Older White Males Most Unemployed During Recession

Written by Unknown on Tuesday, August 18, 2009 at 2:13 PM

"Jobless rates for men and women older than 55 are at their highest level since the Great Depression, government data show. White men over 55 had a record 6.5% unemployment rate in the second quarter, far above the previous post-Depression high of 5.4% in 1983. The jobless rate for older black men was higher — 10.5% — but more than a percentage point below its 1983 peak. The most remarkable change is in the unemployment rate for black women: 12.2%, far below the historic peak of 20% in 1983. Hispanic unemployment is about 6 percentage points below historic highs, too. In other words, this recession has shrunk the racial gap in unemployment, largely because white men are doing so much worse than usual."

http://www.usatoday.com/money/economy/employment/2009-07-29-oldermales_N.htm?obref=obnetwork

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