There's Good News for Seniors Who Want to Work Longer

A report from Boston College's Center for Retirement Research (CRR) estimated that more than 65 percent of people between 55 and 64 were working early this year, up from 63.9 percent in 2015, according to The Motley Fool . The U.S. Bureau of Labor Statistics also said workforce participation among people 65 and older climbed in February 2019 to 25.2 percent from 24 percent in February 2018. An increase in the number of working Americans 55 to 64 since 2015 is positive, in light of other metrics painting a more negative job outlook. The Urban Institute estimated that about 56 percent of adults in their early 50s lost a job involuntarily in the past 25 years due to layoffs, being passed over for promotion, and resignations stemming from conflict with supervisors. The CRR suspects two forces are at work improving job prospects for older Americans. The first is a strong job market, with U.S. workforce participation reaching its highest level in more than 50 years. The second factor is the large number of baby boomers, along with an increase in that generation's average life span.