Older Workers Boost Economy, LGBTQ+ Scam Worries

Key takeaways

• Older workers’ growing role in the economy through sustained employment and consumer activity.
• Caregiving counts toward Medicaid work requirements, easing burdens for family caregivers.
• Why LGBTQ+ adults face heightened concern about online scams and financial losses.

Summary

Older workers, caregiving policy changes and online scam risks shape this week’s look at economic security and digital safety. New research on the longevity economy shows how Americans 50-plus generate massive economic value by working longer and spending more, underscoring their importance to national growth.

The update also explains Medicaid work requirement changes that recognize caregiving as work, offering relief to family caregivers. Finally, survey findings reveal widespread concern among LGBTQ+ adults about online scams, with romance scams causing losses, and gaps in digital safety knowledge leaving some, especially older adults, more vulnerable.

The key takeaways and summary were created with the assistance of generative AI. An AARP editor reviewed and refined the content for accuracy and clarity.

Full transcript

[0:00:04] Americans 50-plus generate enough economic activity annually that they

[0:00:08] would rank as the world’s third largest economy, after the U.S. and China.

[0:00:13] That’s according to the new AARP Longevity Economy Outlook that

[0:00:18] looks at the contributions of older workers and consumers.

[0:00:21] The study finds that not only is the number of older workers growing,

[0:00:25] but they are also working for longer, producing an estimated $12.5

[0:00:30] trillion in economic value in 2024.

[0:00:35] Millions of caregivers may see some relief from new Medicaid work requirements.

[0:00:41] Ongoing family caregivers won’t have to track their hours.

[0:00:45] Some who care for others can even count that time toward Medicaid’s

[0:00:48] 80-hour work, school or volunteering requirement to keep their coverage.

[0:00:54] AARP advocates successfully lobbied policymakers that caregiving is work.

[0:01:01] A new AARP survey finds that 96% of LGBTQ+ adults are worried about online scams.

[0:01:10] Those surveyed showed high activity on digital platforms, which could expose

[0:01:14] them to more sophisticated schemes.

[0:01:17] Nearly a third say they’ve encountered romance scams, with many losing money.

[0:01:22] Experts warn that while awareness is high, gaps in knowing how

[0:01:26] to stay safe online leaves some vulnerable, especially older adults.