In today’s world, the notion of an older person reaching their 60s and completely leaving the labor force is simply outdated. An AARP analysis of the Employee Benefit Research Institute’s 2017 Retirement Confidence Survey found that close to one-third of retirees have worked for pay since retiring, and according to a TransAmerica Center for Retirement Studies report, two-thirds of Boomers plan on (or already are) working past the traditional retirement age of 65 . . . or never retiring at all.
Hiring was robust in June but only some older workers benefited from that action, according to the jobs report that came out last Friday. Men 55 and older saw their unemployment rate dip to 5.5 percent - down from 5.8 percent in May and 6.6 percent at this time last year.
Good news on the jobs front. Businesses created a not-too-shabby 175,000 jobs in May, pushing down the unemployment rate for older workers, though women fared better than men.
Despite fears of a spring slowdown, the economy continued to improve in April as employers created 165,000 new jobs and the unemployment rate held steady for older workers, the government reported Friday.
Companies loosened their purse strings and hired more of us older workers in August. The unemployment rate dipped to 5.9 percent last month from 6.2 percent for workers 55-plus, the government reported Friday.
Search AARP Blogs