Over-50 Jobless May Be Out of Work for Good

A lot of unemployed Americans over 50 are getting the unhappy sense that they may as well kiss the workforce goodbye—nobody is going to hire them again. Blame the fact that the recovery is so sluggish. At the current rate it will take as long as 8 years for the nearly 15 million jobless to get reabsorbed, and with younger people looking more attractive to employers, older folks are likely to age out before their turn comes.

This is not only harsh news to those who desperately need to work, but ironic since the recession, by destroying nest eggs and the value of their homes, also increased the need to keep working past retirement age. The average time those 55 and older have been out of work was slightly more than 39 weeks in August, the longest of any age group. Another small irony: The longer you're out of work, the more prospective employers wonder why you've been out of work so long, an AARP spokesman tells the New York Times.