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 from 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.
Don’t miss: The 30 fastest growing jobs in America >
NOW WATCH: Ideas videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.