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09/22/2009

Study finds 46 percent of older, lower-income jobless Americans risk losing their homes

A new study of low-income unemployed older workers finds 46 percent of them need to find jobs, or they’ll lose their homes or apartments. Forty nine percent have been looking for work for more than a year, the study – released Tuesday - found.

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“The perfect storm – a recessed economy, increased competition for jobs, and age-related employment barriers – has created a crisis for America’s older low-income workers,” Experience Works, a leading national non-profit providing training and employment opportunities for older workers, said. Experience Works conducted the study.

The study included responses from more than 2,000 low-income, unemployed workers ages 55 and older. Some of its findings:

 

* In July 2009, there were two million unemployed workers age 55 plus; the jobless rate for this group was highest since the Bureau of Labor Statistics began figuring data by age in 1948.

 

* Many of these workers “did not plan to be looking for work in their 60s, 70s, and 80s.” A major life event forced the job search, the study said. Those events included being laid off (20 percent of respondents), death of a spouse (16 percent), and large medical bills (15 percent).

 

* 38 percent of older workers surveyed “had retired, but they are going back to work and many have no end in sight for their working years.”

 

* Ninety percent of survey respondents age 76 and older plan to continue working in the next five years.

 

* On average, “these 55 plus unemployed workers have been on the job search an estimated 52 weeks.”

 

* Older workers say the poor economy and age related barriers – including lack of the necessary training – “are the most significant challenges they face to finding employment.”

 

* Nearly three-fourths of older workers surveyed (73 percent) “strongly agree or somewhat agree that their age makes it difficult for them to compete for jobs with younger workers.”

 

- Scott Nishimura, jobs and workplace reporter, Star-Telegram

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It's really disgusting to read about these poor elderly people who have keep on working or even searching for a job. My mum is 53 now and even for her it's a bit difficult to continue working. And these poor ladies and gentlemen...

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