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According to a Congressional Research Service report, "between age 25 until age 54, labor force participation is fairly consistent and high with approximately 83% being actively engaged in the labor market. Rates begin a substantial decline as workers reach age 55. Just under 62% of those between the ages 55 and 64, and just over 13% of those 65 and older are actively searching for work."
U.S. Congressional Research Service. The Library of Congress: Issues in Aging: Unemployment and Older Workers (RL32757; Jan. 31, 2005), by Julie Whittaker. Text in CRS Web. Retrieved September 10, 2006, from http://www.opencrs.com/rpts/RL32757_20050131.pdf
"This report examines how unemployment has a different impact on the older worker. As workers age, negative--but previously temporary--events such as unemployment may push otherwise firmly entrenched workers out of the labor force. While older workers are less likely than others to experience a spell of unemployment, those older workers who do experience unemployment have a higher of withdrawing from the labor market."
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140 Commonwealth Avenue - McGuinn, 6th Floor - Chestnut Hill, MA 02467
Email: age.work@bc.edu - Phone: 617.552.9195 - Fax: 617.552.9202
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