Rise in unemployed seniors
The first decade of the 21st century proved rough for workers 55 and older in America.1 From January 2000 through December 2009, the number of unemployed seniors rose from 490,000 to 2,114,000, a 331.4% increase, according to the AARP’s Public Policy Institute’s analysis of Bureau of Labor Statistics data.
The analysis also shows that the average time it takes unemployed seniors who are actively seeking work to get hired has also increased. In December 2009 the average period of unemployment was 34.7 weeks, compared to 18.7 weeks in January 2000.