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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> National Council on Aging

Older adults most at risk for "very long-term unemployment"

Posted by RJ and Makay on Feb 04, 2011

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Older Adults Most at Risk for Very Long-Term UnemploymentFor the unemployed, getting a new job is tough. But it may be hardest of all for older adults, suggests a new report by the Congressional Research Service (CRS).

According to the report, older Americans who've lost a job are more likely than any other age group to experience "very long-term unemployment" — to be out of work for 99 weeks or more (the maximum for unemployment benefits in most states). Among unemployed individuals over age 65, for example, one in eight face very long-term unemployment. The rate is only half that among unemployed workers under age 35, the CRS report says.