Research Study: Older Workers, the Great Recession, and the Impact of Long-Term Unemployment

While workers of all ages and backgrounds have been affected by the Great Recession, older workers (age 55 and up) have fared especially poorly. Though less likely to become unemployed than younger workers - those 55 and over had an unemployment rate of 7.2% in December 2010 compared to 8.5% for workers age 25 - 64 -- once they do lose their job, they are likely to remain out of work longer (Pew Fiscal Analysis Initiative, 2011).

http://www.heldrich.rutgers.edu/sites/default/files/content/Heldrich_Center_Older_Workers_Brief.pdf

This article definitely hits home for me and I'm sure many others on this site. Even though my wife works our income level has been cut in half and we have given up many things BUT my biggest concern is our debt keeps increasing. Just like the Federal government we are taking in far less than what we owe. I honestly see bankruptcy in our future if I don't find work soon. Additionally, we can't afford health insurance and because of pre-existing conditions what we could get is way above what we could ever afford at this point. One serious medical problem will in all liklihood put us down. Personally I see no end to the dark days we are in but instead I do see it getting much worse. God help us all.

This hits home with me as well. I haven't had health insurance in three years. I am blessed to have a primary care doc in my small town who understands the issues the unemployed face and only charges a nominal fee for a three month check up and prescription refills (generic which I get at WalChina-Mart for $10 for a 3 month supply). God help me if a serious issue arose, I don't know what I would do.

I lost my job prior to the subsidy for COBRA was enacted, therefore, I wasn't eligible for that either.

They just covered this on MSNBC.

gettheminNOVEMBER wrote:They just covered this on MSNBC.

Really? I'm watching The Price Is Right and sorry I missed that on MSNBC. What did they say?