The Hidden Crisis: Gen X Facing Unemployment and Job Search Bias in a Post-Pandemic Economy
Over the last three years, the global labour market has faced significant upheavals, with many sectors adjusting to the economic realities of a post-pandemic world. Among those most affected by these shifts is Generation X, the cohort born between 1965 and 1980. Often overlooked in discussions about job displacement and unemployment, Gen X professionals are facing an employment crisis that reflects a broader societal bias—one that hinders their ability to re-enter the workforce, particularly in white-collar roles.
Silent Wave of Job Losses
While much of the media spotlight has been on younger generations like Millennials and Gen Z, who have their own set of economic challenges, Gen X workers are encountering their own battle. According to a Mercer report from 2022, over 55% of organizations are either downsizing or restructuring, with mid-level and senior professionals disproportionately affected. In particular, seasoned professionals in management, IT, finance, and operations have been at the receiving end of company-wide layoffs as businesses seek to streamline operations.
A Gartner report from 2023 further supports this, highlighting that automation and digital transformation initiatives have led to more than 30% of mid-career white-collar professionals being displaced in favour of younger, more “digitally native” employees. While this can lead to increased efficiency, it often leaves Gen X professionals without clear pathways to re-enter the job market.
The Bias Against Older Workers
In addition to job loss, many Gen X professionals face an uphill battle when it comes to securing interviews. The unfortunate truth is that ageism in hiring is pervasive. A McKinsey study reveals that nearly 40% of workers over 45 report difficulty in securing interviews, even for roles where they meet all the qualifications. This is due, in part, to biases—both conscious and unconscious—that younger, more tech-savvy employees may be better suited to the “new economy.”
CIPD research from 2023 indicates that age discrimination has risen markedly since the pandemic, particularly for roles in high-growth industries such as technology and healthcare. Their findings show that while younger workers are being prioritized for reskilling initiatives, older professionals are often overlooked, reinforcing a bias that Gen X workers are less adaptable or less innovative—a perception that is rarely grounded in reality.
The Impact of Underemployment
For those lucky enough to secure employment, underemployment is a growing concern. Many Gen X professionals are taking roles below their skill level, often in freelance or gig work, to make ends meet. This comes at a psychological and financial cost. According to Gartner, more than 45% of displaced Gen X workers report a significant reduction in income post-layoff, with many having to tap into retirement savings early, reducing their financial security.
Moreover, a McKinsey survey from 2023 notes that over 60% of workers aged 45-55 feel they are underemployed in their new roles, working part-time or on a contract basis without the same level of benefits or job security they once enjoyed. This trend of "hidden unemployment" creates long-term challenges for both employees and the broader economy.
Tapping into a Resilient Talent Pool
At C. Graham Consulting, ( www.cgrahamconsulting.com), we specialize in connecting organizations with the skilled, adaptable professionals that Gen X represents. We understand the unique challenges facing mid-career talent in today's labour market—whether it's overcoming biases or navigating industries in flux. Our executive search process is tailored to help companies tap into this experienced talent pool, ensuring that they are not missing out on seasoned leaders who bring a wealth of knowledge, experience, and a proven ability to adapt and thrive in challenging environments.
By partnering with organizations to eliminate bias from hiring practices and create inclusive talent acquisition strategies, we help businesses secure the leaders they need for sustainable success. For Gen X professionals, we offer personalized support to navigate this evolving landscape, empowering them to find roles that match their skillset and aspirations.
At a time when many companies are struggling to find qualified, experienced leaders, we believe the key to success lies in recognizing the untapped potential of Gen X professionals.
What Can Be Done?
Addressing this issue requires a multi-faceted approach. First, organizations must acknowledge and actively combat age bias in hiring and promotion processes. Leveraging Gartner's suggestion, companies should implement blind recruitment processes and focus on skills rather than assumptions based on age. This can help level the playing field and ensure that qualified candidates, regardless of age, are considered for open roles.
Second, the CIPD recommends that organizations make reskilling and upskilling programs accessible to all workers, not just younger employees. By investing in digital training programs for mid-career professionals, businesses can ensure their Gen X employees are as equipped as their younger counterparts to navigate the evolving landscape.
Finally, policy changes at the governmental level could encourage businesses to provide incentives for hiring older workers, similar to those available for younger employees or recent graduates. For example, a Mercer report from 2023 advocates for the inclusion of age diversity metrics in diversity, equity, and inclusion (DEI) initiatives—a move that could help shift organizational focus.
The last three years have been challenging for many sectors of the workforce, but for Gen X, the challenges of re-employment and the spectre of ageism loom large. At C. Graham Consulting, we’re committed to bridging the gap between Gen X talent and forward-thinking organizations that value their deep experience, leadership, and adaptability. By confronting these biases and investing in this generation, businesses will not only build a more inclusive workforce but also tap into the deep well of talent and expertise that Gen X represents—key assets for any organization looking to thrive in a competitive marketplace.
.png)
Comments