What Retirement? More Americans 65 and Older Are Working Full Time
America's older population has expanded immensely in recent decades, and a rising share of them are working far past the traditional retirement age of 65. In fact, a new study shows that Americans 75 and older represent the fastest-growing age group in the workforce.
New data from the nonpartisan think tank Pew Research Center shows that the number of Americans 65 or older has increased nearly fourfold over the past four decades. This group is less likely to be kicking back in retirement compared to their counterparts in the 1980s.
In 1987, only 11% of adults age 65 or older were participating in the workforce. In 2023, that figure grew to 19%, according to the Pew Research Center's new report. The organization says that the total of 11 million older Americans working today is almost quadruple the number working in the mid-'80s.
And the fastest growing age demographic in the workforce are people who are 75 or older: The study found that 9% of all Americans ages 75 and up are employed today — more than double the share working in 1987 (4%). To put that into perspective, the average age of great grandparents in the U.S. is around 75, and the average life expectancy is now 76.
