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Many baby boomers looking for work rather than retiring

October 26th, 2009 • Related • Filed Under

There are more Americans 65 and older in the job market today than at any time in history, the New York Times reports. That equals 6.6 million older adults in the U.S., compared with 4.1 million in 2001.

Higher debt levels, fewer pensions, the need for health benefits – and maybe even because it’s good for one’s health – are some of the reasons people are working longer. A Pew Research Center report released in September found that nearly four in 10 adults who are working past the median retirement age of 62 say the recession has delayed their retirement.

Among workers age 50 to 61, 63 percent say they may have to work longer. In fact, most of the growth in the U.S. labor force over the next seven years is expected to be among workers 55 and older.

But as the Times reports, finding a new job in this environment is another challenge. Unemployed older workers stay out of work longer — 36.5 weeks on average, 40 percent longer than for the unemployed in general.

Wisconsin job seekers may have an easier time, as the unemployment rate fell across the state in September and skilled workers are in demand. (Read more in the Green Bay Press-Gazette.)

And finally, the good news is that experience is an asset. The experts say to play up generational attributes and accentuate the positive.