The economy is not okay if layoffs are happening all around us. Layoffs are a sign of economic contraction, not economic expansion.
What I've been reading about in Canada for example, is that seniors who apply for employment who are over 60 years of age will not be considered for any job even in a donut shop, though no official reason is given because it would be an admitting to age discrimination which is illegal in Canada.
If a person of ANY age is collecting a company pension which resulted from their early retirement, or they are collecting a government pension because of their life's circumstances, they are automatically disqualified from employment interviews because they already have an income and are perceived as being 'less needy', compared to someone who has no pension, has no job and is also under 60 years of age who therefore needs the job more than a pensioner.