The coronavirus pandemic unemployment numbers are numbing. In the three weeks ending April 4, the depressing tally is 16.8 million Americans have applied for unemployment benefits. The unemployment rate for workers age 55+ climbed from 2.6% to 3.3% in March, according to the AARP Public Policy Institute, as job losses began. Experts expect the unemployment rate of the 55+ workforce will swell dramatically in coming months.
“There is a world of hurt, and it’s going to get worse as it spreads,” says Carl E. Van Horn, director of the John J. Heldrich Center for Workforce Development at Rutgers University. “Older workers are being dragged into the abyss.”