While many millions of baby boomers are expected to be soon enjoying some form of retirement or moving into senior living facilities, the U.S. jobs numbers and outlook tell a far different story.
Seniors who have never retired reported enjoying their jobs (61 percent) and fearing boredom in retirement (42 percent) as their top reasons for staying in the workforce. Eleven percent of seniors work part-time, and another 11 percent remain in full-time roles. Younger seniors, particularly those aged 65 to 70, are the most likely to continue working.
Among working seniors in the survey, 22 percent so far have “unretired”—that is, they have returned to work because of cost-of-living increases, the need for additional income to cover debt, or, as in the case of Dwayne Bell, the need for a new challenge.
“I tried to retire in 2021 after more than 50 years in the construction and engineering business,” Bell, 75, a resident of Charleston County, South Carolina, told The Epoch Times.
“But I realized instead that there’s nothing else I’d rather do than what I’ve always done, so I started my own consulting business. And at this point, I’m not sure I’ll ever retire in the conventional sense.”
Julia Toothacre, chief career strategist at ResumeTemplates, said one advantage of older professionals is “their willingness to go into the office.”
“While many younger workers are pushing back on the return-to-office mandates, older workers enjoy the office environment and building in-person relationships,” she said in a statement.
The survey also concluded that 6 percent of retirees plan to return to work in 2025.
Other experts predict that the number will be much higher.
For example, based on 2023 findings by Pew Research Center, older adults are projected to account for 57 percent of labor force growth through 2032.
“No other age group saw such a fast increase.”
Jim Link, chief human resources officer with the Society for Human Resource Management, further indicated that seniors are also aided by the tight labor market.
“Today’s workforce is prioritizing flexibility and growth opportunities more than ever, pushing employers to adapt their strategies to retain top talent,” Link told The Epoch Times.
“In today’s tight and competitive labor market, finding candidates with the right skills, experience, and cultural fit is increasingly challenging.”
Professor Joey Von Nessen, a research economist with the Darla Moore School of Business in Columbia, said that from 2000 to 2022 in South Carolina alone, the number of residents older than 55 “increased nearly three times faster than the number of residents between 20 and 54.”
“An aging population means that the average age of the workforce will also likely increase over time,” Von Nessen told The Epoch Times.
“And to the extent that companies have to rely on older workers to help mitigate their labor shortages, this may help white-collar industries more than blue-collar industries.”
In Bell’s case, it was both.
“I also took a part-time job at Home Depot near where I live, and a lot of people there are like me—they got bored and wanted something to do,” he said. “And that’s on top of two of my consulting projects that lasted from late 2022 to mid-2024.”
Toothacre also said that although more seniors in the workforce will soon be the new norm, the adjustment could still carry some age-old discrimination and people “trying to push you out.”
“These judgments won’t apply to everyone, but people need to be aware of them,” she said.
“Regardless of your situation, make sure you have planned financially. If retirement isn’t an option, try to stay in or find a position you’ll enjoy in your later years.”
