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The U.S. Department of Labor is paving the way for states to sponsor retirement plans for millions of private-sector workers who don’t have such programs on the job.
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AARP has always believed in the value of older workers, that they can be a genuine asset in the workplace. Now we have new evidence to back that up. In the wake of the Great Recession, we took a fresh look at data about hiring and retaining workers who are 50 and older. The AARP study, “ A Business Case for Workers Age 50+,” which came out just last month, not only confirmed earlier research but also indicated that today the case is even stronger for keeping older employees in the workforce.
Now hiring
Older unemployed workers saw welcome gains in the job market in September as employers expanded their payrolls by a higher than predicted 248,000 jobs. The national une mployment rate for people ages 55 and older fell last month from 4.6 percent to 3.9 percent, a bigger drop than the rate for workers overall, the government said.
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What's the outlook for people out of work for at least six months? Longer unemployment.
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If you have a 401(k) or other retirement plan, you may be waiting even longer before new government standards are imposed that require your financial adviser to act in your best interest.
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Officials at Gallup poll apparently broke out the rose-colored glasses when they reported Thursday that Americans are more optimistic about the availability of good jobs.
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By Susan Jaffe, Kaiser Health News
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The dog days of August brought a slowdown in summer hiring. Employers created a tepid 169,000 jobs last month, less than what economists expected, and the  unemployment rate for older workers inched up to 5.1 percent, the government reported Friday.
Older workers woes
Is there a way to protect some workers - younger as well as older - from job loss during economic downturns? Some might be helped during the next recession if more employers have access to and use what is known as short-time compensation or work sharing. Work sharing is exactly what it sounds like - the sharing or spreading around of the available work when times are tough. Work sharing is not to be confused with job sharing, which is when two workers split the responsibilities of a single job in order to achieve a better balance between their work and nonwork lives.
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Americans continue to be widely divided about labor unions, according to Gallup's annual Labor Day poll. This year's approval rating rose slightly above the last two years, from 52 percent to 54 percent. That's still pretty close to the all-time low of 48 percent in 2009. The all-time high: 75 percent in the mid-1950s.
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