Rising Number of Americans Work Past Age 65
In recent years, a growing share of older Americans have continued working past age 65. According to the Bureau of Labor Statistics in 2024, nearly 20% of people aged 65 and older were either employed or actively seeking work, with over one-third (38.3%) of those who are working doing so part-time. This trend reflects a reversal from earlier decades when labor force participation among this age group declined steadily until the late 1990s. The increase in workforce participation is attributed to longer lifespans, evolving work patterns, and financial pressures that keep some Americans employed later in life. Men are more likely than women to continue working past retirement age—23.4% of men versus 16.2% of women. The shift toward part-time roles suggests a broader redefinition of retirement as a transition rather than an abrupt end. This change has implications for financial planning, emphasizing the need for flexibility in income sources such as Social Security and savings. As more retirees remain active in some capacity, individuals are adapting to new models that blend work with leisure or reduced hours.
Topics: labor statistics older workers retirement trends workforce participation