Staying Fit
As many states started to ease their pandemic-related restrictions, hiring rapidly accelerated in March, according to new data from the federal Bureau of Labor Statistics (BLS). That could be promising news for older adults, because many roles they commonly fill were part of the bounce back.
The economy added 916,000 jobs in March, BLS data show. The overall unemployment rate last month was 6.0 percent, down slightly from 6.2 percent in February.
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The March unemployment rate for workers age 55 and older was 4.5 percent, down from 5.3 percent one month earlier. While that is encouraging, the March jobless numbers do not account for the many older Americans who have either retired early or are no longer actively looking for work. According to research published by The New School Retirement Equity Lab in February, more than 2 million older adults have left the workforce during the pandemic.
But as access to COVID-19 vaccinations increases, and as many businesses slowly return to their pre-pandemic operations, the job opportunities for older adults who want to work could increase.
"As with the restrictions put in place with the shutting down of the economy in the early part of the pandemic, the reopening has similarly been uneven,” says Mark Hamrick, senior economic analyst and Washington bureau chief for Bankrate. “But the overall impact [now] is one of lifting the prospects of the economy, as Americans look to resume the activities previously taken for granted as they are vaccinated and restrictions are lifted or relaxed."
The BLS report for March reveals which industries are already showing signs of growth.
Teaching and other school-related jobs
The nationwide push to get more students back to in-person learning has increased demand for both teachers and the support staff who help schools operate. According to the BLS, in March, locally funded schools hired 76,000 people, state-funded educational institutions such as colleges and universities hired 50,000 people, and private schools hired 64,000. That means 190,000 workers were hired in the education field last month.
According to the National Center for Education Statistics, roughly 29 percent of teachers are age 50 or older. And other education-related fields, such as school bus drivers, are popular part-time jobs for older workers.
