Older Folks Staying on the Job

The Bureau of Labor Statistics is always a great place for a read when you want good news.  Today’s good news is a piece they’ve done on older workers in the workforce

Most impressive is that there are now 1.1 million people over 75 working. That’s almost double from a decade ago.

A few points of note.

One is that the number of workers over 65 is growing much faster than the workforce in general, and this has been a long term trend.  (Pre-baby boom retirement.)  Although the negative spin might be that they can’t afford to retire, I think the positive spin is that they can’t afford to retire. As people live longer, the idea of a 20 or 30 year retirement should seem ridiculous.  Especially for people who are physically and mentally strong.  If you can’t afford to play 36 holes of golf a day, maybe you should get a job.

More importantly, I suspect that 65 is the new 50.  Jobs are less physically demanding, and work places are more fun.  Being valued in the workplace makes people feel good about themselves.  Being unemployed and looking forward to years of day time television broadcasting must be a drag. 

Net net, I think it’s a good thing that people can and are working longer.

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