As Job Market Slows, Risks For Older Workers Loom Large

As the job market now slows, older workers could be facing tough times again. During the past two recessions, their unemployment rate jumped almost as much as that of younger workers – a break from prior recessions when older workers’ unemployment rates jumped much less than that of younger ones. Worse, the length of unemployment for older workers is always higher than that of younger workers. Many older workers stay in the labor market because they need to, not because they want to, often to offset low savings.