Older adults are staying in the labor force longer, and younger adults are staying out of it longer. Both trends intensified with the recession and are expected to continue after the economy recovers. One reason: Older workers value not just a paycheck, but the psychological and social rewards.
The American work force is graying — and not just because the American population itself is graying. Older adults are staying in the labor force longer, and younger adults are staying out of it longer.
They have different values, beliefs and lifestyles, but young and old today are disagreeing without being disagreeable. Both also share a fondness for Woodstock-era rock and roll.
While the economic downturn is falling quite heavily on younger Americans, their overall outlook remains optimistic. A new survey also finds Generation Next expressing more liberal views when compared with older age cohorts as well as evidence of increased political engagement.
In the midst of a recession that has taken a heavy toll on many nest eggs, just over half of all working adults ages 50 to 64 say they may delay their retirement — and another 16% say they never expect to stop working.