Thursday, February 24, 2005

Older Worker Participation Rate Up As US Overall Hits 17-Year Low

The Associated Press is reporting that "[t]he share of the working-age population working or actively seeking a job - known as the participation rate - fell to 65.8 percent in January, the lowest reading in 17 years, according to numbers collected by the Labor Department." However, iIn an article that discusses the difficulty in obtaining a new job after losing one, it also reports that "the rate for workers 55 and older has been rising - perhaps reflecting older workers' concerns about building a nest egg as they look ahead toward retirement," according to analysts.

Source: "Working-Age People With Jobs on Decline" Associated Press (February 24, 2005)

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