You also have to look at labor participation rate, as discouraged workers who stop looking for a job are not counted in unemployment numbers: http://www.bls.gov

You also have to look at labor participation rate, as discouraged workers who stop looking for a job are not counted in unemployment numbers: http://www.bls.gov/emp/ep_table_303.htm http://www.bls.gov/emp/ep_table_303.htm Note an interesting trend that while the rate drops from 80.2% for 45-54 age to 64.5% for 55-64, it's been trending up since 1992 sharply, while other participation rates have seen a modest decline. This could suggest that people 55-64 are more employable today, but it could also mean they are poorer on average and have to take a job to survive. My money is on the latter.