Are Tech-Driven 'Career Meltdowns' Hitting Generation X?

'I am having conversations every day with people whose careers are sort of over,' a 53-year-old film and TV director told the New York Times:

If you entered media or image-making in the '90s — magazine publishing, newspaper journalism, photography, graphic design, advertising, music, film, TV — there's a good chance that you are now doing something else for work. That's because those industries have shrunk or transformed themselves radically, shutting out those whose skills were once in high demand... When digital technology began seeping into their lives, with its AOL email accounts, Myspace pages and Napster downloads, it didn't seem like a threat. But by the time they entered the primes of their careers, much of their expertise had become all but obsolete.

More than a dozen members of Generation X interviewed for this article said they now find themselves shut out, economically and culturally, from their chosen fields. 'My peers, friends and I continue to navigate the unforeseen obsolescence of the career paths we chose in our early 20s,' Mr. Wilcha said. 'The skills you cultivated, the craft you honed — it's just gone. It's startling.' Every generation has its burdens. The particular plight of Gen X is to have grown up in one world only to hit middle age in a strange new land. It's as if they were making candlesticks when electricity came in. The market value of their skills plummeted...

Typically, workers in their 40s and 50s are entering their peak earning years. But for many Gen-X creatives, compensation has remained flat or decreased, factoring in the rising cost of living. The usual rate for freelance journalists is 50 cents to $1 per word — the same as it was 25 years ago... As opportunities and incomes dwindle, Gen X-ers in creative fields are weighing their options. Move to a lower-cost place and remain committed to the work you love? Look for a bland corporate job that might provide health insurance and a steady paycheck until retirement?

The article includes several examples of the trend:
One magazine's photo studio director says professional photographers have been replaced by 'a 20-year-old kid who will do the job for $500.' The article adds that 'When photography went digital, photo lab technicians and manual retouchers were suddenly as inessential as medieval scribes.' (And 'In advertising, brands ditched print and TV campaigns that required large crews for marketing plans that relied on social media posts.'')
An editor at Spin magazine remembers the day its print edition folded...

And besides competition from influencers, there's also AI, 'which seems likely to replace many of the remaining Gen X copywriters, photographers and designers. By 2030, ad agencies in the United States will lose 32,000 jobs, or 7.5 percent of the industry's work force, to the technology, according to the research firm Forrester.'

Meanwhile the cost of living has skyrocketed, the article points out — even while Gen X-ers 'are less secure financially than baby boomers and lack sufficient retirement savings, according to recent surveys...'

Read more of this story at Slashdot.