This AARP Public Policy Institute fact sheet looks at the December 2014 employment situation for the workforce aged 55 and older. Nonfarm payroll employment rose by an estimated 252,000 in December and by nearly 3 million since December 2013.
The unemployment rate for the aged 55-plus workforce fell from 4.5 percent to 3.9 percent between November and December and was down from 5.1 percent one year earlier. At the start of the Great Recession 3.2 percent of the older workforce was out of a job and looking for work. The percent of older Americans with jobs showed little change between November and December but had increased somewhat since December 2013. Over the same period, average duration of unemployment rose for older jobseekers.