AARP: Consistently Growing Number of Unemployed Workers Heightens Need For Immediate Response To Dire Economic Times
Source: AARP Press Center | 2008-12-05
December 5, 2008
Contact: Danielle Holland or Alejandra Owens 202-434-2560 dholland@aarp.org OR asowens@aarp.org
Washington, D.C. – Individuals, government and businesses are preparing to close out 2008 under extremely difficult economic circumstances. Record breaking job cuts, growing unemployment rates and a fragile economy threaten the financial security of all Americans. AARP Executive Vice President Nancy LeaMond today responded to the updated unemployment numbers:
“The Bureau of Labor Statistics today reported that the unemployment rate rose from 6.5 to 6.7 percent over the last month alone. Over the last year workers 45 and older have seen a more than 55 percent increase in unemployment and those 55 and older have experienced a 65 percent increase. With limited time to rebuild their retirement nest eggs, the ability to continue working is essential for older Americans.
“Congress recently took an important step forward to help relieve some of the financial pressure on working families with the passage of an extension of unemployment benefits. As the Holidays near, jobless workers who continue to look for work but are unable to find employment can take some comfort knowing that they will not lose critical financial support as they struggle to make ends meet for their family.
“Now, Congress faces a new opportunity to provide immediate economic relief to families and individuals with an economic stimulus plan. A comprehensive plan that temporarily increases federal funding to states for Medicaid, helps homeowners avoid foreclosure, and assists retirees and those nearing retirement who have lost significant life savings” those nearing retirement some much needed flexibility in managing their retirement savings is essential during these difficult times.
“The new year brings a new Congress, a new President and the hope for growth and new opportunity across the economy. All Americans and their loved ones are looking, now more than ever, to their elected leaders to seize this opportunity for action.”
ABOUT AARP
AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 34.5 million readers; AARP Bulletin, the go-to news source for AARP's 40 million members and Americans 50+; AARP Segunda Juventud, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
