This Chart Shows Why Unemployment Is Terrifying For Older People

The older you are the harder it will be for you to find a job soon after getting laid off.

The relationship between age and long-term unemployment is shockingly strong, as seen in the following chart fromĀ Pew Fiscal Analysis Initiative. Only 21 per cent of people under 25 are long-term unemployed. That number rises to 29 per cent for ages 25-34; and all the way up to 42 per cent for over 55.

This trend occurs for two reasons:

  • Older workers have higher standards
  • and employers prefer younger workers.
chart

Photo: www.pewtrusts.org

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