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toomuchtodoyesterday at 10:34 PM1 replyview on HN

Total Boomer cohort doesn't reach at least 65 until 2029-2030 per the US Census. One does not qualify for Medicare until 65. It matters because 55+ working age population cohort is load bearing in the US labor force at the moment.

https://www.census.gov/library/stories/2019/12/by-2030-all-b...

https://www.accurate.com/blog/how-the-retirement-boom-has-im...

Are Older Workers Propping Up The U.S. Economy? - https://seekingalpha.com/article/4531829-older-workers-propp... | https://archive.today/sKeyE - August 9th, 2022

> There are now 20 million more 55+ employed than there were in 2000, an equivalent of the entire workforce of Spain. This unprecedented demographic / employment transition is worth a closer look. As the second chart shows, some of this increase is due to the rising population of Americans over 55 years of age - an increase of 42 million. In 2000, 30% of those 55 and older were employed. Today, over 37% are employed - a significant increase in the percentage of 55+ people who are working. In 2000, only 17.6% of the 55 and older populace had a job. Now the percentage is 37.5% A 20% increase in the percentage of 55+ who are employed in a 20-year span is unprecedented. If the percentage of employed 55+ had stayed the same, there would only be 17 million 55+ workers today. Instead, there are over 37 million. This raises a question: why are so many older workers continuing to work longer than they did in 1990 and 2000?

(obviously, older workers are continuing to work because they cannot afford not to, although I'm sure there is some amount of folks who continue to work despite not financially needing to)


Replies

drillsteps5today at 2:08 AM

Even if you define Gen X birth years starting at 1965 (and not 1961 as some do), their oldest are already 61. So anybody between 55 and 61 is a Gen X, not a boomer. And for the 55+ group employment participation rate has been decreasing. Which does not mean that "boomers are retiring", it's Gen X's turn now.