One in Five Americans Aged 65 and Over Works... Doubled in 36 Years

"Live Longer, Live Healthier"
Flexible Work Systems and Remote Work Expansion as Background

One in five Americans aged 65 and older is reported to be working.

On the 14th (local time), The Washington Post (WP) cited a Pew Research report stating that 19% of Americans aged 65 and older are working, nearly doubling compared to 11% in 1987, marking an increase over 36 years.

[Photo by Pixabay]

WP also reported that 62% of elderly workers aged 65 and older work full-time. This figure has increased compared to 56% in 1964 and 47% in 1987.

WP pointed out that the reason for the increase in elderly workers is that they live longer, are healthier, and experience fewer disabilities than in the past.

More flexible working environments compared to the past have also contributed to the rise in elderly workers. The spread of flexible work arrangements, such as adjustable working hours and telecommuting, has made it easier for older adults to work than before.

Government reforms to the Social Security pension system have also played a role in increasing labor participation among the elderly. In the past, the age to receive full Social Security benefits without reduction was 65, but it has now been raised to 67.

Along with these trends, the wage level of elderly workers is also rising. Last year, the median hourly wage for workers aged 65 and older was $22, compared to $25 for younger workers, a $3 difference. In 1987, the wage gap between the two groups was $8.

WP explained that this change is due to a significant increase in the proportion of elderly workers with a college degree or higher. This year, 44% of elderly workers have a bachelor's degree or higher, 2.5 times more than 18% in 1987.

Additionally, WP reported that job satisfaction among elderly workers is higher than that of other age groups.

Meanwhile, according to statistics from the Organisation for Economic Co-operation and Development (OECD), the economic activity participation rate for those aged 65 and older (as of 2021) was 36.3% in Korea, 25.6% in Japan, 20.0% in Sweden, and 18.9% in the United States. Korea's elderly economic activity participation rate reached 37.3% last year, more than double the OECD average of 15.9%.

Globally, employment among the elderly is on the rise. In Germany, the employment rate for those aged 65 to 69 increased from 11% in 2012 to 17% in 2021. In Japan, known as a super-aged society, the employment rate for those aged 60 to 64 is 73%, and for those aged 65 to 69, it is 50.8%, indicating that the majority continue to work after age 60.

This content was produced with the assistance of AI translation services.