Study: Adults 55 and older face higher unemployment rates than mid-career workers

A study conducted by the New York-based New School, which examined unemployment since the beginning of COVID-19, has found that for the first time since the 1970s, older workers are facing higher unemployment rates than mid-career workers.

A study conducted by the New York-based New School, which examined unemployment since the beginning of COVID-19, has found that for the first time since the 1970s, older workers (age 55-plus) are facing higher unemployment rates than mid-career workers (ages 34 to 54). Professor of Economics Dennis Hoffman explains that lack of seniority is one reason.

In this story published Oct. 30, 2020, on KJZZ Phoenix:

From 50 and beyond are moments when our current system assumes that people are going to be rising in their career, and are going to be having some of their best earning years. The reality for many Americans is that's not the case. And our systems aren't built to then help support them through a healthy and successful later life.

– Professor of Economics Dennis Hoffman, who's the director of the L. Seidman Research Institute