The Rise of Older Workers: Thriving in the Workforce and Boosting the Economy

The older workforce in the US has quadrupled in size since the mid-1980s, with roughly 1 in 5 Americans aged 65 and older now employed, nearly double the share from 35 years ago. Older workers are working more hours, with 6 in 10 holding full-time jobs. Women make up a larger share of the older workforce, and the majority of older workers are white, although their share has fallen. Factors driving this trend include higher levels of education, self-employment, income from pension plans, and employer-sponsored health insurance. Older workers are healthier, gravitate towards age-friendly positions, and are more likely to enjoy their jobs. They accounted for 7% of all wages and salaries paid by employers in 2023, with their earning power increasing significantly.