http://www.retirementpolicy.org/ URBAN INSTITUTE Program on Retirement Policy Number 10, December 2013 Retirement Security Data Brief The labor market did not improve much in the third quarter of 2013. The overall unemployment rate dipped to 7.3 percent, down more than 2 points from 2010, but it was still substantially higher than in 2007, before the Great Recession began. The share of the population employed also edged up in the third quarter, but it remained well below its 2007 level. Older workers fared somewhat better than their younger counterparts, although older unemployed adults took longer to find work. This brief provides annual and quarterly labor force statistics on older Americans, a growing segment of the workforce. Drawing on data from the Bureau of Labor Statistics’ Current Population Survey, it shows la-bor force participation rates (the share of the noninstitutionalized civilian population that is employed or looking for work), unemployment rates (the share of the labor force that is on layoff or out of work but looking for work), employment-to-population ratios (the share of the noninstitutionalized civilian population that is employed), and the share of unemployed workers who have been out of work for more than six months. Out-comes are generally reported for men and women ages 55 and older and 62 and older, with breakdowns at ages 62 to 64, 65 to 69, and 70 and older, and compared with those at younger ages. Key findings include the following:  The third-quarter labor force participation rate was 40.1 percent at ages 55 and older and 24.4 percent at ages 62 and older (both down slightly from the second quarter). Compared with 2007, participation rates are higher now for older workers but lower for younger workers. However, participation rates for older workers have edged down over the past year.  The unemployment rate for older workers increased marginally in the third quarter, rising to 5.2 percent for those ages 55 and older and 5.0 percent for those ages 62 and older.  The employment-to-population ratio decreased slightly over the past quarter for older workers, though it remains higher than it was before the Great Recession began.  Nearly half of unemployed workers ages 55 and older have been out of work for more than six months. Labor Force Statistics on Older Americans, Third Quarter 2013 Richard W. Johnson and Benjamin G. Southgate Labor Force Statistics on Older Americans 2 Program on Retirement Policy Table of Contents Labor Force Participation Rates Figure 1: Labor Force Participation Rates by Year and Age, Persons Ages 16 and Older (%) ...................................... 3 Figure 2: Labor Force Participation Rates by Year and Age, Men Ages 16 and Older (%) ............................................4 Figure 3: Labor Force Participation Rates by Year and Age, Men Ages 62 and Older (%) ........................................... 5 Figure 4: Labor Force Participation Rates by Year and Education, Men Ages 62 and Older (%) ................................6 Figure 5: Labor Force Participation Rates by Year and Age, Women Ages 16 and Older (%) ...................................... 7 Figure 6. Labor Force Participation Rates by Year and Age, Women Ages 62 and Older (%) ..................................... 8 Figure 7. Labor Force Participation Rates by Year and Education, Women Ages 62 and Older (%) ...........................9 Unemployment Rates Figure 8: Unemployment Rates by Year and Age, Persons Ages 16 and Older (%) ..................................................... 10 Figure 9: Unemployment Rates by Year and Age, Men Ages 16 and Older (%) .......................................................... 11 Figure 10: Unemployment Rates by Year and Age, Men Ages 62 and Older (%) ........................................................ 12 Figure 11: Unemployment Rates by Year and Education, Men Ages 62 and Older (%) .............................................. 13 Figure 12. Unemployment Rates by Year and Age, Women Ages 16 and Older (%) ................................................... 14 Figure 13. Unemployment Rates by Year and Age, Women Ages 62 and Older (%) .................................................. 15 Figure 14. Unemployment Rates by Year and Education, Women Ages 62 and Older (%) ........................................ 16 Employment to Population Ratios Figure 15: Employment-to-Population Ratios by Year and Age, Persons Ages 16 and Older (%) .............................. 17 Figure 16: Employment-to-Population Ratios by Year and Age, Men Ages 16 and Older (%) ................................... 18 Figure 17: Employment-to-Population Ratios by Year and Age, Men Ages 62 and Older (%) ................................... 19 Figure 18: Employment-to-Population Ratios by Year and Education, Men Ages 62 and Older (%) .............