Older Americans stay in workforce at highest rate in decades
Updated
Updated · CBS New York · May 5
Older Americans stay in workforce at highest rate in decades
7 articles · Updated · CBS New York · May 5
Nearly one in five people aged 65 and older are working or seeking work, as average 2026 Social Security benefits of about $2,071 trail typical single-adult monthly costs of $4,641.
AARP found 20% of Americans aged 50-plus have no retirement savings, while 70% fear prices will outpace income, pushing some retirees into new or physically demanding jobs.
The employment rate for workers 65 and older has risen 117% over 20 years, and the 75-plus workforce is projected to grow 97% from 2020 to 2030.
As millions work past 65, how can workplaces evolve to harness their experience?
Is the American concept of retirement now officially a thing of the past?
With Social Security facing a 23% benefit cut, what radical reforms could save it?
Older Americans Driving 57% of U.S. Labor Force Growth Through 2032: A Comprehensive Analysis
Overview
Older Americans are increasingly active in the labor force, with participation reaching 37.3% for those aged 55 and older in early 2026. This growth is driven mainly by economic necessity, improved health, technological advances, and employers offering flexible work options. Older workers often prefer part-time roles and bring loyalty that helps reduce hiring costs. Their rising participation helps ease labor shortages but also adds pressure on social security and Medicare due to demographic shifts. Age discrimination remains a costly barrier, prompting calls for stronger legal protections. To sustain this trend, policies supporting phased retirement, retraining, and inclusive workplaces are essential.