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The Employment Situation, November 2010: Little Holiday Cheer in the News

This AARP Public Policy Institute fact sheet highlights the employment situation for older persons as of November 2010.  The overall unemployment rate rose from 9.6 percent in October to 9.8 percent.  At 7.3 percent, the unemployment rate for persons aged 55 and older was unchanged from the month before.  Nearly 2.2 million persons in this age group were unemployed in November—18,000 more than in September. 

The average duration of unemployment for jobseekers aged 55 and older in rose once again in November—to 44.9 weeks from October’s 44.3 weeks.  As of November, more than half –57.6 percent—of these jobseekers had been out of work for 27 or more weeks, up from 55.6 percent in October.

Most older persons (97 percent) who are out of the labor force continue to say that they do not want a job, and the number expressing interest in November fell slightly (by 5.6 percent) between October and November.  However, the number interesting in having a job was still 68 percent higher than it had been at the start of the recession.  The number of discouraged workers was down sharply in November.