The Growing Trend of Working Past 75
Recent data from the Bureau of Labor Statistics (BLS) shows a steady increase in the number of Americans choosing to work well past the traditional retirement age. This growing segment of the workforce is not just a statistical anomaly; it represents a fundamental change in how aging and retirement are perceived in modern society. While the majority of individuals over 75 are retired, a significant and increasing portion remains economically active, contributing their skills and experience to the labor market.
In 2022, 8.2% of Americans aged 75 and older were part of the labor force, a figure that includes both employed individuals and those actively seeking work. This marks a substantial increase from just a few decades prior. Projections from the BLS indicate that this number is expected to continue its upward trajectory, with the labor force participation rate for this age group projected to climb even higher in the coming years. This means that when you ask, 'what percent of 75 year olds work,' you are looking at a number that reflects a dynamic and growing part of the national workforce.
Why Are More 75-Year-Olds Working?
Several key factors contribute to this rise in late-career employment:
- Financial Necessity: Many seniors find that their retirement savings or pension plans are not sufficient to cover the rising cost of living, healthcare expenses, and other financial needs. Working, even part-time, provides a crucial income supplement to bridge this gap.
- Increased Longevity and Improved Health: Advances in medical science and healthier lifestyles mean that people are living longer and with better health than previous generations. For many, retirement at 65 no longer makes sense when they can expect to live for another two or three decades with a high quality of life.
- Sense of Purpose and Engagement: Work offers social engagement, mental stimulation, and a sense of purpose that can be difficult to replicate in retirement. For many, leaving a fulfilling career can lead to boredom or feelings of isolation, making continued work a choice for overall well-being.
- Flexibility in the Modern Workplace: The rise of part-time, flexible, and remote work options makes it easier for older adults to remain in the workforce on their own terms. These options provide a better work-life balance and are less physically demanding than many traditional jobs.
- Desire for Social Connection: The workplace provides a community and a social network. For many older adults, continued employment is a way to maintain valuable social connections and combat loneliness, a common issue in later life.
Comparing Employment Trends: 65-74 vs. 75+
The growing employment rate for individuals 75 and older is particularly interesting when compared to their slightly younger counterparts. While more people in the 65-74 age bracket work, the growth rate in labor force participation among the oldest segment is significantly higher. The following table provides a comparison of recent labor force participation rates:
| Age Group | 2004 Participation Rate | 2024 Participation Rate (Projected) |
|---|---|---|
| 65 to 74 | 22.0% | 27.1% |
| 75 and older | 6.1% | 8.6% |
This comparison highlights that although a smaller fraction of the 75+ age group is working, their participation rate is rising at a notable pace. The factors driving this trend are complex, but they clearly signal a societal shift away from a fixed retirement age and toward more individualized, health- and financially-driven retirement timelines.
Challenges and Considerations for the Older Worker
While working longer offers many benefits, it is not without challenges. Individuals working past 75 may face hurdles such as:
- Age Discrimination: Despite legal protections like the Age Discrimination in Employment Act (ADEA), older workers can still face biases in hiring, promotion, and retention.
- Potential Impact on Benefits: Earning additional income can affect the taxability of Social Security benefits and may have implications for Medicare premiums. Consulting with a financial advisor is often recommended to navigate these complexities.
- Physical and Mental Strain: Depending on the job, continued work can lead to physical and mental stress. Many older workers seek roles that are less physically demanding and offer more flexibility.
- Balancing Work and Life: The desire to spend time with family, pursue hobbies, and travel can conflict with work responsibilities. Finding the right balance is key to ensuring a high quality of life.
Resources for Seniors Seeking Employment
For older adults looking to enter or re-enter the workforce, a variety of resources can help. Organizations like the AARP Foundation offer programs specifically designed to assist older jobseekers with skill-building, career coaching, and connecting with employers who value experienced talent. The Senior Community Service Employment Program (SCSEP) is another excellent resource that provides training for low-income seniors. Information on these programs and other federal employment data can be found on the Bureau of Labor Statistics website.
Conclusion: A Redefined Vision of Retirement
The question of what percent of 75 year olds work reveals more than just a number; it points to a broader transformation in society's view of aging. For many, the golden years are no longer a period of complete cessation of work, but rather an opportunity to engage in meaningful activity, supplement income, and maintain social connections. While financial needs are a significant driver, the pursuit of purpose and improved health are also key motivators. As the population continues to age, the number of active, engaged seniors in the workforce will likely continue to grow, reshaping the landscape of retirement for generations to come.
