The unemployment rate for workers aged 55 and older has jumped from 3% in the second quarter of 2008 to 7% in the second quarter this year, according to a story by USA Today. That adds up to about 2.1 million unemployed older Americans. And that doesn’t include those who no longer are counted in unemployment figures because they’ve given up seeking work and have applied for Social Security.
Many experts predict that unemployment rates will remain high for the next few years. This is problematic for older Americans who have seen their retirement savings shrink.
For more information, go to http://www.usatoday.com/money/economy/employment/2010-08-10-1Aworkinglonger10_CV_N.htm.