More older Americans are working, and working more, than they used to

Discussion in 'Business & Economics' started by Plazma Inferno!, Jun 22, 2016.

  1. Plazma Inferno! Ding Ding Ding Ding Administrator

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    More older Americans – those ages 65 and older – are working than at any time since the turn of the century, and today’s older workers are spending more time on the job than did their peers in previous years, according to a new Pew Research Center analysis of employment data from the federal Bureau of Labor Statistics.
    In May, 18.8% of Americans ages 65 and older, or nearly 9 million people, reported being employed full- or part-time, continuing a steady increase that dates to at least 2000 (which is as far back as we took our analysis). In May of that year, just 12.8% of 65-and-older Americans, or about 4 million people, said they were working.

    http://www.pewresearch.org/fact-tan...e-working-and-working-more-than-they-used-to/
     
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  3. sculptor Valued Senior Member

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    Time scale is all wrong for any concept of reality.
    Seriously, why waste time and print on an analysis that only covers 16 years, then claim a headline which is grossly misleading?

    The first country to initiate a retirement plan was Otto von Bismarck's Germany in the 1880's, and the retirement age by that plan was 70.
    40 years ago, I worked for a 74 year old well driller. Tales from my family are rife with farmers working till death(usually in their 70s or 80s)

    Younger(age 65) retirement is a creation of the industrial economy of the previous century.
    Add in that the pewresearchers chose a time during which we had a minor and major recession during which many pension plans that hadn't been gutted during the 1990s were wiped out.

    If you are any good at what you are doing, why quit? why retire?
     
    Plazma Inferno! and Russ_Watters like this.
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  5. Yazata Valued Senior Member

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    Given the changing demographics in Europe and Japan particularly, where the percentage of older people is growing relative to younger workers, keeping older people productive and engaged will become more and more important. It's going to be a major growing trend into the future.

    Older workers are uniquely positioned to fit into an economy that features more and more part-time work, more flexible on-call scheduling (work when we need you, vacation when we don't), and more demand for skilled workers. (Who has more actual job experience than the older workers?) What's more, fewer and fewer jobs are heavy physical labor in today's economy, making older workers more suitable.

    I wouldn't like to see younger workers displaced by the older ones, but older workers are a golden resource that will inevitably be tapped, if only to reduce the burdens of a growing dependent class.
     
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  7. Fraggle Rocker Staff Member

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    I'll be 73 next month and I'm still working. Well actually my last job fell apart but I'm interviewing for a new one.

    What else am I going to do--watch TV all day?
     
  8. kmguru Staff Member

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    11,757
    Some thoughts...

    1. I am retired and 68 years of age. I did the Industrial Ecosystems for China in 1983 (CCPIT)...but since then, no one (including India) hired me to match China. But now, it looks like, I am getting nibbles...(Do think about United Nations Our Common Future from 1987)

    2. At this age, I am better than 1983 and made my design as Advanced with Artificial Intelligence...so, may be I can work for a while...And so many people too...due to better medical care and technology.

    3. The western Civilization has BAD Governance. Hence you see all the interesting problems. Whether the Civilization would hit Abyss...before my Advanced version...only time will tell...

    Thank you.
     
  9. iceaura Valued Senior Member

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    I think that was probably the point.
     
  10. Fraggle Rocker Staff Member

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    I kept working until I was 70 (3 years ago), but it's been harder to get a job as my age increases.

    Fortunately, I spent most of my life working for the world's largest municipal government: the County of Los Angeles. (The boroughs of New York are administered separately except for things like fire and police.) So my pension system will probably remain solvent until I die.
     

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