Job Market Is Looking Better For Workers Over 50

According to the U.S. Bureau of Labor Statistics, older members of the workforce have a lower unemployment rate than the general population.

Job Market Is Looking Better For Workers Over 50
Getty Images / Justin Sullivan

The job market has improved for everyone as of late, but it seems workers over 50 are having an especially good recovery. 

According to the U.S. Bureau of Labor Statistics, the 45-and-older workforce has a lower unemployment rate than the 35-44 age bracket, the 25-34 age bracket and the general population. 

This is good news for a group that's been struggling to recover since the recession hit. Computer literacy, high salaries and age discrimination are all factors working against the 50-and-older workforce in the job market. 

But according to Money, companies are starting to see the value in seasoned employees and bring on more of them to work with "formal retraining programs."

"The main reason I applied for the apprenticeship program was the fact that you didn't really have to have such a background in work; you didn't have to have the work experience there," says a young man in a Barclays promotional video.

Similar to Barclays' apprenticeship for teens 16 and older, the global bank will also be hosting an apprenticeship specifically for potential employees 50 and older. 

And while these encouraging programs seem to be popping up more and more, it can still be difficult for older workers who have fallen into long-term unemployment — those who have been unemployed for longer than 27 weeks. The long-term unemployment rate for older workers remains above 30 percent.

This video includes images from Getty Images.