America's Seniors Are Twice as Likely to Work Now Than in 1985

Just as single-income families started to vanish in the last century, many of the country's seniors are now forgoing retirement for the same reason, reports the Duluth News Tribune (April 22). They simply don't have enough money. Such factors as inadequate retirement savings, soaring health-care costs, and uncertain social safety nets have together made the concept of leaving the workforce something to be more feared than desired. According to a new report from money manager United Income, the participation rate in the labor force of retirement-age workers has surpassed the 20 percent mark for the first time in 57 years. As of February 2019, the ranks of men and women age 65 or older who are either working or seeking paid work doubled from a 10 percent low back in 1985's first quarter. "The biggest spike in employment has gone to college-educated older workers," notes the newspaper. "The share of all employees age 65 or older with at least an undergraduate degree is now 53 percent, up from 25 percent in 1985."