Older Workers Are Growing in Number and Earning Higher Wages
Roughly one-in-five Americans ages 65 and older were employed in 2023 – nearly double the share of those who were working 35 years ago.
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How Americans View Their Jobs
Most workers are highly satisfied with their relationship with their co-workers and manager, but relatively few feel the same about their pay or opportunities for promotion.
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Amid the pandemic, a rising share of older U.S. adults are now retired
As of the third quarter of 2021, 50.3% of U.S. adults 55 and older said they were out of the labor force due to retirement.
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The pace of Boomer retirements has accelerated in the past year
In the third quarter of 2020, about 28.6 million Baby Boomers reported that they were out of the labor force due to retirement.
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More older Americans are working, and working more, than they used to
More Americans ages 65 and older are employed than at any time since at least 2000, and they’re spending more time on the job.
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Smaller Share of Women Ages 65 and Older Are Living Alone
After rising steadily for nearly a century, the share of older Americans who live alone has fallen since 1990, largely because women ages 65 to 84 are increasingly likely to live with their spouse or their children.
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Family Support in Graying Societies
America is turning gray, with the share of people ages 65 and older expected to rise more than 50% by 2050 – a trend that may burden more families. But Germany and Italy are already there, with a fifth of their population in that age range.
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References
Beard, John R., Simon Biggs, David E. Bloom, Linda P. Fried, Paul Hogan, Alexandre Kalache and S. Jay Olshansky, eds. Global Population Ageing: Peril or Promise? Geneva: World Economic Forum (2011). Bloom, David E., David Canning and Günther Fink. “Implications of Population Aging for Economic Growth,” National Bureau of Economic Research, Working Paper No. 16705 […]
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Chapter 2. Aging in the U.S. and Other Countries, 2010 to 2050
Although the population in the U.S. is getting older and growing more slowly than in the past, the demographic future for the U.S. is robust in comparison with other countries. In particular, the U.S. population is projected to grow faster and age slower than the populations of its major economic partners in Europe and Asia. […]
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