This Article is About
older workers
health care coverage
bureau of labor statistics
retirement options
finding jobs
unemployment rate
age category
new job
drains
job opportunities
concentration
Older Workers Are See The Biggest Benefits In Improvements In Job Market
Join 1000's of Authors at StreetArticles Today!

Older Workers Are See the Biggest Benefits In Improvements In Job Market

The job market is slowly improving according to reports but the age group that is seeing the biggest benefits is the over fifty five group. According to the Bureau of Labor Statistics, nearly have of all people who are over age fifty five currently have a job, whether they just changed jobs or have returned to work after a lengthy unemployment period. The age group makes up over thirty million workers in the US. New job opportunities for the twenty five to thirty four year old age group did not see nearly as much growth, with many of them finding jobs but facing smaller paychecks than they would have previously received.

More than 2.51 million people were employed in February 2012, well over the number of people who were employed in February 2011.The unemployment rate for people over fifty five years or older is nearly six percent making it the lowest of any other age group. Experts say that there are several reasons for this increased number and not all of them are as positive as they might seem on the surface. For instance, older workers are coming back to work because they are running out of retirement options. They are also remaining on the job beyond their retirement years because they simply cannot afford to retire like previous generations would have.

Once older workers do lose their jobs, they tend to take longer to find new employment especially if they do not have advanced or additional degrees and training. When faced with competition in certain job markets, the older worker will tend to lose out, especially in areas with a high concentration of college or university level, younger workers. Older workers are often looked at as potential drains on an employer's health care coverage which also plays a role in keeping them from being employed quickly.

Younger workers are also making some improvements , with unemployment down to 8.7% in February, down from 9% the month before. Employment for people in the 25-34 year old age category now stands at nearly seventy five percent. That age group is the most likely to influence a full economic recovery according to business and financial experts because they are the ones most likely to make major purchases once they are working at a steady pace. They are also the group most likely to start spending discretionary funds once again which will also help the economy.


Street Talk

This article is interesting. I find this to be encouraging because I am in my 50's. However, I like working from home and doing volunteer work. I like having flexible hours, and I enjoy encouraging people to improve their lives.

Reply
  about 1 decade ago
You May Also Like
Unemployment Reforms May Hit Older Workers Hardest: New Requirements Will Have Huge Impacts
Congress will be discussing potential reforms to unemployment, including several provisions that if passed could dramatically impact older workers as well as those who live in areas that have been especially hard hit by job loss. One of the most controversial of these reforms will require recipients to either have…
By:  in  News and Society  >  Economics   Jan 10, 2012  
6
  Likes: 2

Job Finding Tips: Jobs for Older Workers
Finding a job is always a challenge but in the current economic climate, with on average 50 applicants for every post, it’s a real fight out there. In a world that often seems obsessed by youth it can feel even more daunting for some older workers. A recent study by…
By: BIS_Coach in  Business  >  Career Advice   Apr 24, 2011  
0
  Likes: 2

Covering The Basics Of Indiana Health Insurance
Indiana health insurance is not that complicated once you understand a few basic terms, and have a simple understanding of the primary facets of health care plans. Understanding basic health insurance terminology could significantly help reduce the amount of time and money that you spend for health care coverage. First,…
By: eINHealthInsurance in  Insurance  >  Health   Sep 08, 2012  
0
  Likes: 0

Whatever Happened to Cheap Tires?
You have probably noticed it by now. You go to the grocery store, and your bill is way more than you had to budget for a few years back. You leave the store to fill up the car, and notice you have to drop almost $80-100 each time just to…
By: Dan18 in  Automotive  >  Trucks   Nov 29, 2012  
1
  Likes: 1

Jobs In PA Are Plentiful For The Younger Generation
Although many jobs in Pa. are gone forever, there is some light at the end of the tunnel. The younger generation is who will reach that light.According to the Bureau of Labor Statistics the September unemployment rate in Pennsylvania was 8.3%. Although it has risen for four straight months, it's…
By: Jeff S in  Business  >  Career Advice   Oct 26, 2011  
0
  Likes: 0

Reasons Your Metabolic Rate May Be Low
Simple put, your metabolic rate is the rate you burn off the energy from foods and liquids you consumed. There are reasons why your metabolic rate may be low no matter how hard you try. Everyone's metabolic rate varies based on their body and genetics. Your height, weight, age, normal…
By: Naomi Jenrette in  Health and Fitness  >  Weight Loss   Jan 06, 2012  
0
  Likes: 0

I Swear I Am Not Interviewing For A Job Ever Again
The headache, sweaty palms, the racing of the heart, the inability to form complete sentences, and the sheer humiliation of it all. No I didn't have a heart attack or fall down a flight of stairs, although I would have been better off with the stairs as opposed to the…
By: Rainne in  Home Based Business   Oct 28, 2013  
7
  Likes: 3

Unemployment Rate Falls Considerably In November
According to a news release by the Bureau of Labor Statistics on December 2, 2011, the official U-3 unemployment rate fell 0.4 percent in November to a seasonally adjusted rate of 8.6%. This represents a significant decrease in one month and a large decrease from one year ago when the…
By: Ron Estel in  News and Society  >  Economics   Dec 02, 2011  
0
  Likes: 2

The Real Unemployment Rate In America
It’s no secret that this country is currently dealing with an unemployment crisis that has not been seen for several decades. Every day, we are bombarded with news reports and statistics that indicate things may be getting a little better, a little worse, or staying about the same. It can…
By: Ron Estel in  News and Society  >  Economics   Jan 09, 2012  
0
  Likes: 3

Commercial Drivers Status In Maryland
It's no secret that driving a truck, or some other commercial vehicle is not easy. It's a job that is both physically and mentally demanding, which is why you have to take rigorous road skills and written knowledge tests and pass a physical exam to obtain a commercial driver's license.…
By: Jordan Perch in  Automotive   Jul 29, 2013  
0
  Likes: 0

Jobs In Baltimore - Are They Gone Forever?
Finding jobs in Baltimore over the past few years has been like finding a bushel of crabs in the Chesapeake bay, nearly impossible. Although Crabs seem to be making a comeback, jobs are not.According to the Bureau of Labor Statistics, the unemployment rate is climbing again. It's now sitting just…
By: Jeff S in  Business  >  Career Advice   Oct 23, 2011  
1
  Likes: 1

Commercial Drivers' Income In New York
Truck driving has become a popular career choice in the past couple of years, and if you are one of those people who want to be professional truck drivers, you must be aware of all the challenges and difficulties you will have to face while working. But, before you can…
By: Jordan Perch in  Automotive   Jul 29, 2013  
0
  Likes: 0

Safety In Each Atlanta Construction Company
Construction is one of the most hazardous industries in the country, if not the world. Every year, tens of thousands of construction workers get hurt and approximately a thousand die. According to the Bureau of Labor Statistics (BLS), about 150 accidents happen in construction sites every year, and the most…
By: Rocky2 in  Home Improvement  >  Remodeling   Jul 16, 2012  
0
  Likes: 0

Retirement Options for Baby Boomers
There are three main segments of the human society: the youths, who were labelled as the hope and the future, the adults who were the aggressive adventurer, discoverer and implementer and the elderly, the consultants and wise adviser. Among the three, sad to say it is the elderly “parents” who…
By: Melva in  Reference and Education   Dec 05, 2011  
0
  Likes: 1

Get Government Jobs India Through A Formidable Platform Online
Individuals who look for security have the earnest desire to get employment in government setups. However, finding employment in public and private sector government undertakings is not such an easy thing to do. Several sites render candidates an illusionary picture to put them at ease and depict a favorable scenario.…
By: GovernmentJobsIndia in  Business  >  Careers Employment   May 28, 2016  
0
  Likes: 0

Article Views: 1911    Report this Article