Brief Age Disparities in Unemployment and Reemployment During the Great Recession and Recovery
Richard W. Johnson, Barbara Butrica
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As unemployment surged during the Great Recession and subsequent recovery, older workers were less likely than their younger counterparts to lose their jobs. However, unemployed workers in their fifties were about a fifth less likely than those age 25 to 34 to become reemployed between 2008 and 2011, and they experienced steep wage losses. Median hourly earnings for reemployed workers age 51 to 61 were 21 percent lower on the new job than the prelayoff job, compared with only 7 percent for those age 25 to 34. These declines may reflect lost productivity or employer reluctance to hire older workers.
Research Areas Economic mobility and inequality Wealth and financial well-being Aging and retirement
Tags Economic well-being Employment and income data Pensions Income and wealth distribution Unemployment and unemployment insurance Retirement policy
Policy Centers Income and Benefits Policy Center