Job loss during the Great Recession is upending retirement savings plans for many older workers. Fewer than a quarter of workers age 50 and older who lost their jobs between mid-2008 and the end of 2009 found work within 12 months, much lower than the reemployment rate for younger workers. Older displaced workers who find jobs must often accept deep pay cuts. These challenges highlight the need for more training and employment services for those 50 and older.
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