“Retirement is becoming a more distant dream for a rising number of older Americans, largely because they need the money but also because they are healthy enough to keep working.
The share of Americans 65 and older in the labor force went from 12.1 percent in 1990 to 16.1 percent in 2010, and the increase was larger for women, according to new analysis of Census data released Thursday.
“As with all age groups, the increase in labor force participation of women has been a driving factor for this overall trend,” said Braedyn Kromer, an analyst in the Census Bureau’s Labor Force Statistics Branch.
The percentage of 65-plus women who are working jumped more than 4 percentage points to 12.5 percent. Men in the same category rose 3.2 percentage points to 20.8 percent. For workers younger than 65, women increased 1.9 percentage points to 69.8 percent, while younger men’s participation dropped 5.2 points to 78.2 percent.
“The data reflect a national economy relying increasingly on older Americans — especially women — working part time,” says retired RAND Corp. demographer Peter Morrison….”
If you enjoy the content at iBankCoin, please follow us on Twitter
