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by Sara E. Rix, Public Policy Institute, October 2011
This AARP Public Policy Institute fact sheet highlights the employment situation for older persons as of August 2011. Between July and August, the unemployment rate for persons aged 55 and older dipped to 6.6 percent from 6.9 percent, about 70,000 fewer than in July. Still, nearly 2.1 million people aged 55 or older were unemployed in August. The number of older persons with jobs increased in August, but the employment-to-population ratio showed little change.
The average duration of unemployment for jobseekers aged 55 and older remained just above one year in July. As of July, nearly 55 percent of older jobseekers had been out of work for 27 or more weeks.
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