Question

In: Economics

Since there is high unemployment in the US and so many college graduates cannot get jobs,...

Since there is high unemployment in the US and so many college graduates cannot get jobs, it is only fair to consider instituting a broad mandatory retirement age again in most workplaces. Agree or disagree? Explain your answer in full details

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Expert Solution

Mandatory retirement is justified by the argument that certain jobs are dangerous like military personnel or certain jobs require high skill both physical and mental like air traffic controllers,pilots of airlines etc). It is argued that after the age of 70, productivity falls. and employers with the aim of avoiding reduced productivity ,make retirement mandatory .Some consider this to be discrimination based on age.In view of rising unemployment,if retirement age is made mandatory ,the person is terminated from the job for no fault of his own.but the person is eligible for a pension plan.The person is also eligible for unemployment compensation benefit.But the question is whether pension payments impact unemployment compensation benefit . Generally Pension payments are deducted from UC payments.Mandatory retirement is unlawful in UK.The US equal employment opportunity commission states 'that it is unlawful to discriminate against a person because of his age,with respect to any term ,  condition, or priviledge of employment , including hiring, firing , promotion, layoff , compensation,benefits , job assignments and training.'So an employer cannot force retirement .So I disagree with mandatory retirement in view of rising unemployment.


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