This document analyzes the labor market problems of displaced older workers. Chapter 1 is an introduction. Chapter 2 describes the magnitude of the problems of unemployment, discouragement, and displacement of older workers. The outcomes of unemployment are discussed, with attention to the duration of unemployment, the effects of displacement, and the effects of recessions. The special problems of older women (labor market re-entry, low wage employment, and occupational segregation) are addressed. Chapter 3 covers institutional impediments to employment of older workers, including Social Security regulations and pension plan provisions, the market for part-time jobs, and age discrimination. Chapter 4 offers conclusions. The conclusions are that (1) older workers are not as protected from job loss as is often assumed; (2) labor supply factors may be more important in explaining labor market difference between groups than is usually credited; (3) older workers who continue with their long-term employers or at least in their same occupations increase their chances of being paid properly; (4) older workers who have college education have greater flexibility in the job market; and (5) overall economic expansion is the factor that will most strongly influence the job market for older workers. An appendix gives a method for estimating duration of unemployment. A 64-item bibliography is included. (CML)