[PBS NewsHour]

WATCH: Why More Older Workers are Finding Themselves Unemployed as Retirement Approaches

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Many Americans plan to do the bulk of their retirement saving in their 50s. But what happens if you lose your job at that age instead?

According to researchers, the situation is common, and laid-off older workers have a harder time finding a new job — especially one that pays their previous salary.

PBS NewsHour economics correspondent Paul Solman talks to 59-year-old Jaye Crist, who works three jobs to support his family.