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September 22, 2009
Older, lower-income, jobless workers have been particularly vulnerable in the downturn, a new study says.
"The perfect storm — a recessed economy, increased competition for jobs and age-related employment barriers — has created a crisis for America’s older low-income workers," Experience Works, a leading national nonprofit that provides training and employment opportunities for older workers, said Tuesday.
Experience Works conducted the study, which included responses from more than 2,000 low-income, unemployed workers ages 55 and older, all of whom are enrolled in Experience Works’ program, randomly selected from 30 states.
Some of its findings:
In July, there were 2 million unemployed workers ages 55 and older, the highest since the government began the series in 1948.
A major life event forced the job search, including being laid off (20 percent of respondents), death of a spouse (16 percent) and large medical bills (15 percent).
38 percent "had retired, but they are going back to work and many have no end in sight for their working years."
90 percent of survey respondents ages 76 and older plan to continue working in the next five years.
On average, the unemployed workers "have been on the job search an estimated 52 weeks."
73 percent "strongly agree or somewhat agree that their age makes it difficult for them to compete for jobs with younger workers."
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