Here's Why So Many Older Workers Are Hurting So Badly From COVID-19-Related Unemployment
In April, the U.S. unemployment rate reached its highest level since the Great Depression, and older workers were part of those dire statistics. In fact, the unemployment rate among workers aged 55 and older jumped to 13.6% in April, up from 2.6% earlier in the year. But while older workers aren't the only ones getting laid off, they're the ones who might struggle the most to find new jobs for a few reasons.
First, their age. Many employers try to avoid hiring workers who appear to be on the verge of retirement for fear that their skills will be outdated or they'll up and leave the workforce a year or two later. In fact, during the last recession, it took workers aged 51 to 60 nine months, on average, to find another job, whereas for workers aged 25 to 34, the average time out of work was under six months.
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Source Fool.com
