Catherwood LibraryILR School

Americans 75 years of age and older are increasingly returning to the workforce in the face of inflation and depleted savings. The millions of job opportunities from desperate employers are opening up possibilities to demographics usually ignored, but the opportunity for older Americans to return to the workforce has also been guided by increasing financial pressures that made the opportunity a necessity. The size of the U.S. workforce is nearly back to pre-pandemic levels, but participation remains depressed. By 2030, nearly 10% of the labor force will be over the age of 65, and those over 75 will nearly double. A 2018 Kaiser Family Foundation study found that more than 15 million adults 65 and older are economically insecure, with incomes below 200% of the federal poverty line. Another retirement study suggests that over 80% of retired respondents are worried about inflation.