Tag

Aging Workforce

All articles tagged with #aging workforce

Late-Career Layoffs Reframe 60: Not Quite Ready to Retire
business20 days ago

Late-Career Layoffs Reframe 60: Not Quite Ready to Retire

USA TODAY profiles 10 Americans who lost jobs around age 60, illustrating how age bias and financial pressures complicate late-career transitions. The piece explores varied paths—from Cynthia Hennessy shifting from corporate law to Make-A-Wish after a Wienermobile rejection, to the Fannins buying a franchise, to Margaret Bowles becoming an NFL photographer at 74—showing that many 60-plus workers still want or need to work even as Social Security at 62 and Medicare at 65 shape retirement timing. Across these stories, people pivot to contracting, new businesses, or different roles while navigating health-insurance costs and the challenge of staying relevant in a changing job market. The overarching message is that 60+ is a precarious but potentially opportunity-filled inflection point, not a guaranteed exit from work.

Rebooting at 60: practical tips for older workers facing layoffs
career20 days ago

Rebooting at 60: practical tips for older workers facing layoffs

USA TODAY highlights Americans who lost jobs around age 60 and offers practical advice for rebooting careers: don’t panic (allow a brief, finite setback), don’t expect to simply replace the old job, and consider nontraditional paths such as franchising or shifting to new fields; think outside the box, lean on your network for referrals, and use tools from groups like AARP to stay tech-savvy, learn new skills, and tailor your résumé to the past 10–15 years; examples include starting a deck-patio franchise, relocating and reassessing goals, and even pursuing unexpected roles like NFL photography, all underscoring that with planning, networking, and openness to change, older workers can successfully reinvent their careers.

Demographic headwinds—not robots—will reshape US jobs, says Indeed economist
business2 months ago

Demographic headwinds—not robots—will reshape US jobs, says Indeed economist

Indeed’s chief economist Svenja Gudell argues that the US will face a shrinking labor force due to aging Baby Boomers, creating shortages in sectors like healthcare and skilled trades even as AI adoption accelerates. The key challenge is moving workers into in-demand roles through retraining, apprenticeships, and broader talent pipelines, since many shortages arise from demographics rather than automation alone, and mismatches between where jobs exist and where workers can transition will slow growth without proactive workforce planning.

U.S. Workforce Thins as Experts Debate Why Millions Are Leaving
economy3 months ago

U.S. Workforce Thins as Experts Debate Why Millions Are Leaving

About 1 million Americans left the workforce over the past year, with June’s labor-force participation at 61.5%, the lowest since 2021. The unemployment rate fell to 4.2%, but experts say this drop reflects fewer people seeking work rather than more hiring. Causes are debated, including caregiving, burnout, retirements amid stock-market gains, skills shifts, and return-to-office mandates affecting women and workers with disabilities. A shrinking workforce could slow economic growth and worsen long-term labor shortages.

AI or Early Retirement: White-Collar Boomers Reassess the Final Chapter
technology3 months ago

AI or Early Retirement: White-Collar Boomers Reassess the Final Chapter

Older workers face AI's upheaval in white-collar roles: some, including a 53-year-old engineer, are embracing AI and upskilling to stay in the workforce, while others consider early retirement or AI-driven hobbies. Data show lower AI adoption among 50–64-year-olds, yet decades of experience and strong soft skills can help them spot AI output and stay valuable, even as ageism and layoffs loom. The piece highlights a spectrum from adaptation to retirement planning as workers weigh meaning, finances, and purpose in a rapidly automated economy.

Expectations vs. Reality: Most Plan to Work in Retirement, But Few Do
business3 months ago

Expectations vs. Reality: Most Plan to Work in Retirement, But Few Do

The 2026 Retirement Confidence Survey finds about 75% of workers expect to work for pay after retirement, yet only roughly one-third of retirees actually do. The gap has been consistent for decades, with barriers like limited part-time opportunities and the difficulty of re-entering the job market as an older worker. Many cite financial insecurity and rising costs as motivations to keep working in retirement, even as some retirees 'unretire' to earn more or stay engaged.

Lessons from Japan's Aging Workforce for the US Economy
world9 months ago

Lessons from Japan's Aging Workforce for the US Economy

The article compares Japan's successful adaptation to its aging population, with nearly 30% of its citizens over 65 still working, to the US, which has a younger demographic but is also facing an aging workforce. Japan's government supports older workers through legislation, job programs, and healthcare, helping mitigate economic challenges. The US can learn from Japan's policies to better support its aging population, including expanding phased-retirement, training, and job redesign, while addressing issues like healthcare and labor market participation.

BlackRock CEO Larry Fink Challenges America's Retirement Age
financeeconomics2 years ago

BlackRock CEO Larry Fink Challenges America's Retirement Age

BlackRock CEO Larry Fink criticizes the U.S. retirement age of 65 as outdated, suggesting that Americans should work longer due to changing demographics and the strain on the retirement system. However, experts argue that ageism and health issues often force older workers to retire earlier than planned. Fink's comments are notable given BlackRock's influence in retirement accounts, and he also promotes a new target-date fund. He urges his generation, the baby boomers, to address the nation's retirement problems before their leadership positions fade, emphasizing the impact on future generations and the country's collective belief in the future.

"BlackRock CEO Larry Fink Urges Longer Working Years to Tackle Retirement Crisis"
retirement-planning2 years ago

"BlackRock CEO Larry Fink Urges Longer Working Years to Tackle Retirement Crisis"

BlackRock CEO Larry Fink suggests that Americans should work longer before retiring to address the strain on the U.S. retirement system caused by changing demographics and longer life expectancies. This comes amid a debate about the future of Social Security, with some proposing to raise the retirement age. However, experts argue that aging in the workplace and health issues often lead to earlier-than-planned retirements. Fink's comments are notable given his firm's vested interest in retirement accounts, and he also promotes a new target-date fund. He emphasizes the need for public policy changes to make retirement investing more automatic for workers and calls on his generation to help fix the nation's retirement problems.

"The Financial Benefits of Hiring and Retaining Older Workers in Today's Labor Market"
businessemployment2 years ago

"The Financial Benefits of Hiring and Retaining Older Workers in Today's Labor Market"

The U.S. workforce is seeing a surge in employees over 65, with older workers making up a significant portion of the labor force. Employers are recognizing the value of intergenerational teams, as older workers bring loyalty, experience, and a desire to make improvements. Research suggests that teams with a wide age range are more productive, and older workers can help combat burnout. However, pervasive ageism remains a barrier, with many older workers feeling unsupported. To foster age-inclusivity, companies are implementing policies and programs to support and retain older workers, recognizing the need to capitalize on their wisdom and experience.

"China's Aging Builders Face Retirement Challenges After Years of City Construction"
labor-and-economy2 years ago

"China's Aging Builders Face Retirement Challenges After Years of City Construction"

China's aging construction workforce, consisting of an estimated 300 million migrant workers who helped propel the country's growth, now faces retirement with little savings or formal pensions. With rules preventing men over 60 from working on construction sites and a fast-aging population, the country is grappling with the costs of supporting this vulnerable workforce. Many workers lack social benefits due to residency rules and informal employment, and the real estate slowdown has resulted in fewer projects and less work. As a result, many aging construction workers are left with little financial security and are forced to continue working despite their age.

"Working Well Past Retirement: Inspiring Stories of 90s and 100s"
work-and-retirement2 years ago

"Working Well Past Retirement: Inspiring Stories of 90s and 100s"

More Americans are working past the age of 75 due to longer life spans, changing attitudes about retirement, and insufficient savings. The Bureau of Labor Statistics reports that the share of people over 75 working in the U.S. has increased from 5% in 2002 to 8% in 2022, with projections of 1 in 10 people over 75 working by 2032. Three individuals in their 90s shared their advice for building a long and fulfilling career, which includes turning hobbies into careers, investing in relationships at work, and working with people you love. They emphasize the importance of staying active and enjoying what you do, as retirement isn't always easy.

Skilled Trades Face Labor Shortage as Workforce Ages
labor-market3 years ago

Skilled Trades Face Labor Shortage as Workforce Ages

A shortage of millwrights in a Canadian province has highlighted the urgent need to expand recruitment in skilled trades. The Carpenter Millwright's College reports high demand for skilled trades workers, with waitlists for industrial mechanic and carpentry programs. The aging workforce is a contributing factor to the shortage, with the average age of union members being in the mid-50s. There is also a shortage of industrial mechanics, welders, carpenters, scaffolders, and millwrights to fill the available jobs.

Rupert Murdoch's Legacy: A Century-Long CEO and Media Savior
business3 years ago

Rupert Murdoch's Legacy: A Century-Long CEO and Media Savior

Rupert Murdoch's retirement as chairman of Fox News and News Corp has sparked discussions about the age of CEOs and their ability to lead. With the average U.S. life span increasing and retirement age rising, older workers are staying in their jobs longer. While some argue that age brings experience and wisdom, others worry about the potential decline in performance and the lack of opportunities for younger leaders. The debate highlights the need for a conversation about age and leadership, as well as the importance of accommodating and empowering older leaders while also fostering diversity and mentorship between generations.