Older Workers Are Growing in Number and Earning Higher Wages
Roughly one-in-five Americans ages 65 and older were employed in 2023 – nearly double the share of those who were working 35 years ago.
Numbers, Facts and Trends Shaping Your World
Roughly one-in-five Americans ages 65 and older were employed in 2023 – nearly double the share of those who were working 35 years ago.
As of the third quarter of 2021, 50.3% of U.S. adults 55 and older said they were out of the labor force due to retirement.
Between February and June 2020, the share of young adults who are neither enrolled in school nor employed has more than doubled.
The 30-year low reflects in part tight labor markets and falling unemployment, but also higher shares of young women at work or in school.
Through both recession and recovery, the share of young adults living in their parents’ home continues to rise. As of 2016, 15% of 25- to 35-year-old Millennials were living in their parents’ home.
Millennial workers are just as likely to stick with their employers as their older counterparts in Generation X were when they were young adults.
For the first time since 1880, Americans ages 18 to 34 are more likely to be living with their parent(s) than in a household shared with a spouse or partner.
Despite improvements in the labor market, Millennials today are less likely to be living independently of their families and establishing their own households than they were in the depths of the Great Recession.
The number of Americans living in multi-generational households, which spiked during the Great Recession, has risen to a record 57 million in 2012, including about one-in-four young adults ages 25-34.
After running up record debt-to-income ratios during the bubble economy of the 2000s, young adults shed substantially more debt than older adults did during the Great Recession and its immediate aftermath—mainly by virtue of owning fewer houses and cars, according to a new Pew Research Center analysis of Federal Reserve Board and other government data. […]
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