NEW YORK (MainStreet) — More Americans may be living longer, but as new Census data shows, the lifestyles of the 65 and older set are anything but golden.
More older Americans are expected to be a part of the workforce in the coming years, as the Census report predicts there will be 11.1 million people 65 and older employed by 2018, nearly double the 6.5 million people in this age group who were part of the labor force as recently as 2009. But seniors looking to work in the future may be hampered by a lack of education as they search for jobs.
Older Americans are expected to enter the workforce in larger numbers in the coming years, as the Census predicts those 65 and older will make up about a third of the U.S. workforce in 2030, compared to about a fifth of it today. But seniors looking to work in the future may be hampered by a lack of education as they search for jobs.
While three-quarters of those 65 and older have graduated high school, just 20% have a bachelor’s degree or higher, which may simply be due to a paradigm shift in recent decades about the value of college. Perhaps as a result, less than half of the employed members of this age group currently work in management positions, according to the Census.
The data also paints a mixed picture of the personal lives of older Americans.
Just half of those 65 and older were married in 2009, while more than a quarter were widows, and a tenth were divorced. Some 20% no longer owned their homes and the vast majority (66%) lived with relatives, but whether this was by choice or necessity the data does not say.
One thing seems not to have changed for this age group, though: When it comes time to find a place to retire, seniors tend to gravitate to the warmer climates of California and Florida, which boast the highest populations of people 65 and older in the country, according to the Census data.
For those forced to stay in the workforce a little longer for financial reasons, check out MainStreet’s guide for what to do when you can’t retire.
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