Tag: unemployment rate
This pattern differs sharply from past recessions. With unemployment soaring to levels not seen since the Great Depression of the 1930s (see Figure 1), questions arise about how older workers are faring. Historically, the very young (ages 16-24) have seen the greatest increase in unemployment when the economy turns down, then prime-age workers (25-54), and…
Deliberately imperiling federal finances should not be an excuse to cut programs for older Americans. It was unsurprising to many when the Treasury announced in mid-October that the federal budget deficit rose 17 percent in Fiscal Year 2018. This increase reflected the tax cut and subsequent spending hikes enacted in the past year. Contrary to…
