ELI5: Explain Like I'm 5

Lifetime employment

Lifetime employment means that a person has a job for their whole life, and they never have to worry about finding a new one. It's like having a special job that you love and working there forever.

Some companies in the past used to promise lifetime employment to their workers if they worked hard and did a good job. This meant that the workers would stay with the company for many years, and the company would take care of them by giving them good benefits, like health insurance and retirement savings plans.

However, in today's world, it's rare that a company can keep its promise of lifetime employment. Sometimes companies have to close down or lay off workers when the economy is bad.

That's why it's important for people to keep learning new skills and being flexible in their jobs, so they can adapt to new opportunities and changes in the workplace. Just like how kids learn new things in school, adults need to keep learning throughout their lives so they can stay employed and be successful in their careers.