Economy loses 33,000 jobs in September

Employment overview The economy lost 33,000 jobs in September largely reflecting the impact of hurricanes Harvey and Irma. Despite the overall job loss, the labor force participation rate for those ages 55 and older decreased only slightly to 40.1 percent. The Bureau of Labor Statistics’ (BLS) September Employment Situation report showed the overall labor force participation rate edged up slightly to 63.1 percent.  The unemployment rate declined to 4.2 percent with 6.8 million persons remaining unemployed.  Much of the impact …

Fewer Jobs Added in August but Labor Force Participation of the 55+ Holds Steady

Employment overview Though hiring slowed in August, the labor force participation rate for those ages 55 and older rose slightly to 40.2 percent. The Bureau of Labor Statistics’ August Employment Situation Report found that the overall labor force participation rate remained unchanged at 62.9 percent and the unemployment rate was little changed at 4.4 percent with 7.1 million unemployed persons.  Jobs were added in manufacturing, construction, professional and technical services, health care, and mining. While the unemployment rate for those …

Long-Term Unemployment Down for People Ages 55+ in July

  Employment overview   While many employment indicators for the 55+ were unchanged from June, the July 2017 Employment Situation Report from the Bureau of Labor Statistics showed that more people ages 55+ were employed and a lower percentage of jobseekers ages 55+ were experiencing long-term unemployment.  Overall, the economy added 209,000 jobs in July, down from 231,000 (revised) in June.  The unemployment rate for those ages 55 and older was virtually unchanged at 3.2 percent with 1.2 million of …

Unemployment of Workers Ages 55+ Edges Up in June Despite Strong Jobs Growth

Employment overview The economy added 222,000 jobs last month, up from 152,000 (revised) in May according to the June Employment Situation Report from the Bureau of Labor Statistics.  Though the number of jobs increased, more people, such as previously discouraged workers or new graduates, joined the labor force, edging the unemployment rate up slightly to 4.4. percent.  Meanwhile, the unemployment rate for those ages 55 and older was 3.2 percent with 1.2 million of the 55+ unemployed.  The labor force …

Fewer Jobs Added in May, but Labor Force Participation Rate of Those Ages 55+ Holds Steady

  Employment overview   The U.S. economy added 138,000 jobs in May, according to the Bureau of Labor Statistics’ newest Employment Situation Report. This was lower than the average monthly gain of 181,000 over the prior 12 months and April’s gain of 174,000 jobs (revised down from 211,000). The unemployment rate in May was 4.3 percent and the number of unemployed persons was 6.9 million. By comparison, the unemployment rate for people age 55 and above was 3.1 percent, with …

Labor Force Participation Rate for People Age 55+ Edges Up in March

  Employment overview for those age 55+   The monthly Employment Situation Report from the Bureau of Labor Statistics (BLS) shows the economy added 98,000 jobs in March 2017 — an unexpectedly smaller increase from the first two months of the year. The number of persons age 55-plus who are employed increased slightly from February. Meanwhile, the unemployment rate for those age 55 and older remained unchanged, at 3.4 percent and approximately 1.2 million unemployed. The percentage of the 55-plus …