Julie Crawshaw
MoneyNews.com
21 Nov 2011
Economist Edward Glaeser says rapidly growing numbers of baby boomers aren’t going to be able to retire anytime soon.
“The numbers supply a vivid picture of America’s graying work force,” Glaeser writes in The New York Times.
“Between 2007 and 2010, the number of working Americans over 65 years old jumped 16 percent; the number of under-65’s in the labor force shrank.”
The trend started before the current downturn, says Glaeser: the number of Americans over 65 in the labor force increased from 10.8 percent in 1985 to 12.1 percent in 1995 to 15.1 percent in 2005 to 17.4 percent in 2010.
“Until 2001, most workers age 65 and older had part-time jobs; since 2001, full-time work has been far more common,” he says…
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