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The Employment Situation, October 2013

Not Much Changed for Older Workers

This AARP Public Policy Institute fact sheet looks at the August 2013 employment situation for the workforce aged 55 and older.

The October unemployment rate for the workforce aged 55 and older—5.4 percent—was little changed from September’s 5.3 percent. Although below the rate of 5.8 percent in October 2012, it was still much higher than at the start of the Great Recession: 3.2 percent.

  • Approximately 1.8 million people aged 55 and older were unemployed in October, 45,000 more than in September but 113,000 fewer than the previous October.
     
  • The average duration of unemployment for older jobseekers fell from 55.4 weeks in September to 49.7 weeks in October.
  • The proportion of older people with jobs in October (37.9 percent) was below what it was 1 year earlier (38.3 percent).

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