benefits are further delayed, but many older Gen X workers and young boomers are being forced into retirement after being laid off with no jobs to turn to.