March ’23 Senior Resources Guide: The Job Picture is Looking Up

by Suzanne Pollak, JCA Senior Writer/Editor

The Job Picture is Looking Up; Many Employers Want To Hire Seniors

The pandemic set many workers on a new trajectory, and that is not necessarily a bad thing at all. According to Carly Roszowski, vice president of financial resilience programming at AARP, 23% of seniors are considered long-term unemployed as compared to 16.7% of younger adults.

That may sound high, but the gap is decreasing, “which is a positive note,” she said.

Also decreasing, she noted, is the unemployment rate for those 55 years and older. “The unemployment rate went down for the entire work force as did long term unemployment,” Roszowski said.

During the pandemic, many people of all ages left the work force. Workers have begun returning, but frequently to different jobs where they are receiving better pay and experiencing less frustration. “Things are starting to settle,” Roszowski said.

“There are still 1.7 job openings for every job seeker. I don’t think that is going to change anytime soon in the current economy, so that is a positive,” she said in February.

A big reason people of all ages are returning to the workforce is the economy. With inflation high – think the cost of eggs and gasoline – and talk of a recession looming, people are seeking new and higher paying jobs. For older adults, the amount of money it takes to retire comfortably has changed. What once was believed to be enough to take care of their costs -and a vacation or two – now barely covers the basic necessities.

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