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Immigration has dominated the conversation around today’s labor market, but another force reshaping employment conditions is the steady exit of older Americans from the workforce.
The share of Americans aged 55 and older who are working sits slightly above 37 percent, according to the most recent data from the Bureau of Labor Statistics. This is the lowest level since April 2005 and has been steadily declining since the COVID-19 pandemic.
Age is playing a central role in the downward trend, as the youngest Baby Boomers are 62. With millions of Americans turning 65 this year, the demographic shift will persist, experts say.
But rising home values and a surging stock market have also supported older workers’ decision to step aside from professional life and ease into a game of pickleball and sleeping in….
The share of Americans aged 55 and older who are working sits slightly above 37 percent, according to the most recent data from the Bureau of Labor Statistics. This is the lowest level since April 2005 and has been steadily declining since the COVID-19 pandemic.
Age is playing a central role in the downward trend, as the youngest Baby Boomers are 62. With millions of Americans turning 65 this year, the demographic shift will persist, experts say.
But rising home values and a surging stock market have also supported older workers’ decision to step aside from professional life and ease into a game of pickleball and sleeping in….
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