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Unemployment Rate for Older Adults Dips Slightly in September

Many people are no longer looking for jobs as hiring decreases

AP Photo/Marcio Jose Sanchez . The nearly 10 million jobs that remain lost exceed the number that the nation shed during the entire 2008-2009 Great Recession. By comparison with September, employers added nearly 1.5 million jobs in August, 1.8 million in July and 4.8 million in June. Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine. The unemployment rate for September fell to 7.9 percent, , the Labor Department said Friday. The September unemployment rate for adults age 55 and older was 6.7 percent, down from 7.7 percent one month earlier. Since April, the jobless rate has tumbled from 14.7 percent. But last month's drop in joblessness reflected largely a drop in the number of people seeking work, rather than a surge in hiring. The government doesn't count people as unemployed if they aren't actively looking for a job.
Including part-time workers who would prefer full-time work and people who have stopped looking for a job, a broader measure of what is called underemployment was 12.8 percent in September, down from 14.2 percent in August.

Many job losses have become permanent

Last month's job gains appeared to reflect mainly temporarily laid-off workers who were recalled to their old jobs, continuing a trend in place since April, rather than people joining new employers. In a worrisome sign, the number of Americans who say their jobs are gone for good rose to 3.8 million from 3.4 million. The September jobs report coincides with other data that suggests that while the economic picture may be improving, the gains have slowed since summer. The economy is under pressure from a range of threats. They include the expiration of federal aid programs that had fueled rehiring and sustained the economy — from a $600-a-week benefit for the unemployed to $500 billion in forgivable short-term loans to small businesses. AARP Membership — $12 for your first year when you sign up for Automatic Renewal Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine. Flowers & Gifts 25% off sitewide and 30% off select items See more Flowers & Gifts offers > So far, U.S. hiring has rebounded quickly compared with previous recessions. Yet the number of people seeking unemployment aid, reflecting the pace of layoffs, remains unusually elevated, with 837,000 jobless claims filed last week. That's about 35,000 lower than the previous week but still historically high. AARP Membership — $12 for your first year when you sign up for Automatic Renewal Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine. More on work AARP Membership — $12 for your first year when you sign up for Automatic Renewal Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine. AARP VALUE & MEMBER BENEFITS See more Health & Wellness offers > See more Flights & Vacation Packages offers > See more Finances offers > See more Health & Wellness offers > SAVE MONEY WITH THESE LIMITED-TIME OFFERS