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Older workers who lose jobs have reduced retirement benefits

Unemployment rates for workers over age 55 increased from 3.1 percent in December 2007 to 7.6 percent in February 2010.

By Paula Aven Gladych | Updated on May 17, 2012

Unemployment rates for workers over age 55 increased from 3.1 percent in December 2007 to 7.6 percent in February 2010, before decreasing to 6 percent in April 2012, according to the U.S. Government Accountability Office.

Older workers have fared better than younger workers since the recession because many have tenure at their jobs and are less likely to be laid off than their younger counterparts.

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