Older Americans have identified the economy as one of the key issues that will decide how they vote in the General Election in November. All Americans continue to cope with the coronavirus and the economic toll it has taken on the country, but older Americans have suffered more economic fallout than other age groups.
What's at stake: Ensuring that older workers can recover from the economic downturn that the nation has faced since the pandemic began.
The issue: In April the unemployment rate for older workers reached its highest level since the federal government began keeping records in 1948, according to Richard Johnson, director of the Program on Retirement Policy at the Urban Institute. Unlike in past recessions, Johnson says, the jobless rate (as of June) was higher for workers age 65 and older than for those 25 to 54.
As employers have moved to open the economy, Americans 50-plus are having to balance their personal health concerns with their need to work. Many older people also have had to take on caregiving duties during the pandemic, which means they may not be able to work at their full capacity.
What older Americans think
According to a poll done for AARP this spring, 58 percent of Americans over age 50 had to contact a credit card company to seek relief from a bill they couldn't pay, and 39 percent said their financial situation had gotten worse since the coronavirus pandemic began.
Where AARP Stands
This story is provided by AARP West Virginia. Visit the AARP West Virginia page for more news, events, and programs affecting retirement, health care, and more.
Wednesday, Oct 21, 2020 at 5:30pm Eastern Time
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