NEW YORK — Almost 19 percent of people 65 or older were working at least part-time in the second quarter of 2017, the highest in 55 years, before American retirees won better health care and Social Security benefits starting in the late 1960s, Bloomberg reported.
Baby boomers are increasingly ignoring the traditional retirement age of 65. Last quarter, 32 percent of Americans 65 to 69 were employed. Even past age 70, a growing number of seniors are declining to, or unable to, retire. Last quarter, 19 percent of 70- to 74-year-olds were working, up from 11 percent in 1994.
The Bureau of Labor Statistics expects the trend to to continue. By 2024, 36 percent of 65- to 69-year-olds will be active participants in the labor market, the BLS says. That’s up from just 22 percent in 1994.
The full story is available at Bloomberg.