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Today, Americans are working later into life than ever before. In fact, workers ages 75 and older are the fastest-growing age group in the workforce, more than quadrupling in size since 1964.
For some, the decision to stay in the workforce is driven by the desire to stay active and engaged in the later years of life. In some cases, these older workers are turning to gig or independent work. These jobs come with more freedom and flexibility than a traditional full-time position and provide an opportunity to earn additional income.
Others simply are not financially prepared to retire. With advancements in medicine and living standards, someone at age 60 can realistically expect to live at least another 20 years, meaning their retirement savings must last for decades. When you factor in rising costs and the broader retirement crisis in America, it becomes clear that reaching a “traditional retirement” is far more challenging than ever before.
Whether for personal fulfilment, financial reasons, or a combination of both, older adults deserve a level playing field in their ability to compete for, obtain, and retain jobs. Unfortunately, it’s far too common that age discrimination proves to be a pervasive barrier in the workplace.
Valued workforce members
According to AARP research, 90 percent of workers age 50-plus believe that age discrimination against older workers is common in the workplace today. And 64 percent of older workers have seen or experienced age discrimination. These numbers are even higher for Black workers (72 percent) and women age 50-plus (67 percent).
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Age discrimination also has a significant impact on our economy as a whole. One AARP report found that age discrimination costs the United States an additional $850 billion to our GDP. This figure is projected to balloon to a staggering $3.9 trillion in 2050. Age discrimination also prevents us from addressing labor shortages, keeping skilled, qualified, and eager workers sidelined.
Older workers should be valued members of our workforce. They bring years of professional and personal experience and have many of the critical attributes that any employer is looking for, including expertise, leadership, maturity and perspective. Yet negative stereotypes and outdated assumptions mean that these workers and job seekers are often treated unfairly.
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