How can ageism in the workplace impact older workers' economic stability during downturns?

Ageism in the workplace can greatly affect older workers, especially during economic downturns. When employers hold negative beliefs about older employees, they may overlook them for promotions or job opportunities, believing younger workers are more adaptable or energetic. This discrimination can lead to job loss or difficulty finding new employment, which directly impacts their income and financial security. For example, if an older worker is laid off during a recession, they might struggle more than a younger person to find a new job due to age biases, making it harder to support themselves and their families. Ultimately, ageism not only affects individual workers but can also contribute to broader economic instability as older individuals may have less money to spend and invest.