AARP - Finance
Facts About Older Workers
- In 2008, 6 million Americans aged 65 and older were in the labour force (working or actively seeking work), including 3.3 million men and 2.7 million women.
- According to AARP, of the 11.1 million unemployed in the U.S., 1.4 million were at least 55 years old.
- The December unemployment rate for the 55-plus workforce was the highest monthly rate since October 1992.
- The number of older workers classified as "discouraged" (no longer looking for work) by the Bureau of Lab or Statistics has nearly tripled from December 2007 to December 2008, rising from 53,000 to 154,000.
- Studies have shown that, after layoffs, older workers tend to be rehired at a slower rate. Many face significant pay cuts to return to the workforce.
- The median weekly earnings of workers 65-plus in 2007 was $605 or 13 percent less than the total workforce.
This is certainly a worrying time for AARP members especially those without saving or who are faced with negative equity from their homes. So what can baby boomers do to alleviate the situation.
Well a growing number already communicate via the Internet and perhaps this is an area which can provide a solution for their problems by working from home'
David Ogden - Tomorrows Home Business - Retire in Ten Years
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