News and Information

Working Longer and Older

By In Uncategorized On January 18, 2011

Contrary to what many of us believe, older workers (55+) are keeping jobs longer than ever before.  28 million people over the age of 55 were working last year – increase of 7.6% from pre-recession days. 

And the workforce is older.  Saturday’s New York Times (1/15/2011) had an article with statistics from The Labor Department which amazed me!  “Thirty years ago, one in seven jobs were held by a person 55+ and today one in five jobs are held by 55+ individuals.” 

However when we think about it we are working longer and what was considered old when we were growing up is very different than today.  I remember grandparents as being relatively in-active/retired/golf/cards and today’s grandparents are often raising children from 2nd marriages or helping raise grandchildren.

And there is also the financial piece – many baby boomers lost retirement savings during this last recession and need more working years to replenish funds.