Aging Workforce Stays on the Job Longer, Providing Economic Benefits But Potentially Limiting Opportunities for Younger Generations

The U.S. workforce is aging, with more people 65+ still working. In 2023, 19% of adults 65+ were employed, nearly double the rate in 1987.

Older workers are staying in the workforce longer due to better health, more education, and pension changes that don't force retirement at a certain age.

Jobs today suit older workers better, with less manual labor and more flexibility. However, some older people work out of financial necessity.

More older workers is generally good for the economy but may limit opportunities for younger generations to advance and earn higher wages.

With declining birth rates and immigration restrictions, older workers will be a crucial source of labor force growth, though the net benefit for youth is unclear.