November 7, 2011

Worst Combo in Job Market: Age 55+ and Unemployed (Guest Post)

A recent Pew Research survey(.pdf) shows how difficult things have become for the long-term unemployed, particularly if you are over 55 and have little or no higher education.

Almost 32 percent of the nation’s 14.4 million “unemployed” (i.e., not counting an almost equal number of people who have either given up looking for a job or who have settled for part-time work) have been without a job for over a year. But, for those over 55, that share goes up to nearly 45 percent as shown above, and the less school you’ve had the worse your chances of landing a job (unless of course you move to Williston, ND).
About The Author - Tim Iacono, a retired software engineer living in Bozeman, Montana, is the founder of The Mess That Greenspan Made. (EconMatters author archive here.)
The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters
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