In the final months of 2020, as the pandemic surged again and businesses were forced to scale back or close, the initial labor market recovery stagnated. For older workers, however, the recovery didn’t just pause—it took several steps back. Older workers (ages 55 and older) gained an insignificant number of jobs between August 2020 and January 2021, even as 1.1 million older workers left the labor force.1 The setback in older workers’ recovery is reflected in the recent trends of three top labor market indicators: the labor force participation rate, the unemployment rate, and the employment-to-population ratio.
Chosen excerpts by Job Market Monitor. Read the whole story @ The Stalled Jobs Recovery Pushed 1.1 Million Older Workers Out Of The Labor Force – The New School SCEPA
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