Older Americans staying on the job longer - WAOW - Newsline 9, Wausau News, Weather, Sports

Older Americans staying on the job longer

WASHINGTON (AP) -- A new study out this week finds older Americans will make up virtually all of the growth in the U.S. work force in the coming years.

The Pew Research Center results show a nearly unprecedented number of seniors expected to hold onto jobs, while at the same time younger people remain in school.

That turns into a labor market with a rapidly increasing age, thanks to longer spans, an aging boomer population and the recession making it harder to retire.

Older workers are expected to make up nearly 1 in 4 workers by 2016.

This year, 40 percent of Americans age 55 or older seeking a job - the highest level since 1961.

In contrast, people 16 to 24 who were active in the labor market fell to 57 percent, down from 66 percent in 2000.

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