Alert - Outlook for the Older Freelancer

Pat yourselves on the back, Freelance Writer. You're employed. If you're over 50, give yourself an extra pat on the back as you may have lucked out. 

"I wasn't pleased with the news, either"

It's good news and bad news for the full time freelancer. The Great Recession is over, according to reports I've read today. In fact, it's been over since June 2009.

The National Bureau of Economic Research Website states:

"CAMBRIDGE September 20, 2010 - The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. At its meeting, the committee determined that a trough in business activity occurred in the U.S. economy in June 2009. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion. The recession lasted 18 months, which makes it the longest of any recession since World War II. Previously the longest postwar recessions were those of 1973-75 and 1981-82, both of which lasted 16 months."     Read the full report.

The bad news for all those freelancers over 50 is that you may never find another job, and if you do, it probably won't pay as much as the job you were downsized from. According to the New York Times:

"After other recent downturns, older people who lost jobs fretted about how long it would take to return to the work force and worried that they might never recover their former incomes. But today, because it will take years to absorb the giant pool of unemployed at the economy’s recent pace, many of these older people may simply age out of the labor force before their luck changes." Read the rest of this very interesting article.

If you're over 50, reach for the notebook and keep plugging away. You always wanted to retire early and write, and it looks like you're getting what you wished for. 






All written content ©2010 Patrice Campbell unless otherwise noted.