Originally published 12/14/18
The number of workers aged 65 or older is projected to grow by an enormous 58 percent between 2016 and 2026, according to Bureau of Labor Force Statistics' projections. Older workers will account for the 51 percent majority of the overall 10.5 million increase in the labor force during the next decade.
Numerical (and %) change in labor force, 2016 to 2026
- Under age 35: 1% (+633,000 workers)
- Aged 35 to 64: 5% (+4.5 million workers)
- Aged 65-plus: 58% (+5.3 million workers)
By 2026, one in three men and one in four women aged 65 to 74 is projected to be in the labor force. Among those aged 75 or older, labor force participation is projected to rise from 8 to 11 percent over the decade.