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Life Health > Running Your Business

Unemployment for seniors still rising

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Unemployment for seniors still rising
7.1% Unemployment rate in May for workers 55 and older, up from 7 percent in April.

44.2 Number of weeks older jobseekers were unemployed in May, up from 42.9 in April.

59.4% of older jobseekers were unemployed for 27 weeks or more in May, up from 23 percent at the start of the recession.

7.6% Unemployment rate for older men in May, compared with 5.9 percent for older women.

28 million Number of people 55 or older who had a job in May.
Source: AARP

Hispanic seniors fare better than younger counterparts
5% of Hispanic seniors consult a financial planner, compared with 15 percent of Hispanic boomers.

30% of Hispanic seniors said they were “very confident” they would live comfortably through retirement, compared with 21 percent of boomers.

12% of Hispanic seniors had to borrow money to pay everyday expenses, compared with 38 percent of boomers.

12% of Hispanic seniors had to seek financial help through friends and family, charities, or churches, compared with 27 percent of boomers.
Source: AARP


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