Older Workers Navigating Employment and Retirement

Although the economic recession that began in December 2007 has officially ended, unemployment rates still remain close to 10%. Especially hard hit have been older workers, aged 55 and older, for whom unemployment rates have reached historical highs. A combination of an increase in the number of older individuals re-entering the workforce and a limited number of job openings is responsible for their historically high unemployment rate. There is a significant number of job applicants for many positions, providing potential employers with a much broader pool of applicants. In deciding whom to choose, many employers may view older workers as more costly in terms of both compensation and health care costs relative to younger workers. This book examines the historical trends in unemployment and labour force participation among older workers, the reasons for becoming unemployed, and the duration of their unemployment.