COVID-19 and Recession Hit Older Workers Hard, Especially Women.
The COVID-19 pandemic and recession have had a big impact on older workers in the US. Older workers, especially those aged 65 and older, have been hit harder by unemployment compared to younger workers. In April 2020, the unemployment rate for those aged 65 and older was 15.43%, higher than the rate for those aged 25-44. Women have also been disproportionately affected, with higher unemployment rates than men across all age groups. This recession is different from past ones in how it has affected older workers, showing a unique challenge for this group in the current economic climate.