This AARP Public Policy Institute fact sheet highlights the employment situation for older persons as of July 2012. At 6.2 percent, the July unemployment rate for persons aged 55 and older was unchanged from June. Nearly 2 million older people were out of work and looking for a job in July. The labor force participation rate for this age group fell from 40.5 percent in June to 40.2 percent in July.
Average duration of unemployment among older jobseekers was just over 51 weeks in July, down from June’s 55.6 weeks. Few other employment indicators showed any improvement between June and July.