April 1, 2010

How Did Older Workers Fare in 2009?

Our new report shows that the recession hit older workers hard in 2009, although they generally fared better than their younger counterparts.

Last year unemployment rates for men and women age 55 and older reached their highest levels since records began in 1948;
At the same time, the share of adults employed held steady for those age 62 and older while declining for younger men;
Concerns about retirement affordability appear to be increasing the share of older Americans looking for work, especially in the wake of falling equity and housing prices.