Long-Term Unemployment Hits Older Workers the HardestTo get an idea of how many Americans have been out of work for more than a year, envision the state of Louisiana. Yes, the state's population -- around 4.4 million -- is about the same as the number of people who have been jobless for 12 months and counting, according to the latest report from Pew Charitable Trusts.

Meanwhile on Capitol Hill, Congress and President Obama have been gridlocked over a proposed jobs bill, while the private sector reported a slight increase in the number of jobs created created last month.

The Pew analysis showed that 31.8% of the 14 million total unemployed workers have been jobless for more than 12 months, which is double the 2009 percentage. The economic cost of long-term unemployment continues to add up, and the government is forecast to pay $120 billion in 2011 for unemployment benefits, according to figures from Congressional Budget Office, the report said. That's an improvement from 2010, when the government paid nearly $160 billion.

Long-term unemployment continues to affect older workers more than younger ones, according to Pew. More than 43% of unemployed workers older than 55 have been out of work for at least a year compared to just 30% of workers between 24 and 35, the report said.

Older unemployed workers face unique challenges, said Linda Barrington, the managing director of the Institute for Compensation Studies at Cornell University's ILR School. The financial impact on earnings for the long-term unemployed has lasting effect on earnings, which can hurt the ability to plan for a secure retirement. For older job seekers, lower starting salaries may also be a tough pill to swallow in finding a new job.

"When they entered the job market, there was still the paradigm of 'We underpay you when young and overpay you when you are old,'" Barrington said. "But that has changed. Now younger people are getting much higher salaries to start. If you lose your job [and you're on the older side], it may require an adjustment in earnings you are not willing to make."

For older workers, there's also less mobility than for younger workers, she said. Financial commitments such as mortgages and homeownership decrease their ability to relocate, which can limit options for a new job.

Education made little difference in the length of unemployment, the report showed, with long-term joblessness only slightly less prevalent among those with advanced degrees than those with only high school diplomas. The report showed that 34% of unemployed workers held a college degree, compared to 38% of jobless high school graduates.

Have you been unemployed for more than year? Please send me an email about how you are making ends meet.

Catherine New can be reached at catherine.new@huffingtonpost.com.

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cubatraveler

Unfortunately it is not a simple case of ousting Obama and the next empty suit doing anything different. They are all the same, Democrat and Republican, two heads from the same snake serving the same Masters. They are all owned by Wall Street and the international bankers and elites who want one world government (for their own benefit). The future will therefore be extremely easy to predict: More debt, endless wars, a decline in living standards as the dollar becomes devalued, persistently high unemployment and possible Depression.

March 25 2012 at 5:58 AM Report abuse rate up rate down Reply
savemycountry911

Vote for me 'cause I'm your friend.
I'll try that Social-ism again.
I'll spend until we're out of debt.
Then I'll spend some more, you bet.
I am just a spending fool.
Vote for me, 'cause idiots rule................................you know who.

November 05 2011 at 10:17 PM Report abuse +1 rate up rate down Reply
Iselin007

The protesters shut The Viet Nam War down an they'll shut the New World Order down. Maybe you can have fries with your Just in Time?

November 05 2011 at 4:31 AM Report abuse -1 rate up rate down Reply
1 reply to Iselin007's comment
savemycountry911

Protesters are thugs just like their hippie grandparents.

November 05 2011 at 10:15 PM Report abuse +1 rate up rate down Reply
Iselin007

The protesters are coming an they will not take this garbage anymore. The 99% are the new power formerly know as We the people!

November 05 2011 at 4:28 AM Report abuse -1 rate up rate down Reply
1 reply to Iselin007's comment
savemycountry911

Translatlion: Gimme, gimme, gimme, gimme.

November 05 2011 at 10:15 PM Report abuse +1 rate up rate down Reply
Adele

I heard a lunatic broke out of an asylum last Sunday... looked at this site today and there he is

darkcloudcoward3 - IS THERE A REWARD FOR TURNING THIS IDIOT IN?

November 04 2011 at 6:04 PM Report abuse -1 rate up rate down Reply
1 reply to Adele's comment
mrspelosi

I'm curious to know how much the reward is for turning you in dear

November 04 2011 at 11:49 PM Report abuse +2 rate up rate down Reply
Adele

FAIR AND BALANCED..­...
Goldline Internatio­nal, the precious metal retailer that has capitalize­d on conservati­ves’ anxiety about the economy by forging synergisti­c relationsh­ips with right wing TV and radio hosts, is facing a new series of legal challenges after authoritie­s filed criminal charges against the company and its executives yesterday. Several major conservati­ve talkers Glenn Beck and Bill O'Rielly and — including two former GOP presidenti­al candidates — have endorsed and recommende­d Goldine, which critics have long contended is little more than a scam.

After more than a year of investigat­ing, the city attorney in Santa Monica, California­, where the company is based, has filed 19 criminal charges of fraud and theft against the company, in addition to charges against top executives and salesmen, ABC News reports:

November 04 2011 at 6:00 PM Report abuse -2 rate up rate down Reply
1 reply to Adele's comment
mrspelosi

Sorry to see you are so bitter and lashing out uncontrollably. I guess that's what happens when your Obama world comes crashing down all around you dear. I know how you feel. President Obama has really been a great disappointment. Hope and change has been a scam, and I know how upset you must be about that darling.

What do you think about President Obama's Solyndra scandal? And fast & furious too dear.

November 04 2011 at 11:55 PM Report abuse +2 rate up rate down Reply
savemycountry911

evan has been here. He has left a definate odor.

November 03 2011 at 9:49 PM Report abuse +2 rate up rate down Reply
1 reply to savemycountry911's comment
mrspelosi

I thought I smelled something dear. It was a very foul odor.

November 04 2011 at 11:56 PM Report abuse +1 rate up rate down Reply
dc walker

Today, House GOP leaders and freshman lawmakers held a press conference to call for Senate action on the “forgotten 15” jobs bills that the House approved as part of House Republicans’ Plan for America’s Job Creators. The following is a summary of the “forgotten 15” and other stalled legislation listed on the Majority Leader’s Job Tracker website. ......They are passing jobs bills, the Senate is just not going along under Reid......

November 03 2011 at 6:48 PM Report abuse rate up rate down Reply
pete

Gee, what a surprise.

Fixing to retire, government screws that up. Don't get my 20 years in for full pension. No jobs, so living off savings and what was supposed to be my retirement.

But my real sympathies lie with our youth, who are being told they don't have to work because government will support you for as long as you like. Of course, this means you cede your possibility of ever living at a higher standard that the government will pay for you. You can sell and smoke your drugs and keep your mind fogged as long as you have a few pennies to buy your dope, but there will come a time where you will be straight and sober and have to face a simple fact: That which your government is "generous" enough to give you it is also big enough to take away from you.

November 03 2011 at 1:15 PM Report abuse +1 rate up rate down Reply
savemycountry911

I hear that lib train comin. It's comin round the bend.
I ain't seen so much stupid since I don't know when.
Obama's stuck on Socialism and the waste goes on.
We'll oust him next November and we'll send him home.
Now that hope and change fiasco, it was just a lie.
When libs find out he's goin, they'll hang their heads and cry.

Tissue?

November 03 2011 at 12:56 PM Report abuse -1 rate up rate down Reply