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AARP Applauds Congress for Extending Unemployment Insurance Benefits

Relief Coming Soon for Millions of Older Workers Unable to Find Employment in

 Tough Economy

Washington, DC, November 6, 2009 – AARP Executive Vice President Nancy LeaMond offered the following statement in support of House and Senate passage of legislation to extend unemployment insurance benefits to millions of Americans in light of the highest unemployment rate in recent history.

“AARP strongly supports the extension of unemployment benefits to assist millions of workers who are struggling to find a job in this tough economy.  Today, there are nearly 2 million people age 55 and over who have a particularly difficult time gaining employment. These workers wait an average of 33 weeks or longer before finding another job, higher than most age groups.

“Extending unemployment benefits will assist nearly half a million workers age 65 and over who want to work but cannot get a job, which threatens not only their current financial health, but their long-term retirement security.   

“Many older workers stay on the job as the best way to compensate for low savings, plummeting housing values, and declining retirement portfolios in this economy.  The relief passed by Congress today is an important first step to address the financial security of millions of Americans who are struggling to make ends meet, and we urge the President to sign this relief into law immediately.”