Mar 16, 2017

Why you should care about America's rapidly aging workforce

The percent share of employed Americans over 65 is now more than double that of just 15 years ago, Jill Mislinski of Advisor Perspectives points out in a recent blog post.

Here's why you should care:

Expand chart
Data: Bureau of Labor Statistics; Chart: Andrew Witherspoon / Axios

The good: It turns out that working longer is actually good for you, as studies show that those who work longer tend to live longer, too. "Financial consideration aside, the "golden years of retirement" are less personally satisfying than productive employment," Mislinski writes. She points out that this trend started in one of the best economies in recent memory, the late 1990s, when retirement funds were plump.

The bad: There should be no mistaking, however, that some of this shift is the result of growing retirement insecurity, too. Two-thirds of working households aged 55 to 64 retirement savings equal to less than their yearly income, according to the the National Institute for Retirement Security.

The ugly: These data also highlight the bifurcation of the American economy. While it's great that some older Americans are taking advantage of work that is fulfilling and well paying, it's happening at the same time that a shrinking share of prime-age workers are doing the same thing. It's yet another example of how the modern economy is generous to some (usually the affluent and well-educated), while leaving others behind.

Expand chart
Data: Bureau of Labor Statistics; Chart: Andrew Witherspoon / Axios

Go deeper

George Floyd updates

Protesters gather north of Lafayette Square near the White House during a demonstration against racism and police brutality, in Washington, D.C. on Saturday evening. Photo: Jose Luis Magana/AFP via Getty Images

Tens of thousands of demonstrators have been rallying in cities across the U.S. and around the world to protest the killing of George Floyd. Huge crowds assembled in Washington, D.C., Philadelphia and Chicago for full-day events on Saturday.

Why it matters: Twelve days of nationwide protest in the U.S. has built pressure for states to make changes on what kind of force law enforcement can use on civilians and prompted officials to review police conduct. A memorial service was held for Floyd in Raeford, North Carolina, near where he was born. Gov. Roy Cooper ordered all flags to fly at half-staff to honor him until sunset.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:30 p.m. ET: 6,889,889 — Total deaths: 399,642 — Total recoveries — 3,085,326Map.
  2. U.S.: Total confirmed cases as of 11:30 p.m. ET: 1,920,061 — Total deaths: 109,802 — Total recoveries: 500,849 — Total tested: 19,778,873Map.
  3. Public health: Why the pandemic is hitting minorities harder — Coronavirus curve rises in FloridaHow racism threatens the response to the pandemic Some people are drinking and inhaling cleaning products in attempt to fight the virus.
  4. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy software-as-a-service model.
  5. Business: Budgets busted by coronavirus make it harder for cities to address inequality Sports, film production in California to resume June 12 after 3-month hiatus.
  6. Education: Students and teachers flunked remote learning.
Updated 6 hours ago - World

In photos: People around the world rally against racism

Despite a ban on large gatherings implemented in response to the coronavirus pandemic, protesters rally against racism in front of the American Embassy in Paris on June 6. Photo: Julien Mattia/Anadolu Agency via Getty Images

Tens of thousands of people have continued to rally in cities across the world against racism and show their support this week for U.S. demonstrators protesting the death in police custody of George Floyd.

Why it matters: The tense situation in the U.S. has brought the discussion of racism and discrimination onto the global stage at a time when most of the world is consumed by the novel coronavirus.