Those of the baby boomer era will celebrate their 65th birthday this year. But don't let their age fool you. There are no plans for retirement for a large number of them.
Numerous amounts of these senior citizens plan to remain in the workforce far beyond retirement age. They are doing so for many different reasons. Some of them continue working because they are still very able bodied and would prefer to continue to stay active. Others enjoy the responsibilities that come along with a career. However, some others remain employed because of student loans that have yet to be completely paid off.
The Federal Reserve Bank of New York conducted a study that shows that older citizens, 60 years and over, still have about $36 billion in loan repayment debt. Over 10 percent of those loans are delinquent.
Whether it is to aid in paying these loans back or to simply stay busy, the elderly are not tapping out of the job market as quickly as they had in the past.
Some senior citizens choose to remain in their current occupations for years beyond retirement and others choose to move on to new and less demanding careers.
To help the elderly find jobs that may interest them, certain employers have teamed up with the American Association for Retired Persons (AARP). These jobs aim to keep senior citizens in the American workforce if they wish to continue. The organizations recognize that the elderly tend to be the most experienced.
Companies such as Home Depot, a home improvement retailer, and Borders Group Inc., a company that sells books, movies, and music, are hiring older employees. These places are offering full time, part time, and seasonal positions to elderly applicants. The companies offer benefits, discounts, and flexible schedules to all employees, both full and part time.
May 31 concluded the annual month long celebration of Older Americans Month, which celebrates the contributions of the elderly. These contributions continue with the significant amount of elderly Americans who still remain in the workforce. Between 2007 and 2010, the amount of citizens over 65 who remained in the labor force rose by 16 percent.
