Older workers hit hardest by pandemic-related unemployment
Over the past six months, older employed workers were 17 percent more likely to fall into unemployment than mid-career workers.
By Alan Goforth|November 11, 2020 at 11:12 AM
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Unemployment rates for workers ages 55 and older have exceeded those of mid-career employees throughout the COVID-19 pandemic. This is the first time such an employment gap has existed for six months or longer since 1973, according to a report from the New School’s Schwartz Center for Economic Policy Analysis.
In every recession since the 1970s, older workers had persistently lower unemployment rates than mid-career workers (ages 35-54), partly because of the benefits of seniority.
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