Not only are there significnatly more Americans over the age of 65 in the workforce today, compared with 30 years ago, a December 2017 study by SeniorLiving.org says that their numbers are growing rapidly, increasing nearly 35 percent just between 2011 and 2016.

According to a report from the Society for Human Resource Management, the senior segment is projected by the Bureau of Labor Statistics to be the fastest-growing group in the workforce through 2024. While in 2011, 6.6 million Americans age 65 or older were working in the U.S., by 2016 that number had risen to 8.9 million people—an increase of nearly 35 percent.

Whatever happened to retirement? In a word, money. In another, longevity. "Several factors influence how long people stay in the labor force," Jen Schramm, SHRM-SCP, senior strategic policy advisor for labor market issues at the AARP Public Policy Institute, is quoted saying in the report.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.