Quote:
Originally Posted by janmcn
This is something that happened to me and everyone I know which might explain the 'no longer looking'. People age 60 who lose their jobs and collect unemployment are counted as unemployed. After the unemployment runs out, people who can't find another job at age 60+ have to live off their savings until social security kicks in at age 62, and therefore are counted as 'no longer looking' or retired.
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Math never was my strong suit in school BUT if a person loses their job at age 60, collects unemployment until it runs out and then has to live off their savings until Social Security kicks in at age 62 - just does not make mathematical sense as a major complaint.
I thought unemployment had been extended for up to 99 weeks. 2 years (from age 60 to 62) equals 104 weeks. That means a person would have to live off their savings for 5 weeks? Those 5 weeks count as the "no longer looking"?