Unstable or Low-Wage Jobs Make Up More than Half of Older Workers’ Job Growth
April 2018 Unemployment Report for Workers Over 55
The Bureau of Labor Statistics today reported a 3.0% unemployment rate for workers age 55 and older in April, a decrease of 0.2 percentage points since March.
While this number is low, we continue to hear stories of older workers struggling in the modern economy, such as Doug Schifter, a livery cab driver in his early 60’s who committed suicide after blaming politicians and Uber for turning his livelihood into economic slavery.
Unfortunately, recent data show that between 2005 and 2015, the growth in bad jobs held by older workers outpaced growth in jobs offering decent pay or stable employment. The growth of low-paying, unstable work contradicts claims of a strong labor market for older workers.