At a graduation ceremony, I visited with middle-aged men of my acquaintance, and found many of them — maybe even a majority — living like me without steady work. When I talked about it a little, they readily admitted they were hurting. Taking construction jobs for a $100 under the table, despite having careers in the media, for instance. A journalist friend pointed me to this Newsweek cover story on the phenomenon, which does bring out some new details, and makes its case powerfully:
…while economists don’t have fine-grain data on the number of these [middle-aged] men who are jobless—many, being men, would rather not admit to it—by all indications this hitherto privileged demo isn’t just on its knees, it’s flat on its face. Maybe permanently. Once college-educated workers hit 45, notes a post on the professional-finance blog Calculated Risk, “if they lose their job, they are toast.”
The chart below is based on a survey of 250 such "beached white males" around the country.