-
Chris Putro, at age 55, has faced challenges in finding a job for nearly a decade.
-
With a master’s degree and more than ten years of experience, he notes this hasn’t led to many interviews.
-
Putro mentioned he is on the verge of depleting his savings in the coming years.
In 2013, after being dismissed from his job as a financial analyst at a tech firm, Chris Putro is still seeking employment more than a decade later.
Despite possessing both a bachelor’s and a master’s in chemistry and submitting countless applications, he reports minimal success in securing a job.
“I’ve had four phone interviews in total,” revealed the 55-year-old resident of Los Angeles to Business Insider via email. Three of those employers ultimately ended up “ghosting” him, while the remaining interview concluded prematurely with the assessment that he was overqualified.
When Chris lost his job, he had been with the same employer for 16 years. Upon assessing his financial situation, he estimated that he had sufficient savings to last a little over a decade, if necessary.
“I earned enough during those 16 years to sustain myself for another 11,” he stated.
We want to hear from you. Are you experiencing challenges in your job search and would be willing to share your story with a journalist? Please fill out
this form
.
Initially, he predicted he would exhaust his funds sometime this year. However, Chris mentioned that his investments in the stock market have yielded better returns than anticipated, which he believes may extend his financial runway by “a few more years.”
It has also been beneficial for Putro that he carries no student debt or children. Nevertheless, he noted that the only income source over the past decade has been the $50 per week he earns from producing a standup comedy show in Los Angeles. He views this as more or less “volunteer work” that keeps him occupied, yet it does little to stem the steady drain on his savings.
“The thought of when I might exhaust my funds and lose all my belongings is incredibly distressing for me,” he shared.
Putro represents a segment of Americans currently facing a difficult time securing employment. A significant reason for this trend is that businesses across the US have notably reduced their hiring practices. The ratio of job openings compared to the unemployed individuals—an indicator of job availability—has considerably dropped in the last two years.
It’s important to note that both the unemployment rate and layoff rate remain low relative to historical figures. However, the hiring slowdown is making it significantly harder for many job seekers—whether newly laid off, recent graduates, or those re-entering the workforce—compared to those who sought jobs just a few years ago.
Putro shared his strategies for finding a job and expressed uncertainty about whether his age is aiding or hindering his job search.
Application fatigue can hinder job search efforts
Putro earned his bachelor’s degree in chemistry from La Salle University in the early 1990s, followed by a master’s degree from UCLA. He worked at a pharmacy for a few years before securing a customer service role at a tech company in 1998. By 2006, he transitioned to a financial analyst position with the same organization, which he held until his dismissal.
After losing his job, it took Putro approximately two years to contemplate his future career direction. His formal job search commenced nearly nine years ago.
Over the last decade, Putro mentioned that he has applied for jobs “irregularly,” submitting anywhere from zero to 40 applications monthly.
“I get burnt out, take breaks, and hope for turnover in a company’s HR,” he explained.
He typically searches for positions using platforms like Indeed, LinkedIn, and the websites of significant local employers such as CBS and NBCUniversal. Given his background, he’s often encouraged to pursue financial analyst roles.
“I apply for roles I’m qualified for,” he noted. “People suggest I apply for minimum-wage positions, but I’m unsure where to find those.”
Despite his attempts, Putro has not experienced much success. He remains uncertain whether being 55 years old is beneficial or detrimental in the job market.
“I read that employers generally refuse to hire individuals my age due to misconceptions, yet I also see that they prefer older applicants because millennials and younger workers supposedly lack work ethic,” he remarked.
Looking ahead, Putro intends to keep sending applications, planning to ramp up his efforts in October, which he typically identifies as a month for intensified job searching.
“I’ve applied to two positions this week that seemed like perfect matches, but as expected, no response,” he lamented.
Read the full article on Business Insider