Now that America's Senior Citizens' Social
Security benefits are not subject to penalty for earning money
after age 65, the Senior Job Bank arrives to offer a proven,
free and easy-to-use web site for actually 'finding' the perfect
employment opportunity through a worldwide source.
Take a look at these statistics:
At age 50:
75% of the population has less
than $5,000 in the bank for retirement.
At age 65:
45% of Americans depend on relatives
30% depend on charities
23% are still working (most
work until they are no longer physically capable)
Only 2% are self-sustaining.
Many workers look forward to their retirement as
a time to enjoy themselves.
They discuss and plan their retirement as a major event,
during which they no longer have to worry about keeping time
schedules and appointments. They now have the time to pursue
the activities or hobbies they've always wanted to do but
never had the time.
They may even sell their homes and/or move into a smaller
home. Continuing work might be the furthest thing from their
minds, unless, for example, they need extra income or have
a strong desire to pursue a new career.
Some senior citizens would like to continue making use of
their talents and abilities by working. They feel that they
could be useful in helping train younger workers; by performing
tasks that require a particular form of expertise; or by continuing
the type of work they had been doing before they retired.
Some would like to continue working because the income gives
them a greater sense of self-reliance. They prefer remaining
as independent of their children and other people for as long
as they can. By working, they can earn money to carry out
the activities that interest them, such as traveling.
Other senior citizens desire to continue working because
they need to augment their retirement income. Otherwise, they
might have a difficult time making ends meet at the end of
each month. A few senior citizens, for example, worry that
they do not have enough savings to live through a crisis such
as an illness that might involve a long period of hospitalization.
Some might even have to work because their spouses are ill
and are in need of medical care; they need the income to help
pay for medical expenses.
However, four factors hamper their efforts to find
- Although many of today’s senior citizens are better
educated and better trained than senior citizens of the
past, they run into difficulties because companies that
hire senior citizens may want them to perform tasks which
are repetitive, even menial.
- Finding employment opportunities has become more difficult
for senior citizens. Many companies have cut back on their
work force by requiring workers in their late 40s and 50s
to take early retirement. Many companies have also begun
opening up manufacturing plants overseas in order to cut
- In looking for employment, senior citizens must compete
with younger men and women who are also looking for work,
as well as with other senior citizens.
- Senior citizens often have difficulty finding employment
opportunities that offer them the hours that suit them.
Some employers require elderly workers to start work early
in the morning, or to work late into the evening. Many seniors,
now that they have retired, do not want to work at jobs
that require them to wake up early or to return home late.
Older Workers Facts and Figures:
Here are some mature worker statistics which we thought
you would like to know:
Seniors (65+) represent 12.7% of U.S. population, about
one of every eight Americans. About 3.9 million older Americans
were in the labor force in 1997, including. 2.3 million
men and 1.6 million women. Seniors constituted 2.9% of the
U.S. labor force.
Mature adults are not only the fastest growing demographic
segment of the population, they are also the fastest growing
consumer group buying computers and logging on -- 7.6 million
Americans age 50+ are on-line. Americans age 55+ logged
the most usage — 33 hours a month — compared
to an average 24 hours a month by other age groups.
Aging Baby Boomer Generation Facts:
- By 2005, there will be about 55 million workers age 45+
-- about 37% of the labor force. Persons 55+ will represent
14.5% of the labor force. Much of the increase will occur
in the 50-60 year old group. After 2005, there will also
be an increase in the 60-70 year old group.
- Labor force in 2005 - The number of labor force participants
over age 55 will increase by about 33% (from 16 million
in 1995 to 21 million).
- Based on Census Bureau and SSA estimates of population
and labor force participation - In 2005, there will be over
30% more older persons working and over 30% more older workers
- Over the next decade, the aging of the baby boom generation
will substantially increase the number of mature and older
workers and the number of unemployed older workers, below
poverty, and/or economically disadvantaged.
- Not only are individuals living longer after they retire,
but they are healthy enough to continue working or performing
other productive activity longer than previously had been
- The demand for employment services by older workers will
increase as the baby boom generation ages over the next
America's Aging Workforce
- America’s workforce is aging. By 2006, more than
15% of the U.S. labor force is projected to be aged 55 or
older, up from under 12% today.
- There are now more than 33 million individuals age 65
or older living in the U.S. By the year 2030, it is expected
that this age population will exceed 70 million.
- Years of surveys and opinion polls show that human resource
managers view older workers as loyal, dependable, reliable,
experienced, service-minded, with a sense of good judgment,
and knowing they have to give in order to receive.
Our Legacy to the Next Generation of Senior Citizens!