This year the youngest baby boomers are now 59 and the oldest are 77, according to the Bureau of Labor Statistics. As more baby boomers reach retirement, good health and financial obligations are driving more to work longer or find a new job.
As baby boomers retire, some are finding it necessary to return to work even in their retirement years. Data released by the Labor Department show that many baby boomers may have worked for the same employer for years, then retired, yet find themselves seeking work thereafter. There hasn’t been a growing trend of retirees doing this yet, but there has been a consistent number.
As of this past month, there are over 11.3 million workers age 65 and older which account for 18.8% of the total population, relative to 25 to 54-year-olds which represent over 103.7 million workers making up 81.0% of the employed civilian labor force.
Source: Bureau of Labor Statistics; https://www.bls.gov/web/empsit/cpseea13
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