The Workforce Saving America's Economy
==========
The U.S. workforce is getting older, with a growing number of people aged 65 and over still working. Data from the Bureau of Labor Statistics shows that the median age of the U.S. labor workforce is increasing. A recent Pew Research Center report found that in 2023, roughly one in five Americans aged 65 and older were employed, nearly twice as many as 35 years ago. Older workers have also increased their earning power. However, many older workers are still working because they have to, not because they want to. Factors contributing to older Americans working longer include changes in pension plans, an uncertain future for Social Security, and a job market that has become more age-friendly. While the rise in the number of older people still in the workforce is good for the economy, it may not be entirely positive for younger generations, as it could limit their opportunities for high-wage, senior jobs. The narrowing wage gap between older and younger workers is mostly due to older people working longer hours and taking full-time jobs. The increase in older workers is expected to be an important source of labor force growth in the country. However, it remains uncertain whether it will be a net benefit for younger generations.
#Workforce #Aging #Economy #Employment #OlderWorkers #LaborMarket #Pensions #SocialSecurity
https://www.newsweek.com/workforce-saving-america-economy-1883529
Newsweek /
npub1ka…2agq5
2024-04-08 08:44:13
Author Public Key
npub1ka5jtasfg8rfe47ypj4x0a2d70fvaksu0u9z9rku70yc8hmjmu9sz2agq5Published at
2024-04-08 08:44:13Event JSON
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"content": "The Workforce Saving America's Economy\n==========\n\nThe U.S. workforce is getting older, with a growing number of people aged 65 and over still working. Data from the Bureau of Labor Statistics shows that the median age of the U.S. labor workforce is increasing. A recent Pew Research Center report found that in 2023, roughly one in five Americans aged 65 and older were employed, nearly twice as many as 35 years ago. Older workers have also increased their earning power. However, many older workers are still working because they have to, not because they want to. Factors contributing to older Americans working longer include changes in pension plans, an uncertain future for Social Security, and a job market that has become more age-friendly. While the rise in the number of older people still in the workforce is good for the economy, it may not be entirely positive for younger generations, as it could limit their opportunities for high-wage, senior jobs. The narrowing wage gap between older and younger workers is mostly due to older people working longer hours and taking full-time jobs. The increase in older workers is expected to be an important source of labor force growth in the country. However, it remains uncertain whether it will be a net benefit for younger generations.\n\n#Workforce #Aging #Economy #Employment #OlderWorkers #LaborMarket #Pensions #SocialSecurity\n\nhttps://www.newsweek.com/workforce-saving-america-economy-1883529",
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