Baby boomers are retiring in record numbers and with higher life expectancy and better healthcare. But, a record number of people 65 and older are continuing to work
Higher education teachers 65 and older make up 11.3 percent of the workforce, and despite universities trying to buy out older professors, retirement offers are being declined, and 15 percent plan to keep teaching until they’re 80.
The top 11 occupations held by American’s 65 and over, according to SeniorLiving.org, are:
- Management: 320,000 employed; 8.2 percent of the workforce.
- Farmers: 293,000 employed; 29.9 percent of the workforce.
- Retail sales: 269,000 employed; 8.2 percent of workforce.
- Administrative support: 246,000 employed; 8.5 percent of workforce.
- Drivers: 245,000 employed; 7.4 percent of workforce.
- CEO’s: 198,000 employed; 12.8 percent of workforce.
- Retail supervisors: 197,000 employed; 6.1 percent of workforce.
- Janitors: 180,000 employed; 8 percent of workforce.
- Real estate agents: 179,000; 21.1 percent of workforce.
- Elementary and middle school teachers: 152,000; 5 percent of workforce.
- Higher education teachers: 152,000; 11.3 percent of workforce.
“and with higher life expectancy and better healthcare. ” This statement would seem to conflict with your June 8 post re: increasing suicide rates in a part of the population that includes at least some of the people of the so-called “boomer” generation (the older one, since the “millennials” seem be the result of a more recent baby boom). Life expectancy in the US already lags those in other ‘developed’ nations, and has fallen in some states. According to a recent Pew group survey, how to pay for health care, particularly meds, and whether or not Medicare will be cut, is one of the major concerns of Americans.
Hi azure,
In general, boomers have a higher life expectancy because of health progress made in recent decades. However, overall life expectancy is beginning to fall slightly. That’s due to deaths of younger people from drug overdoses, and, in addition, an increase in boomer deaths from suicide, cancer, and obesity.
On health care, right now, boomers who have jobs, in general, have good health care. Boomers who are self-employed, underemployed, or unemployed struggle to get good health care. As for Medicare and Medicaid cuts, we just don’t know what the Trump administration is going to do. It’s all a mystery right now.
As for older adults, medical debt is the No. 1 source of personal bankruptcy filings in the United States and people 65 and older now make up roughly 8 percent of bankruptcy filers, up from 7 percent in 2008.
Rita
Not everyone is made for retirement and would prefer staying busy doing something productive or for the good of society. 65 years old is not the same as generations ago. Great list.
Hi Rebecca,
Yes, some people have rewarding jobs and they continue to work beyond their full-benefit retirement age for Social Security. However, some people keep working because they’re ill-prepared for retirement. Before the Great Recession, about a third of baby boomers were ill-prepared for retirement. Now, it’s about 40 percent.
Rita
It’s interesting what you see in the percentages for each job. Only 5% of seniors are Elementary and Middle School teachers, but 11% are in higher education. That must reflect how active a teacher of young children must be compared to one who teachers older students. And real estate agent might be a second career because 21% of the workforce are 65 plus.
Hi Jennifer,
So many older Americans are continuing to work. It would be interesting to know how many are doing it out of economic necessity and how many don’t want to quit working.
Rita
Great list.Thanks for sharing!