Age Disparities in Unemployment and Reemployment during the Great Recession and Recovery

The surge in unemployment that accompanied and followed the Great Recession - the economic downturn that began in December 2007 and lasted until June 2009 - did not spare either younger or older workers. Nonetheless, age affected how workers fared during the slowdown. Layoffs were less common among older workers who had many years of service with their employers than among their younger counterparts who had less seniority, but older adults took longer to find work when they lost their jobs. Wage losses were especially steep for unemployed workers in their fifties who became reemployed.

Reference Information

Author: 

Richard W. Johnson,
Barbara A. Butrica
Publication Date: 
May 2012