Oldest Baby Boomers Remain in Workforce at Highest Rate in Decades

The majority of older Americans are opting not to retire and stay working, reports Fox Business . According to the latest data from the Pew Research Center, almost 30 percent of baby boomers between the ages of 65 and 72 were either working or looking for a job in 2018. The last time engagement was that high for this specific demographic was in the 1950s. According to researchers, the trend is consistent for both males and females. As of 2018, 25 percent of women age 65 to 72 were taking part in the labor force, along with 34 percent of men in the same age range. Older men have not participated at those levels since the early 1970s, according to Pew data. Retirement savings challenges are one of the biggest reasons why Americans are opting to stay employed. According to a recent Government Accountability Office (GAO) study, around 30 percent of Americans over the age of 55 have no retirement savings and no pension plan.