The Aging of the American Work Force

Older Workers Are Keeping a Tighter Grip on Jobs. (New York Times, 1/14/2011)

Excerpt: The Labor Department’s household survey in December found that 28.2 million people over 55 years of age had jobs, an increase of 7.6 percent from three years earlier, when the recession was beginning.

By contrast, there were fewer jobs held by people in all age groups under 55, as can be seen in the accompanying charts. Over all, the number of people working was down by 4.9 percent.

Thirty years ago, one in seven jobs in the United States was held by a person who was 55 or older. Today the proportion is one in five.

Changing demographics can explain part of the change. As baby boomers age, the number of people over 55 has increased. But another reason for the change seems to be that fewer older workers who have jobs are willing to retire while fewer younger people are even looking for work.

Interesting and complementary graphic from Aging & the American Work Force.  (Pew Research, 10/19/2009)