When will the Boomers retire?
TEXT OF STORY
BOB MOON: Who’s going to take care of all the aging Baby Boomers? Just maybe it’ll be the Baby Boomers. A new study out finds 70 percent of that age group planning to keep right on working past retirement age. Here’s Ashley Milne-Tyte:
ASHLEY MILNE-TYTE: A record-breaking 24.6 million people over 55 are still working. John Challenger’s outplacement firm conducted the study.
JOHN CHALLENGER:“A quarter of those are over 65. In fact that category of worker has grown by over 45 percent in the last decade.”
And he says there will be increasing competition in industries like healthcare as older workers vie with one another for jobs. Still, Deborah Russell of the AARP says it isn’t all good news.
DEBORAH RUSSELL:“Despite the fact that there may be competition, there’s still the challenge of convincing employers that 50-plus workers are a good deal.”
Those with the worst perceptions of older workers, she says, are the youngest managers.
I’m Ashley Milne-Tyte for Marketplace.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
