Why are older workers staying on the job?
And what does it mean for younger workers?


Younger workers are facing a conundrum: Older workers aren't getting out of the way. America's aging workforce is keeping those older workers on the job longer than ever — and blocking pathways to advancement for people just starting their careers.
"The fastest-growing segment of the labor force is the 75-and-older worker," said The Christian Science Monitor. Many older Americans prefer to stay active as they get older. "This is my exercise," said Pat Callahan, a New Jersey resident in her mid-70s. But many older workers cite "not being financially secure" as a big reason they stay on the job, Vox said. A quarter of people over the age of 59 report having no retirement savings, but a third of Americans over age 65 do have mortgage payments to make.
That has led to "career ladder gridlock," which is locking younger workers "into lower-paying, junior-level roles," Axios said. One survey shows that a third of Americans don't expect to retire until age 70 or later — which makes sense since people are generally "living longer and staying healthier as they age." But that's frustrating for the people stuck behind them. If "there's no space for you to move," said career expert Jasmine Escalera, "then your earning potential is actually stalled."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
What do the commentators say?
"The U.S. workforce is now packed with five generations," Aden Barton said in The Washington Post. That includes folks from the so-called "silent generation" born before 1945 — think Joe Biden — all the way down to Gen Z youngsters. That's an unprecedented "demographic traffic jam" that has dimmed career prospects for younger workers. What changed? Pensions have largely disappeared; meanwhile, the age to collect full Social Security benefits rose to 67 in the 1980s. What should be done? The first move should be to "encourage more start-ups." But smart businesses will find ways to "keep older workers involved without shutting out young talent."
"Millions of people don't have enough money for a comfortable old age," Peter Coy said in The New York Times. Working longer is a "partial solution" to that challenge: Americans spent nearly 20 years in retirement in 2010, up from just 13 years in 1970. But staying on the job isn't necessarily the right answer for Americans whose jobs are "physically, mentally or emotionally taxing." The answer? It's time to shore up Social Security — and complement it with a government-sponsored "automatic-enrollment pension plan" for workers whose jobs don't provide the necessary retirement benefits.
What next?
Middle-class households have saved a median of $66,000 for retirement, said CBS News. That's a "far cry" from the $1.5 million that a "typical worker" would need to fund a "comfortable" retirement. Work has become the default option. "Many are saving for retirement," said Catherine Collinson of the Transamerica Institute to CBS, "but the question is whether they are saving enough."
A growing number of workers have decided not to choose between retirement and working. Instead, they're taking a third option: "Phased retirement." A third of workers 50 and older say they have started "reducing their work hours or job responsibilities" as they get older, NewsNation said. That can work out well for both older and younger employees. "Companies want to hang onto experienced employees," said one analyst, "and encourage them to pass on their wealth of knowledge to younger employees."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Joel Mathis is a writer with 30 years of newspaper and online journalism experience. His work also regularly appears in National Geographic and The Kansas City Star. His awards include best online commentary at the Online News Association and (twice) at the City and Regional Magazine Association.
-
What does the Le Pen verdict mean for the future of French politics?
TODAY'S BIG QUESTION Convicted of embezzlement and slapped with a five year ban on running for public office, where does arch-conservative Marine Le Pen go from here — and will the movement she leads follow?
By Rafi Schwartz, The Week US Published
-
Discount stores were thriving. How did they stumble?
The Explainer Blame Walmart — and inflation
By Joel Mathis, The Week US Published
-
Kaja Kallas: the EU's new chief diplomat shaping the future of European defense
In the Spotlight Former Estonian Prime Minister's status as an uncompromising Russia hawk has gone from liability to strength
By David Faris Published
-
Discount stores were thriving. How did they stumble?
The Explainer Blame Walmart — and inflation
By Joel Mathis, The Week US Published
-
Safe harbor: Gold rises as stocks sink
feature It's a golden age for goldbugs
By The Week US Published
-
The battle over Jamaican rum
Under The Radar The spirit that defines the Caribbean is at the middle of a legal fight
By Rebekah Evans, The Week UK Published
-
What does Musk's 'Dexit' from Delaware mean for the future of US business?
Talking Points A 'billionaires' bill' could limit shareholder lawsuits
By Joel Mathis, The Week US Published
-
Could a private equity deal be the end of Walgreens?
Today's Big Question The pharmacy chain will be taken private in a $10 billion deal
By Justin Klawans, The Week US Published
-
How will the Fed manage Trump's economy?
Today's Big Question Jerome Powell is 'in a bind'
By Joel Mathis, The Week US Published
-
Why are CEOs having second thoughts about Trump?
Today's Big Question Tariff threats and economic warning signs create corporate uncertainty
By Joel Mathis, The Week US Published
-
What's Mark Cuban's net worth?
In Depth Not every Trump-era billionaire has gone full MAGA
By David Faris Published