Senior Unemployment Highest Since Great Depression

Sunday, October 25, 2009

At no other time in U.S. history have more seniors been a part of the workforce than now. More than 6.5 million people aged 65 and older are working, compared to 4.1 million in 2001. But there are another half a million seniors who want to work but can’t find jobs, giving this age group its highest unemployment since the 1930s. The Great Recession of today has caused thousands of older Americans to lose their jobs to young, cheaper replacement workers. The unemployment rate for Americans 65 and older is currently 6.7%—double what it was just two years ago, and far higher than the 1.9% rate earlier this decade.

-Noel Brinkerhoff
 
65 and Up and Looking for Work (by Steven Greenhouse, New York Times)

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