3/28/2015 – As Job Rate Rises, Older Workers Are Often Left Behind (The New York Times)

Mar 28, 2015 Comments Off by

Despite some indications here and there that the baby boom generation is working longer, few workers were hurt as badly as those over 50 in the years after the economic crisis that began unfolding in 2008. Many were forced to take jobs at lower pay, with fewer hours and less generous benefits — or no job at all.

To gauge the toll the recession took on older workers, the AARP Public Policy Institute questioned 2,492 people who had been jobless in the previous five years and will release the report, “The Long Road Back: Struggling to Find Work After Unemployment,” on Monday.

Long-term unemployment among older workers has been a major concern. On average, 45 percent of job seekers age 55 and older, like Mr. Collins, have been looking long term, according to the federal Bureau of Labor Statistics, which defines long term as 27 or more weeks without work. To address the reluctance of employers to consider such workers, the Obama administration last year started an initiative to encourage private and public companies to hire the long-term unemployed.

Read the full article at The New York Times.

Financial Landing 2015

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