Tuesday, October 21st, 2014

Seniors Suffer From Recession

AARPSeniors have not escaped the Great Recession unscathed.  A recent report from the AARP Public Policy Institute shows those age 65 and older have lower incomes and higher expenses than they did in 2008.  

Savings and home equity also have taken a hit.  AARP Arizona state director David Mitchell says 10 million American seniors have incomes of less than $900 a month.     

Mitchell says unemployment is also a huge problem for those over 65, with 7 million seniors nationwide looking for work.  The over-65 jobless rate is now double what it was before the recession. 

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