Posted on May 29, 2012
More Americans than ever are working past the age of 65, according to Labor Department statistics cited by The New York Times. As longevity and health care improves, and as the economy remains tight, more Matures, along with the leading edge of the Baby Boomers, are deciding to stay on the job. Employment among every age group above 65, including those above 75, has risen steadily.
The ranks of the 65+ in the workforce swelled noticeably in the last year as the first Boomers reached the traditional retirement-age milestone. “The fact of the matter is that this aging-but-not-yet-aged segment of the baby boomer class can’t afford to retire,” said an economist at Canadian firm Gluskin Sheff. Meanwhile, employment among all younger generations, including Boomers under 65, has declined over the same period.
In a related Gallup survey, the average age of expected retirement has risen to its highest level ever at 67. By comparison, most people surveyed expected to retire at age 63 as recently as 2003 and in 1996 the expected age of retirement was 60.
Tags: Baby Boomers , Matures , Work , Workplace
Categories: Baby Boomers,Matures,Work,Workplace
Cam’s Recent Media
- July 22, 2014 - Great Wealth Transfer Will Be $30 Trillion – Yes, That’s Trillion With a T
- July 17, 2014 - 5 Ways to Win Over Gen X Investors
- May 12, 2014 - Don't Let Gen Xers Push You Around
- February 10, 2014 - Master to Apprentice. Apprentice to Master
- November 4, 2013 - Connecting with the Younger Crowd