Fewer jobs added in February, but unemployment rate declines

  Employment Overview Overall, the economy added only 20,000 jobs in February, a sharp decrease from the 311,000 jobs added in January (revised up from +304,000) according to the Bureau of Labor Statistics (BLS) monthly Employment Situation data. Meanwhile, the unemployment rate decreased to 3.8 percent overall and to 2.7 percent for those ages 55 and older. The labor force participation rate held steady at 63.2 percent and edged up slightly for the 55+ to 40.4 percent. Employment among the …

Another Shutdown Averted, but Many Americans Still a Paycheck Away from Financial Distress

On Friday Congress passed and the President signed legislation that will prevent another partial government shutdown like the one last month that captured headlines for weeks. But beyond the headlines, the shutdown also served as a very public reminder of a widespread reality in urgent need of solutions: far too many American families are a paycheck away from financial distress. A survey by Prudential of furloughed workers, contractors, and their spouses found that during the shutdown, 40 percent borrowed money …

55+ Unemployment Increases to 3.2 percent

  Employment Overview The unemployment rate increased to 4.0 percent in January according to the Bureau of Labor Statistics (BLS). BLS revised the methodology for calculating employment statistics. Underlying survey data have been revised as part of the annual benchmarking process, updating of seasonal adjustment factors, and updated population estimates. For more information, see The Employment Situation. Overall, the economy added 304,000 jobs in January, up from 222,000 jobs added in December (revised down from +312,000). The unemployment rate for …

Economy Adds 312,000 Jobs in December

Employment Overview The economy added 312,000 jobs in December, a strong increase from the 176,000 jobs added in November (revised up from 155,000), according to the Bureau of Labor Statistics’ (BLS) December Employment Situation Summary. The overall unemployment rate increased from 3.7 percent to 3.9 percent, while the unemployment rate for those ages 55 and older held steady at 2.9 percent. The overall labor force participation rate edged up to 63.1 percent while the rate for the 55+ increased slightly …

Our Most-Read Blogs of 2018

From creating a trailblazing initiative that trains bank employees to identify and report suspected financial exploitation, to shining the light on the detrimental health effects and high costs of social isolation, AARP’s Public Policy Institute kept a frenetic pace in 2018, underscoring its identity as a leading “think-and-do” tank. Throughout the year, PPI researched, crunched data and analyzed critical policy issues facing older adults and presented solutions and findings here. Below, we share our most-read blogs for 2018 in four …

Unemployment Rate Unchanged at 3.7 percent in November

  Employment Overview The unemployment rate remained unchanged for the third consecutive month at 3.7 percent, according to the Bureau of Labor Statistics’ (BLS) November Employment Situation Summary. The unemployment rate for those ages 55 and older edged up slightly to 2.9 percent. The economy added 155,000 jobs in November, down from 237,000 jobs added in October. The overall labor force participation rate was also unchanged at 62.9 percent while the rate for the 55+ increased slightly to 40.2 percent. …