Aug 2003
…during the 1985 – 2000 period, the percentage of 54 – 65 year olds that worked grew gradually—at 0.40% per year (probably reflecting longer and healthier life spans). However, in the last few years the percentage of 54 – 65 year olds that are working has increased significantly faster. If I’m right, the labor force participation rate (LFPR), which refers to the percentage of a given age group that is employed, for older workers will continue to rise—especially for those over 65. In order for many senior citizens to support themselves, there is (and will be) simply no other alternative.