Americans in Their 50s Especially Hard-Hit by Recession

Publication: San Jose Mercury News

Author: Patrick May


09/04/2010 - In this bloody free-for-all of a recession, Americans in their 50s are really taking it hard on the chin.

Their 401(k)s have been cut down to 201(k)s. Their pensions have been frozen, or worse. Their home equity has evaporated just as their kids' college bills come due. And while younger workers may have been hit harder by unemployment, 50-something Americans who get laid off are stuck in jobless limbo longer than any other age group.

***

Some may never find another job: A Pew Economic Policy Group report in April said nearly 30 percent of jobless people 55 or older have been out of work for a year or longer, a higher rate than any other age group.

Read the article Americans in Their 50s Especially Hard-Hit by Recession on the San Jose Mercury News Web site.

X
(All Fields are required)