CHICAGO (UPI) — U.S. workers aged 55 and older have enjoyed the largest comeback of any age group in the slowly recovering economy, a private research group found.
Over the past 28 months, employment among three age categories – teenagers, workers aged 35- to 44-year-olds, and 45- to 54-year-olds – declined, Challenger, Gray & Christmas reported Monday.
Workers aged 20- to 24-years-old added 980,000 jobs in the same time frame. Workers aged 25- to 34-years-old have gained 882,000 jobs since Jan. 1, 2010, the firm said.
Those age 55 and older, however, gained 2,998,000 jobs or 69 percent of the total in employment growth, Challenger, Gray & Christmas said.
Part of the reason behind the trend is thrift. Older workers have experience in various job and can often wear more hats at a company than a younger worker, the firm said.
“A seasoned candidate who brings a wide variety of skills and experience to the table is going to have an advantage over younger candidates. For employers, one experienced candidate is worth two or three younger, greener candidates, in terms of the ability to make immediate and meaningful contributions to output and the bottom line,” said Chief Executive Officer John Challenger.