As the U.S. economy cooled off in April, the 55+ unemployment rate increased to 3% from 2.6% in March. In April, 175,000 jobs were added, down from the 315,000 jobs added in March. While the total labor force participation rate was unchanged at 62.7%, it decreased slightly for those ages 55+, to 38.4% from 38.6%. Long-term unemployment was also higher among jobseekers 55+ at 28.7%, compared with 20% of jobseekers ages 16 to 54.
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