LH Mikl-Leitner: The region is an important job driver in the Mostviertel
St. Pölten (OTS) – This Saturday morning, the newly designed commercial street in the market town of St. Georgen am Ybbsfelde (Amstetten district) was officially opened by State Governor Johanna Mikl-Leitner. Today and tomorrow, Sunday, local businesses can present their offerings and present their business premises at a large trade festival along the new trade route. The celebration was accompanied by musical performances by the traditional costume band. The blessing was carried out by Father Lorenz Pfaffenhuber.
“This new street is symbolic of the strong economy in the Mostviertel and for this prosperous region,” said Mikl-Leitner, who also emphasized: “The Mostviertel is a job engine with its very large companies such as Umdasch, Mondi, Voestalpine and Müller-Gutenberg. Particularly noteworthy today are the around 50 companies “that have found their new home here on this commercial street,” she said, recalling the Günther installation company, the car dealers, solar and heating technology companies, Würth and Vegi-meet . These businesses would ensure increasing local tax revenue and thus community life, associations and social life would be on even better footing. Investments in the school location and in the St. Georgen am Ybbsfelde kindergarten location are easier due to the increasing income.
Mayor Christoph Haselsteiner said: “The best possible framework conditions and very good transport connections make a significant contribution to successful economic development in the market town of St. Georgen am Ybbsfelde.”
The starting signal for the road construction project in the Hart-Ost operating area was given in May 2021. During the two-year planning and construction phase, the streets in need of renovation in the commercial street area were renewed and many sections redesigned. In the eastern area, new access roads to the newly established companies within the industrial area were created. In the future, space will also be made available to all other businesses in the community who are not based in this area.
Questions & Contact:
Office of the Lower Austrian State Government
State Office Directorate/Public Relations
Ing. Mag. John Seiter
02742/9005-12174
[email protected]
www.noe.gv.at/presse
https://www.worldysnews.com/commercial-street-in-st-georgen-am-ybbsfelde-ceremoniously-opened-2024-04-14-223302/
Retiring Retirement: The Growing Trend of Working Well Past Retirement Age
New York Times Report
Source: CNN
The Story of Hope Murray
Hope Murray, a retiree since 2013, had a diverse career spanning various industries. From producing game shows to planning Hollywood parties to working in a casino, she had seen it all.
After retiring, Murray enjoyed a leisurely life in her San Diego community, engaging in activities like golf, game nights, and pickleball, with her daughter living close by.
However, as expenses started to rise, with gas prices soaring and medication costs piling up, Murray had to make adjustments. She downsized, reduced her driving, and cut back on expenses wherever possible.
Despite these efforts, Murray found it challenging to afford some essential medications, prompting her to re-enter the workforce at the age of 80, taking a job at Costco distributing samples.
Challenges and Observations
Murray shared her experience of working at Costco, where she observed the diverse behaviors of shoppers, from those dressed to the nines to others in pajamas. Her paycheck of $18 an hour helped cover her expenses, although she had hoped to save the money.
Uncertain about when she can retire again, Murray's situation reflects a growing trend among older Americans rejoining the workforce. According to the Pew Research Center, the number of Americans over 75 in the workforce has quadrupled since 1964 and is expected to double in the next decade.
Reasons for Working Longer
There are several factors contributing to the trend of older Americans working later in life. Increased life expectancy and better health outcomes play a significant role, allowing individuals to remain active in the workforce.
Additionally, the nature of work has evolved, with more people engaged in desk jobs that require less physical exertion, making it feasible for older individuals to continue working.
The Changing Landscape of Retirement
Gal Wettstein, a senior research economist at the Center for Retirement Research at Boston College, highlighted the impact of technological advancements on the ability of older Americans to continue working. He emphasized that tools like Zoom and the rise of remote work post-pandemic have made it more feasible for seniors to stay in the workforce.
Diverse Workforce Challenges
Monique Morrissey, a senior economist specializing in retirement security at the Economic Policy Institute, pointed out that while some older individuals may opt for desk jobs or remote work, a significant portion still engage in physically demanding occupations. Approximately 50% of older workers are in roles that require physical labor, indicating a diverse range of challenges faced by seniors in the workforce.
Financial Pressures and Retirement
For many older adults, the decision to work beyond traditional retirement age stems from financial constraints. The need to secure income for basic necessities like housing often drives individuals to continue working well into their golden years.
Social Security Concerns
Despite Social Security payments being a primary income source for a large segment of older adults, the trust fund supporting these benefits is projected to be depleted by the mid-2030s. This impending shortfall raises concerns about the sustainability of retirement benefits and calls for urgent policy interventions to address the issue.
Evolution of Retirement Plans
The shift away from traditional pension plans towards 401(k) accounts has reshaped retirement planning for many workers. While defined-benefit plans were prevalent in the past, only a small percentage of private sector employees now have access to them. The prevalence of 401(k) accounts has increased, but utilization rates remain suboptimal, indicating gaps in retirement preparedness.
Personal Experiences
Heidi Brockway’s story exemplifies the challenges faced by retirees in navigating financial uncertainties. Despite having a pension from her previous career, she found it insufficient to sustain her retirement. Her struggle to secure employment post-retirement underscores the complexities individuals encounter when transitioning from work to retirement.
Overcoming Age Discrimination in the Workplace
After facing challenges in Los Angeles, a woman decided to move to Southeast Florida in search of better job opportunities. This decision led her to a job as an aide at a preschool after 11 months of searching.
Despite taking on a role that involved cleaning and maintenance tasks for a lower wage than her previous job as an early education teacher, she expressed gratitude for being employed and able to afford groceries.
The Employment Landscape for Older Workers
Unemployment rates in the US are at historic lows, but older workers often struggle to find employment. While certain demographics benefit from the strong job market, older workers are left behind due to factors like job stability and educational background.
Many older workers end up in jobs with reduced salaries and benefits, highlighting the challenges they face in the current employment landscape.
Legal Protections Against Age Discrimination
Despite laws like the Age Discrimination in Employment Act (ADEA) that prohibit age discrimination in the workplace, older job seekers still face hurdles in proving discriminatory practices during the hiring process.
A recent survey by AARP revealed that a significant percentage of older adults believe ageism is prevalent in the workplace, indicating a widespread perception of discrimination against older workers.
Personal Experiences of Age Discrimination
Individuals like Bob Vaughn, a 65-year-old IT consultant, have encountered age discrimination during their job search. Despite his experience and qualifications, Vaughn faced repeated rejections based on his age.
Research studies have shown that older job applicants receive fewer callbacks compared to younger applicants, highlighting the systemic issue of age discrimination in hiring practices.
Overall, the challenges faced by older workers in the job market underscore the need for continued efforts to combat ageism and promote equal opportunities for all individuals, regardless of age.
Challenges Faced by Older Workers in Today's Job Market
“It might be ageism, just an aversion to hiring older people,” expressed Wettstein. “Some of it might be more ‘rational’ in the sense that employers might be worried that older workers wouldn’t be as productive or wouldn’t be as profitable.”
The Productivity Myth
The Center for Retirement Research has found no evidence that older workers are less productive overall. However, they did discover that older workers tend to have higher earnings expectations and face higher healthcare costs, making them more expensive for employers.
A Personal Story of Financial Struggles
Vaughn and Mary Susan met in high school but only connected romantically at their 15-year reunion. Over their 31 years of marriage, they navigated raising children, supporting grandchildren, and caring for their parents in retirement. Despite the financial strain, they managed to stay afloat through Bob’s job and Mary Susan’s work as an artist and blogger.
When Vaughn lost his job in 2022, they had to sell their home and downsize to an apartment near family. Their dream of building a home on land they owned had to be put on hold due to financial constraints.
Unexpected Financial Challenges
The couple found themselves struggling to afford rent and storage costs in their new apartment, which exceeded the expenses of their previous mortgage. They were caught off guard by rising interest rates and inflation, forcing them to reevaluate their plans.
Despite the setbacks, they remain determined to build their home, opting to take on the construction themselves to save money.
The Job Search Struggles of Older Workers
Diane Reiter, a 72-year-old seeking employment, shared her frustrations about limited job options due to memory challenges. After a career running book fairs and working in accounts payable, she now faces difficulties finding a suitable job.
“I never thought I’d be in the position where I couldn’t retire,” expressed Reiter. “This is just unfortunate.”
Courtesy Diane Reiter
Diane Reiter poses with a painting she created in her Chicago home.
The Changing Landscape of Workplaces
As the workforce ages and more people find themselves needing to work longer to support themselves, workplaces must evolve to accommodate the needs of older workers. The World Economic Forum emphasizes the importance of adapting to this demographic shift by prioritizing worker health and wellness, investing in retraining programs, and creating new models of hybrid work that facilitate the transition to retirement.
The Role of Public Awareness
According to a recent report by researchers at the Brookings Institution, simply raising awareness about the challenges faced by older workers is not enough. There is a need for political and employer support to launch a comprehensive public education campaign that highlights the value of older workers in the workforce.
Personal Stories of Adaptation
One example of successful adaptation is Reiter, who has found support from her children and grandchildren as she navigates the changing landscape of work. In addition to family support, she has also discovered a newfound passion for painting, which has provided her with fulfillment. However, like many older workers, she faces financial challenges and the uncertainty of the future.
Looking Towards the Future
As the workforce continues to age, it is crucial for workplaces to proactively address the needs of older workers. By implementing policies that support health and wellness, offering opportunities for retraining, and creating a supportive environment for older employees, organizations can ensure a smooth transition for all workers, regardless of age.
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Retiring Retirement: The Growing Trend of Working Well Past Retirement Age
Giant AI Use Support Project Launched to Boost Innovation and Efficiency
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On the 15th, the President’s Digital Platform Government Committee and the Ministry of Science and ICT launched the ‘Giant AI Use Support Project’ to help government ministries, public institutions, local governments, and private companies to use the super large artificial intelligence (AI) is free. ) platform.
This year’s project will invest a budget (KRW 11 billion), which is more than five times larger than last year’s (KRW 2 billion), considering the growing interest and need for the introduction of super AI. This time, we are developing a ‘platform deployment support project’ that matches supply companies with large AI platforms with organizations or demand companies to support consulting, PoC (technology verification), and usage fees, and innovative services for administrative efficiency and social solution It is classified as a ‘service development support project’ which helps.
Unlike last year, when only four companies (Naver, KT, Maum AI, and Vibe Company) were selected for the platform use support project worth a total of KRW 2.7 billion, this year’s participation conditions are relaxed, including no limitation on the number of supplier companies selected, allowing small and medium-sized businesses to participate. The service development support project is worth a total of KRW 7.7 billion and is conducted in a way that requires organizations and companies to submit ideas and implementation and implementation plans and support development companies that can implement them.
The government plans to hold a business information session at the main building of Dongguk University on the 18th for organizations and companies interested in this project.
Hello Te Reporter Seo Jae-chang |
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- Topics: AI, Automation technology, Digital Platform Government Committee, hello you, industrial economy, It, manufacturing industry, Ministry of Science and ICT, news, peak, Super giant AI, There is AI
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Giant AI Use Support Project Launched to Boost Innovation and Efficiency