Women over 55 are a growing part of the workforce

by | Apr 13, 2016 | Productivity | 0 comments

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The labor force keeps getting older. The 55 – plus share will increase from 21.7% in 2014 to nearly 25% in 2024, according to the U.S. Labor Department projections.

More Americans Are Postponing Retirement
The labor force keeps getting older. The 55 – plus share will increase from 21.7% in 2014 to nearly 25% in 2024, according to the U.S. Labor Department projections. That’s a 1.8% annual growth rate, more than three times the rate of the overall labor force.
By contrast, the share of the labor force for those ages 16- 24 is projected to decline from 13.7% in 2014 to 11.3% in 2024.
Boomer women lead the wave of aging workers. Since the start of the Great Recession in 2007, the share of older working women has grown while the % of every other category of U.S. worker – by gender and age – has declined or is flat, according to a Wall Street Journal analysis.
The trend may continue with younger generations. A new survey from Scottrade, a financial services company, found that 7 in 10 millennials expect to keep working during their retirement years to supplement their income. That’s a far higher rate than the 56% of Gen Xers and 39% of Boomers who intend to keep working into retirement.

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