Trends in Employment of Older Workers
There have been a number of recent articles noting an increase in the employment of older workers. The New York Times ran this article (worth the registration) a week or so ago which provides some interesting facts and statistics. This isn't just about older workers looking for part time jobs to supplement their retirement income. Apparently, employers are starting to bend over backward a bit in an effort to recruit older employees. The article notes that AARP features employers on its website - those that are offering perks, health benefits and flexible schedules. Here are some other interesting statistics from the article:
- At Borders, 16% of its employees today are over 50 as compared to 6% six years ago.
- About one-third of men and one-fourth of women between the ages of 65-69 were working in 2004.
- The percentage of men in that age group still working rose to 33% from 27% in 1994 and the percentage of women in that age group rose to 23% from 18% .
- AARP predicts that one in three workers will be 50 or older within five years.
In light of the recent discussions concerning guidelines on phased retirement, the dwindling of retiree healthcare, the fewer defined benefit plans available to retirees, this is clearly a trend that will continue.