life expectancy gets longer and longer, the age of retirement is getting pushed
back, too, with the highest number on record of Americans aged 85 and up
working, an analysis in the Washington Post presented.
255,000 Americans 85 years old or older were working over the past 12 months,”
writes Andrew Van Dam. “That’s 4.4 percent of Americans that age, up from 2.6
percent in 2006, before the recession.
to the analysis, United State Department of Labor figures show U.S. residents
are working or looking for work at the highest rates on record for every year
of age above 55.
boomers and their parents are working longer as life expectancies grow,
retirement plans shrink, education levels rise and work becomes less physically
demanding,” Van Dam writes.
highest percentage of older workers is in the farming and ranching profession,
with most of the other workers scattered in just 26 of the 455 occupations that
the Census Bureau tracks. Interestingly, less than a third of the total
workforce is in those 26 occupations.
age 85 and older are more common in less physical industries, such as
management and sales, than they are in demanding ones such as manufacturing and
construction,” Van Dam writes.
odds are better that you are over 85 if you are a crossing guard, a musician,
work in a funeral home, or are one of the “product demonstrators like those you
might find at a warehouse club store,” the article states.
While the article did not cite any specific
reasons why an older person would work into their 80s, a photo and caption with
the article shows an 87-year-old man who said he is thinking of becoming a
truck driver to help pay for his wife’s medical bills. This is one common way
that a reverse mortgage can help retirees who qualify, loan originators have
Article author : Maggie Callahan
Article source name : https://reversemortgagedaily.com
Source URL : https://reversemortgagedaily.com/2018/07/12/wapo-record-number-of-older-americans-working/