Alert
Close

Top the Treasure Hunt leaderboard by 5 p.m. Friday to win a $100 gift card! Learn more

Highlights

Close

Real Possibilities

AARP Real Possibilities

Auto mechanics in repair shop. Small Business Resource Center

Contests and
Sweeps

Safe Driving in 2014 Sweepstakes

Learn how AARP Driver Safety can help you stay safe—and enter for a chance to win $1,000. See official rules. 

AARP-iPad-ePub-app
Car buying made easy with the AARP Auto Buying Program

PROGRAMS & RESOURCES

Best Employers for Workers Over 50

See the latest winners of this AARP recognition program.

Your Own Business

Information for business owners, entrepreneurs and the self-employed.

Back to Work 50+

Connecting employers and unemployed workers 50+.

Most Popular
ARTICLES

Viewed

Boomers and the Great Recession

Struggling to Recover

This AARP Public Policy Institute research report examines how boomers fared during and after recent recession. It is based on the findings of two on-line surveys of a random sample of boomers aged 50 to 64 who were in the labor force in October 2010 or who had been in it at some point in the previous three years—roughly since the start of the recession in December 2007. What were boomers’ experiences with unemployment and reemployment? Who withdrew from the labor force? What barriers did the unemployed face in finding work? To what extent was age discrimination a problem? Who received unemployment benefits? Were efforts made to hone job skills? How much economic hardship was experienced during the recession?  How did boomers cope with economic uncertainty? What were their concerns about financial well-being in retirement?

The first survey in October 2010 completed interviews with 3,950 boomers. A brief follow-up survey of a random sample of 1,030 of the original respondents was conducted in August 2011.

The report confirms that boomers have indeed had a rough ride over the past several years. The recession and its aftermath have left many without jobs, having exhausted their savings, and with homes they can neither afford nor sell.  The surveys indicate that boomers are uncertain about what the future holds for them as they edge toward retirement.

Although anxiety on the part of the unemployed and even those recently employed after a spell of unemployment would not be surprising, majorities of even the steadily employed expressed concern about, for example, being able to maintain a reasonable standard of living in retirement, having enough money to pay for adequate health care, or depleting all their savings. Nor did they expect to do as well as their parents or people of their parents’ generation in retirement.

To capture the intensity of concern or worry about the financial well-being experienced by boomers during and following the Great Recession, a boomer financial concern index was constructed.  This index identifies the groups of boomers feeling most concerned, worried, or anxious about their current and future financial security.

The report ends with a number of policy options that could address the employment and retirement income prospects of America’s boomers. … Back to Article

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Jobs You Might Like

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

UPS

Members get 15% off eligible products/services and 5% off shipping at The UPS Store®.

AARP Discounts on Consumer Cellular Phones and Plans

Members save 5% on monthly service and usage charges with Consumer Cellular.

Member Benefits

Renew today! Members receive exclusive member benefits & affect social change.

Explore Your Learning Possiblities