In The Latest Jobs Report, Older Workers Tell Us A Lot About The Economy

Over the last 20 years, older workers have made up the vast majority of the expansion in the labor force in the United States. While the number of workers ages 25 to 54 grew by 1.1 million, the number of older workers increased by more than 18.1 million. Looking forward, out of 7.7 million workersThere are 37 million workers older than 55, and their share of the labor force is growing faster than any other segment.

This group’s sheer scale means that where the status of older workers goes, the status of all workers will follow. Attention must be paid.for older workers for October 2022 is 2.5%, a blip up, but essentially the same as September’s remarkable low rate of 2.4%. These numbers represent a return to normal. Unlike during the pandemic, the unemployment rate for younger workers ages 25 to 54 is now higher than for older workers, which historically was the norm.

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