Though Job Openings Have Reached Pre-Pandemic Levels, Over Half of Older Jobseekers Remain Long-Term Unemployed
The number of job openings rose above 9.2 million in May, and employers are doing more to attract workers, but over half of older jobseekers are still long-term unemployed.
Temporary jobs, usually the first to be added at the beginning of economic recoveries, are now rising. Older jobseekers trying to reenter the job market may view temporary jobs as an onramp back into employment.
The aftermath of the previous jobs crisis provides insight into what many of today's displaced 50+ workers likely will experience in the coming months.
The labor force participation rate for older workers continues to decline, suggesting that many older workers displaced by COVID-19 job loss have left the labor market.
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