The unemployment rate for workers aged 55 and over was 5 percent in July, according to the most recent data available from the Bureau of Labor Statistics. That's still higher than historical averages but it's much lower than the overall unemployment rate of 7.4 percent, and below the unemployment rate for any younger group of workers.
Workers aged 55 and over also are the only ones to have seen their ranks grow substantially since 2007, the year the nation went into recession. There were 31.6 million employed people aged 55 and over in July, according to the BLS, up from 25.9 million in July of 2007. That's partly demographics: As baby boomers age, more are becoming part of the 55-plus group.
The unemployment rate for Americans 55 and older is lower than for any other age group the government tracks, and far below the national average. But if an older workers loses a job, the length of time that person will stay unemployed is typically much longer than for any other age group.
The government is scheduled to release August unemployment numbers on Friday, and forecasters are expecting the economy to have added around 200,000 jobs.
No comments:
Post a Comment