Americans 50+ Generate $12.5 Trillion a Year, With 54 Million Still Working

2 articles · Updated · McKnight's Senior Living · Jun 9

$12.5 trillion in annual economic activity now comes from Americans 50 and older, AARP said, putting their contribution on par with the world’s third-largest economy.
More than $2 trillion has been added since 2018 as 54 million people age 50+ remain in the workforce and workers 65+ now account for 8% of U.S. labor—more than double their share 25 years ago.
Older workers are especially concentrated in shortage-hit fields such as senior living and care, where they make up more than one-third of the workforce.
$1.2 trillion in unpaid caregiving and volunteer work came from the 50+ population in 2024; they also provide 59% of elder caregiving, 53% of volunteering and 70% of charitable donations.
By 2060, AARP projects healthcare spending by adults 50+ will more than double, while housing stays a top expense and technology demand keeps rising.

Sources

Right100%

McKnight's Senior Living20h ago

AARP Report: Americans 50+ Contribute $12.5 Trillion Annually to U.S. Economy

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As the 50+ economy doubles to $24 trillion, which industries are failing to adapt to this longevity boom?

Is the $1.2 trillion in unpaid care from older adults a societal strength or a sign of a failing system?

With a decade-long healthspan gap, what breakthroughs can add healthy years to our lives, not just more years?

America’s $12.5 Trillion Age Shift: The Economic and Social Power of the 50+ Population Through 2060

Overview

Americans aged 50 and older are a powerful economic force, generating $12.5 trillion in economic activity in 2024, which is 43% of the U.S. GDP. If this group were a country, it would be the world’s third-largest economy. Their financial impact is expected to keep growing, reaching $24 trillion by 2060 as their numbers increase. This expanding demographic is not only shaping the economy today but will continue to drive growth in the future, highlighting the importance of older adults in the nation’s economic landscape.

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