By ANDREA COOMBES
Growing numbers of older adults are finding a nice surprise in the workplace: a "Welcome" sign.
The number of workers age 55 and up grew by 3.5 million from September 2009 to September 2012. That represents the lion's share of the gain of 4.2 million for all workers 16 and older, according to the Bureau of Labor Statistics. Two factors help explain the trend.
First: demographics. In the three years ended in July, 86% of population growth among people ages 25 to 69 came in the 55 to 69 age range, says Richard Johnson, director of the program on retirement policy at the Urban Institute, a nonprofit research group. That increase comes mostly from the baby boomers, who began turning 55 in 2001.
"There are many more Americans turning 55 in recent years than turning 25," Mr. Johnson says.
Second: changing attitudes. More employers are recognizing that older adults bring skills and experiences to the table that can help the bottom line.
It's not all good news. While older workers' unemployment rate is lower, when they lose a job they're unemployed longer—a median of 35 weeks versus 26 weeks for younger folks.
"The problem of age bias hasn't been solved yet, but attitudes do seem to be improving," says Sara Rix, senior strategic policy adviser with the Public Policy Institute at AARP, the Washington advocacy group.
Here are several industries where experts say the outlook is bright for older workers:
Education
School reform at the K-12 level, in particular, may provide opportunities for older workers, says Jackie Greaner, North America practice leader for talent management at consulting firm Towers Watson
"Expectations of teachers are much higher," she says, "but in a way that provides opportunities for other talent to enter the school system—[individuals with] other types of skills and knowledge."
One example: Principal Financial offers a "Happy Returns" program to enable retirees to return to work without interrupting their benefits.
More job areas and complete WSJ article
First: demographics. In the three years ended in July, 86% of population growth among people ages 25 to 69 came in the 55 to 69 age range, says Richard Johnson, director of the program on retirement policy at the Urban Institute, a nonprofit research group. That increase comes mostly from the baby boomers, who began turning 55 in 2001.
"There are many more Americans turning 55 in recent years than turning 25," Mr. Johnson says.
Second: changing attitudes. More employers are recognizing that older adults bring skills and experiences to the table that can help the bottom line.
It's not all good news. While older workers' unemployment rate is lower, when they lose a job they're unemployed longer—a median of 35 weeks versus 26 weeks for younger folks.
"The problem of age bias hasn't been solved yet, but attitudes do seem to be improving," says Sara Rix, senior strategic policy adviser with the Public Policy Institute at AARP, the Washington advocacy group.
Here are several industries where experts say the outlook is bright for older workers:
Education
School reform at the K-12 level, in particular, may provide opportunities for older workers, says Jackie Greaner, North America practice leader for talent management at consulting firm Towers Watson
"Expectations of teachers are much higher," she says, "but in a way that provides opportunities for other talent to enter the school system—[individuals with] other types of skills and knowledge."
Financial Services
"Banks and insurance companies have been forward-thinking about…the aging workforce and what that means for their organizations," says Jacquelyn B. James, director of research at Boston College's Sloan Center on Aging and Work.
"They've been trying to offer more possibilities to older workers to work more flexibly, to reduce their hours when they decide that's what they want to do," she says.One example: Principal Financial offers a "Happy Returns" program to enable retirees to return to work without interrupting their benefits.
More job areas and complete WSJ article
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