Ageism and age discrimination are trending up as Americans opt to stay in the workforce longer. Whether they are delaying retirement to boost their savings or "unretiring" after a break, many retirement plans now call for more years of employment. A study from the Pew Research Center found that 19% of U.S. adults aged 65 and over remain employed in 2023, compared to just 11% of adults in that age group back in 1987.
Pew ascribed this rise in older worker employment to better health, a higher Social Security full retirement age, and several other factors. Part of that shift may also be due to the decline in private sector pensions, which provide security for workers in retirement and commonly incentivize workers to retire at a specific age. Workers tasked with funding their own retirements may be more motivated to stay in the labor force longer to boost savings and delay Social Security for larger monthly benefits.
