More Americans Over 65 Are Still Working

( – Over the past three decades, there has been a significant shift in the perception of Americans toward their professional lives. The traditional notion of working until the age of 65 and then retiring is no longer a universal plan.

Recent data sheds light on the reasons behind this transformation. Not only are a higher percentage of older Americans choosing to remain in the workforce, but they are also experiencing an increase in their earnings.

A recent study by the Pew Research Center, released on December 14, delves into the dynamics of the US workforce.

The findings reveal that 19% of US adults aged 65 or older are actively engaged in work. Impressively, the average income of older workers last year was $22 per hour, a figure not far behind their counterparts in the 25- to 64-year-old demographic. It is noteworthy that this statistic includes part-time workers.

The continued employment of older individuals brings positive implications for the economy. With an aging population, an influx of retirees would place considerable strain on younger workers responsible for funding social security.

Opting to remain in the workforce alleviates this pressure and diminishes the demand for immigrant workers. Moreover, technological advancements have facilitated opportunities for older individuals to work from home or at a desk, and they often demonstrate comparable capabilities to their younger counterparts in such roles.

The surge in older workers commenced in the 1990s, reaching its zenith just prior to the 2020 pandemic. While experiencing a slight decline in the aftermath of the pandemic, the trend has rebounded to a mere 1% below its pre-pandemic peak and is nearly double the figures from 1987.

Projections suggest that this trend will likely continue upward; the qualifications and experience of older workers enhance their prospects in the job market. Coupled with changes in Social Security, the option of continued employment and income generation becomes an appealing choice for older individuals seeking to sustain their quality of life.