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.
Among U.S. citizens between the ages of 50 and 65, 14% were laid off once in the past 10 years, with 4% being fired more than once, according to a 2025 WSJ analysis of Boston College’s 2012 to 2022 Retirement Study. And of those who experienced layoffs at least once, 24% were not able to find a new job. That group is almost entirely represented by the Gen X cohort of workers, who are aged 45 to 60, and often hold competitive senior roles in the later years of their career.
But having years of industry expertise and a long-standing career doesn’t mean they’re the first-choice candidates for open roles. Older generations often have to look longer to find a gig; Gen Z and millennials aged between 25 and 34 were typically unemployed for an average of 19 weeks, compared to employees aged 55 to 64 who were unemployed for 26 weeks. Even among those Gen Xers who could find a new gig, the analysis notes that 11% were forced to take a pay cut.
There are a few reasons why Gen Xers are having a harder time getting new work after being fired. As one of the oldest generations still largely in the workforce, they’re nearing retirement and are potentially seen as being more temporary compared to millennial and Gen Z workers with decades left in their careers. Plus, with more Americans working longer, there is simply more competition for a select number of senior roles.
