Thursday, September 24, 2015
The increasing odds that you will die working: The extinction of retirement and the growing old age labor force.
I was greeted by an older gentleman at a local Target store. He slowly smiled and said hello. I nodded and said hello as he proceeded to greet other shoppers. Leaving the store I was greeted by an older cashier. Over the last decade, the retail labor force is seeing a growing number of older Americans. Many don’t envision retirement as working in a low-wage job but that is simply the way of life for many. The BLS estimates that labor force participation rate for those 65 to 74 years of age is going to increase to 31.9 percent in 2022. That is an incredibly high number of older Americans eligible for Social Security still working in the labor force.