Employment for people 55 and older dropped 209,000 last month, the biggest such decline since February 2015, according to the Bureau of Labor Statistics. - CNBC
While hiring in the U.S. rebounded in March, baby boomers who are still in the work force are not doing so great.
While the decline was notable, a one-month change hardly makes a trend. In fact, this age group still has the lowest unemployment level among all cohorts, with a 2.7% jobless rate in March unchanged from February. The overall unemployment rate held steady at 3.8% in March. Month-to-month swings can appear large because of the small sample size of the population survey, ZipRecruiter's labor economist Julia Pollak told CNBC.
Although the number can be volatile, several industries including government and educational services where the employment distribution skews toward older workers have seen"sluggish" growth lately, Pollak pointed out.
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