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US – The number of workers age 55 and up grew by 3.5 million from September 2009 to September 2012

The number of workers age 55 and up grew by 3.5 million from September 2009 to September 2012. That represents the lion’s share of the gain of 4.2 million for all workers 16 and older, according to the Bureau of Labor Statistics. Two factors help explain the trend.

First: demographics. In the three years ended in July, 86% of population growth among people ages 25 to 69 came in the 55 to 69 age range, says Richard Johnson, director of the program on retirement policy at the Urban Institute, a nonprofit research group. That increase comes mostly from the baby boomers, who began turning 55 in 2001.

“There are many more Americans turning 55 in recent years than turning 25,” Mr. Johnson says.

Second: changing attitudes. More employers are recognizing that older adults bring skills and experiences to the table that can help the bottom line.

It’s not all good news. While older workers’ unemployment rate is lower, when they lose a job they’re unemployed longer—a median of 35 weeks versus 26 weeks for younger folks.

“The problem of age bias hasn’t been solved yet, but attitudes do seem to be improving,” says Sara Rix, senior strategic policy adviser with the Public Policy Institute at AARP, the Washington advocacy group…

Choosen excerpts by JMM from

via Where the Jobs Are for Older Workers – WSJ.com.

Discussion

4 thoughts on “US – The number of workers age 55 and up grew by 3.5 million from September 2009 to September 2012

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    Posted by Amedar Consulting | October 23, 2012, 3:34 am

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  1. Pingback: US / Why Is Labor Force Participation Shrinking? « Job Market Monitor - November 14, 2012

  2. Pingback: UK / More than 1 in 3 will work past 65 and 35% will work past retirement age « Job Market Monitor - November 15, 2012

  3. Pingback: US / Birth Rate Falls to a Record Low, Worse Among Immigrants « Job Market Monitor - November 30, 2012

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