Fact Sheets

The recession has increased joblessness among older Americans. These graphs and tables report unemployment rates and how they have varied by age, sex, race, and education since 2007.

The stock market lost 56 percent of its value between September 30, 2007, and March 9, 2009. These losses reduced the retirement savings of American households. Recently, however, a good portion of these losses has been reversed. Equities gained 53 percent between March 9, 2009 and August 31, 2009.

The stock market gained 35 percent between March 9, 2009 and May 5, 2009. For those who held on to their equities, these gains reversed some of the massive losses experienced since September 2007. This fact sheet examines the impact of the ongoing economic turmoil on older households and presents estimates of the retirement account losses to date.

The stock market lost 56 percent of its value between September 30, 2007 and March 6, 2009, a roughly $13 trillion drop. The loss has reduced the retirement savings of many Americans, particularly older adults. This fact sheet examines the impact of the ongoing economic turmoil on older households and presents estimates of the retirement account losses to date.

The unemployment rate for adults age 65 and older reached 6.8 percent in February 2009, the highest level recorded since the federal government began computing reliable unemployment rates in 1948. Senior unemployment rates were particularly high among African Americans, Hispanics, those who did not complete high school, and those in the construction, manufacturing, and leisure and hospitality industries.