I was recently reading Michael Winerip’s “Time, It Turns Out, Isn’t on Their Side” article in The New York Times. The article is a follow-up to an article Winerip wrote a year ago about out-of-work Baby Boomers looking for jobs in this tough economy.

One year later, things had not improved much for most of the job-seekers. Of the 16 people who were followed up with, only one had a higher paying job and nine said they are still struggling. While unemployment is a little less than the national average among workers older than 45, it takes much longer for this group to find work after being laid off.

Historically, Boomers are hit hardest when they reenter the workforce. After the recession in the early ‘90s, rehired workers age 55 to 64 faced a 27% wage loss and a 23% wage loss after the recession in the early 2000s. For employees age 25 to 34, those numbers are 7% and 6%, respectively. Perhaps because they have accomplished less thus far in their careers, Generations X & Y are more resilient when searching for a new position.

These numbers could suggest that older employees have built up so much equity within their companies, it’s hard to quickly reach that same level of achievement at a new job. A common trend among top companies is the way they take care of their employees. Many made it through the recession without having to layoff large numbers of employees (or any at all). These companies may not offer the highest paid positions within their industries, but they do offer the security in knowing that the company sees them as more vested in the business, and subsequently less expendable.

Another obstacle that Boomers face is that they are overqualified for many of the positions out there. For many, this is the most difficult part of being out of work. But the good news for employers is that this is one of the best times to grab top talent for when the economy improves. Companies that are actively hiring right now have a pool of well-qualified and experienced employees to choose from. And as we emerge from the recession, these companies have positioned themselves to have a real advantage over the competition in the future.

Tribe is currently conducting research on Boomers and the workplace. Look for the findings to be released soon.