Number of older workers at record high in US
The number of older workers in the United States is growing faster than any other age group, making it harder for younger job seekers, a study reported on Wednesday.
U.S. workers over age 55 now number 24.6 million, a record high, according to the study of U.S. government labor data by Challenger, Gray & Christmas Inc., an outplacement consultancy. About a quarter of those are 65 or older.
“Employers are learning through experience that most if not all of the long-held common perceptions about older workers simply are not true,” Chief Executive John Challenger said in a statement, adding that older workers’ health, productivity and ability to learn are as good as their younger counterparts.
Between 2003 and 2005, employment in the 65-plus age group grew by more than 10 percent, double the rate among 45- to 55-year-olds, Challenger reported, as more people choose to stay at work or find new jobs in retirement.
Older workers are taking less time to find jobs and fewer of them are filing age-discrimination lawsuits.
The trend may mean that soon more than one in four U.S. retirees will be working, a level not seen since 1951, Challenger said.
“The biggest obstacle to the current pace of job growth will not be age bias, but competition from other older job seekers,” Challenger said
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