As the U.S. population continues to age—due to lower birth rates and the biggest generations (Baby Boomers and Millennials) getting older—the number of older people still active in the workforce is growing. While this graying workforce is helping to drive the economy, experts told Newsweek that it is not all good news.
Data from the Bureau of Labor Statistics shows that the median age of the U.S. labor workforce went from 40 in 2002 to 42.1 in 2012 and 41.8 in 2022. By 2032, the bureau expects the median age to reach 42.7—42.8 for men and 42.5 for women.
A recent Pew Research Center report found that in 2023 roughly one in five Americans aged 65 and older were employed—nearly twice as many as those working some 35 years ago. At the same time, older workers have also increased their earning power, from $13 per hour in 1987 to $22 in 2022, according to the Pew Research…
