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Unemployed Older Workers: Many Face Long-Term Joblessness and Reduced Retirement Security: Congressional Testimony
Charles A. Jeszeck (au)
Statement of Charles A. Jeszeck, Dir, Education, Workforce, and Income Security, GAO, discussing the status of unemployed older workers. The most recent recession, which began in 2007 and ended in 2009, was the worst since the Great Depression, and has been characterized by historically high levels of long-term unemployment. While it is crucial that the nation help people of all ages return to work, long-term unemployment has particularly serious implications for older workers (age 55 and over). Job loss for older workers threatens not only their immediate financial security, but also their ability to support themselves during retirement. This testimony focuses on (1) how the employment status of older workers age 55 and over has changed since the recession; (2) older workers' challenges in finding new jobs; (3) how periods of long-term unemployment might affect older workers' retirement income; and (4) what other policies might help unemployed older workers regain employment and what steps the Dept. of Labor has taken to help unemployed older workers. Figures. This is a print on demand report.
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