Baby Boomers Are Staying in the Workforce Longer
By Bonnie Erbe, Thomas Jefferson Street blog
New data show older folks are working longer, squeezing some young people out of the workforce. From Pew:
When it comes to work, the recession is having a very different impact by age, according to a new report by the Pew Research Center's Social and Demographic Trends project. The downturn is keeping older adults in the workforce longer and younger adults out of the workforce longer. Both of these trends pre-date the current downturn, both have been intensified by it, and both appear poised to outlast it. They are a result of a mixture of demographic, economic and attitudinal changes.
The social and attitudinal changes include a realization on the part of older Americans that many were retiring too early. In the early 1960s, the average age of retirement was 66 and it has fallen continuously over the decades since to a current average of 62. But what some boomers are finding as they start to retire is that early retirement can cause depression, loneliness and a feeling of not being part of the real world anymore.
So many are remaining in the work force, at least part time, which also affords them a more affluent retirement. Go, boomers! I've always thought, you retire and you die. It's not true for everyone. But the fact is, work is often not for money alone.
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Tags: workforce | baby boomers
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Reader Comments
"squeezing?"
"squeezing some young people out of the workforce" how are they "squeezing them out" if the boomer has been holding down the job as a career?
Maybe this younger generation needs to learn some work ethic in order to compete with "old people".
Not a little anti-senior bias there?
Boomers Working Longer
There's much more that need to be said about these trends. Boomers do need to work longer. Retiring at age 62 is too early.
With the new economic conditions, we all need to develop simpler lifestyles -- boomers and Gen X and Y.
This could mean more part-time work for all age groups. And it's a good think. Not a us vs them situation, such as you've described in the article.
You need to look at this issue in more depth.
Rita Blogging at The Survive and Thrive Boomer Guide at http://boomersurvive-thriveguide.typepad.com
Grass roots
Hey Andy of MO
I hope you take A lesson from us Baby bloomers and instead of staying home on the nights that you have city counsel meetings you go see whats happening Because it is hard to stop a train quickly if it is on the move.
The courthouse should have the schedule if not the city hall does. maybe even get yourself a Grass roots group going so you can be prepared for city counsel and town hall meetings.
Don D. Brock
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