New York Times (11/30/10) Pham, Sherisse
A recent report by the Families and Work Institute and Boston College’s Sloan Center on Aging and Work found that a growing number of people continue to work for pay following their official “retirement.” Even though money is the motivator, they are finding their jobs fulfilling. The center’s study found that 75 percent of participants older than 50 plan to have jobs after they “retire.” About 25 percent of older workers change jobs after age 50, according to the Urban Institute. The Department of Labor estimates that between 2006 and 2016, the number of workers older than 55 will increase 36.5 percent. That means the country will have the grayest labor force since the government started tracking the data. Of workers over age 65, more than 90 percent say they like their jobs, which is higher than the amount of young people content with their occupations. The Sloan Center study shows that retired workers have a better family-life balance, and they are happier than non-working retirees because they enjoy contributing to household expenses, to their families, and to their workplaces. “Older workers describe it as a way of keeping young – that’s often the language they use,” says Sloan Center director Marcie Pitt-Catsouphes. “They want to work because they enjoy the people they are working with or they want to be productive.”
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Culture management will become increasingly important as the baby boomer generation postpones retirement and they are matched more heavily with the millenials.