12 Apr
Longer Unemployment for Those 45 and Older
Unemployed workers ages 45 and over form a disproportionate share of the hard-luck recession category, the long-term unemployed — those who have been out of work for six months or longer, according to the Bureau of Labor Statistics.
On average, laid-off workers in this age group were out of work 22.2 weeks in 2008, compared with 16.2 weeks for younger workers.
Even when they are finally able to land jobs, they typically experience a much steeper drop in earnings than their younger counterparts.
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