(CNBC) It's the best—and worst—of times for older workers.
The unemployment rate for Americans 55 and older is lower than for any other age group the government tracks, and far below the national average. But if an older worker loses a job, the length of time that person will stay unemployed is typically much longer than for any other age group.
"There's a much higher prevalence of unemployment among young people, but the time that you spend in that state is much shorter," said Linda Barrington, executive director of the Institute for Compensation Studies at Cornell University.
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