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Nearly a fifth of people 65+ are working – the highest share of older workers in more than 50 years.
Bloomberg reports on the latest U.S. jobs report that shows older Americans are working more and those under 65 are working less. The Bureau of Labor Statistics is predicting more than a third of 65 to 69 year-old will be active participants in the labor market in 2024.
Several factors are influencing this trend. On the positive side, older people are healthier and living longer and want to stay active. Other the negative side, some can’t afford to retire. The decline of the traditional pensions have made it harder to save enough for a comfortable retirement.