Hot Topics: Unemployment Dips, But Not Much

U.S. unemployment dipped in December, both for the overall population and workers over 45, according to Bureau of Labor Statistics data released Friday. It's good but not great news because new jobs created during the month didn't reach expectations. Bottom line: The ranks of the country's long-term unemployed remained unchanged at 6.4 million and for workers 45 and older, unemployment rates are still triple what they were a decade ago.

In December, overall unemployment dropped to 9.4 percent from 9.8 percent the previous month. For workers 45 and older, unemployment fell to 7.2 percent in December, from 7.4 percent the previous month.

For older workers, those between 55 and 64 had the lowest overall unemployment rate in December, at 6.6 percent, compared with 6.9 percent for over-65-year-olds, 7.6 percent for 45- to 54-year-olds, and 8 percent for 40- to 44-year-olds.

Though employment of midlife and older workers has picked up steadily since the beginning of 2010, unemployment rates are still three times higher than they were a decade ago, when only 2.5 percent of people over 45 were out of work.

Work Longer or Live on Less? Many people would rather work longer than retire and reduce their standard of living. That's the finding of a new study from Boston College's Center for Retirement Research. Pollsters asked 45- to 59-year-olds who had saved $50,000 or more for retirement -- but lost at least 10 percent of their nest egg when the recession hit -- to choose between living on reduced means in retirement or working longer and saving more. More than half (51 percent) said they would keep working and save more, according to the study.

Black to School. Former Hearst Corp. Chairwoman Cathleen "Cathie" Black started her job as head of New York City public schools this week. It's a formidable second act for the 66-year-old publishing industry executive, who will lead the nation's largest school system, with 1.1 million students, 80,000 teachers and 1,400 schools.

Political Second Acts. As one middle-aged actor leaves public life -- former California Gov. Arnold Schwarzenegger -- another is considering a run for public office. Alec Baldwin, the 52-year-old star of 30 Rock, this week told CNN's Parker/Spitzer that he's "very, very interested" in getting into politics as his next gig. Baldwin had previously pondered returning to graduate school.

Brown Sworn in as California Governor (Again). The first time Edmund Gerald "Jerry" Brown, Jr., was governor of California, he was 36 and the country was in the middle of a recession brought on by the Middle East oil embargo. That was in 1975. Thirty-six years later, 72-year-old Brown is the oldest currently serving governor in the country, and he's taking over in the middle of another financial crisis.

The Big 5-0. What do President Obama, Wayne Gretzky, Julia Louis-Dreyfus, George Clooney, Melissa Etheridge, Eddie Murphy and George Lopez have in common? They all turn 50 this year. Other 1961 babies: Michael J. Fox, Boy George, Forest Whitaker, Winton Marsalis, Heather Locklear, Meg Ryan, Ann Coulter, and Susan Olsen, better known as Cindy, the youngest of The Brady Bunch.