Older Americans have lower unemployment rates than younger workers, but those who lose long-held jobs can face months or years of searching, lower pay and financial hardship.
In September 2026, unemployed workers ages 55 to 64 had a median unemployment duration of about three months, but the average exceeded eight months, suggesting some job searches are lasting far longer, according to Business Insider.
Around 173,000 unemployed Americans ages 55 to 64 had been out of work for at least six months. Just 57% of workers in that age group who lost long-held jobs between 2023 and 2025 had found new employment by January 2026, compared with 73% of workers ages 25 to 54.
Age and Salary Concerns Can Complicate Hiring
Some older job seekers suspect age discrimination is making it harder to find work. Others worry that employers see their experience and previous salaries as liabilities when younger candidates may accept lower pay and fewer benefits.
Although research suggests age discrimination can affect hiring, proving it in individual cases is difficult, leaving job seekers with few clear ways to address suspected bias.
Some Workers Settle for Lower-Paying Jobs
After prolonged searches, some older professionals take jobs far below their previous positions or abandon their former careers. Others face mounting financial pressure as savings dwindle and retirement security becomes harder to maintain.
For workers who lose established careers later in life, finding another job can mean accepting a steep pay cut rather than returning to comparable work.
