Editor’s Note: This story originally appeared on US Money Reserve.
As the population continues to grow, an increasing number of people are extending their careers past the normal retirement age. This trend is influenced by several factors, including economic demand, personal fulfillment, and government policies that encourage increased participation in the workforce.
Another major factor driving this change is increased life expectancy and the subsequent need for continued financial security, especially at a time when pensions and retirement benefits may not be sufficient to cover expenses in the post-retirement years.
The labor force participation rate for people age 65 and older varies widely across the United States, with different economic and cultural factors contributing to more seniors continuing to work past the normal retirement age.
Metro areas, often centers of economic activity with diverse job opportunities and higher educational attainment, provide an environment where older workers can pursue careers that suit their experience and work ability.
To find areas with more people working past retirement years, researchers at the US Money Reserve, a leading distributor of government-issued gold, silver, platinum, and palladium, conducted an analysis. See the methodology at the end for more details.
Here are the major municipal areas where people work after retirement.
15. Los Angeles-Long Beach-Anaheim, CA
- Share of people over 65 in the workforce: 21.1%
- Number of people over 65 in the workforce: 421,205
- Share of population over 65: 15.5%
- Share of workers over 65: 6.1%
- Average wages and salaries for full-time workers over the age of 65: $63,000
- Average wages and salaries for full-time workers aged 16-64: $60,000
14. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Share of people over 65 in the workforce: 21.3%
- Number of people over 65 in the workforce: 228,030
- Share of population over 65: 17.3%
- Share of workers over 65: 6.8%
- Average wages and salaries for full-time workers over the age of 65: $60,000
- Average wages and salaries for full-time workers aged 16-64: $63,000
13. Richmond, VA
- Share of people over 65 in the workforce: 21.4%
- Number of people over 65 in the workforce: 41,620
- Share of population over 65: 16.8%
- Share of workers over 65: 6.5%
- Average wages and salaries for full-time workers over the age of 65: $60,000
- Average wages and salaries for full-time workers aged 16-64: $60,000
12. San Jose-Sunnyvale-Santa Clara, CA
- Share of people over 65 in the workforce: 21.4%
- Number of people over 65 in the workforce: 60,469
- Share of population over 65: 15.1%
- Share of workers over 65: 5.8%
- Average wages and salaries for full-time workers over the age of 65: $80,000
- Average wages and salaries for full-time workers aged 16-64: $100,000
11. Austin-Round Rock-San Marcos, TX
- Share of people over 65 in the workforce: 21.4%
- Number of people over 65 in the workforce: 64,271
- Share of population over 65: 12.2%
- Share of workers over 65: 4.5%
- Average wages and salaries for full-time workers over the age of 65: $63,000
- Average wages and salaries for full-time workers aged 16-64: $65,000
10. Denver-Aurora-Centennial, CO
- Share of people over 65 in the workforce: 21.5%
- Number of people over 65 in the workforce: 81,976
- Share of population over 65: 13.9%
- Share of workers over 65: 5.0%
- Average wages and salaries for full-time workers over the age of 65: $65,000
- Average wages and salaries for full-time workers aged 16-64: $65,000
9. New York-Newark-Jersey City, NY-NJ
- Share of people over 65 in the workforce: 21.5%
- Number of people over 65 in the workforce: 719,633
- Share of population over 65: 17.2%
- Share of workers over 65: 7.0%
- Average wages and salaries for full-time workers over the age of 65: $70,000
- Average wages and salaries for full-time workers aged 16-64: $70,000
8. Baltimore-Columbia-Towson, MD
- Share of people over 65 in the workforce: 21.6%
- Number of people over 65 in the workforce: 101,885
- Share of population over 65: 16.9%
- Share of workers over 65: 6.8%
- Average wages and salaries for full-time workers over the age of 65: $70,000
- Average wages and salaries for full-time workers aged 16-64: $66,000
7. Houston-Pasadena-The Woodlands, TX
- Share of people over 65 in the workforce: 21.6%
- Number of people over 65 in the workforce: 192,716
- Share of population over 65: 12.3%
- Share of workers over 65: 5.2%
- Average wages and salaries for full-time workers over the age of 65: $60,000
- Average wages and salaries for full-time workers aged 16-64: $55,000
6. Columbus, OH
- Share of people over 65 in the workforce: 21.9%
- Number of people over 65 in the workforce: 65,085
- Share of population over 65: 14.4%
- Share of workers over 65: 5.8%
- Average wages and salaries for full-time workers over the age of 65: $50,000
- Average wages and salaries for full-time workers aged 16-64: $60,000
5. Memphis, TN-MS-AR
- Share of people over 65 in the workforce: 22.2%
- Number of people over 65 in the workforce: 41,336
- Share of population over 65: 15.3%
- Share of workers over 65: 6.7%
- Average wages and salaries for full-time workers over the age of 65: $53,000
- Average wages and salaries for full-time workers aged 16-64: $50,000
4. Dallas-Fort Worth-Arlington, TX
- Share of people over 65 in the workforce: 23.6%
- Number of people over 65 in the workforce: 224,689
- Share of population over 65: 12.1%
- Share of workers over 65: 5.3%
- Average wages and salaries for full-time workers over the age of 65: $57,000
- Average wages and salaries for full-time workers aged 16-64: $56,000
3. Salt Lake City-Murray, UT
- Share of people over 65 in the workforce: 24.4%
- Number of people over 65 in the workforce: 38,666
- Share of population over 65: 11.9%
- Share of workers over 65: 5.2%
- Average wages and salaries for full-time workers over the age of 65: $65,000
- Average wages and salaries for full-time workers aged 16-64: $56,000
2. Boston-Cambridge-Newton, MA-NH
- Share of people over 65 in the workforce: 24.6%
- Number of people over 65 in the workforce: 203,639
- Share of population over 65: 17.2%
- Share of workers over 65: 7.4%
- Average wages and salaries for full-time workers over the age of 65: $74,000
- Average wages and salaries for full-time workers aged 16-64: $78,000
1. Washington-Arlington-Alexandria, DC-VA-MD-WV
- Share of people over 65 in the workforce: 25.5%
- Number of people over 65 in the workforce: 230,287
- Share of population over 65: 14.4%
- Share of workers over 65: 6.5%
- Average wages and salaries for full-time workers over the age of 65: $80,000
- Average wages and salaries for full-time workers aged 16-64: $80,000
How to do it
The data used in this analysis comes from the US Census Bureau’s 2022 American Community Survey released in 2023.
US Money Reserve researchers estimate areas by the share of people aged 65 and over in the workforce. People were considered as workers if they were employed or unemployed but were busy looking for work.
The researchers also calculated the total number of people over 65 in the workforce, the share of people over 65, the share of workers over 65, the median wages and full-time wages of workers over 65, and the median wages and full-time wages of workers those aged 16-64.
To improve consistency, metropolitan areas were grouped based on population size: small (less than 350,000), medium-sized (350,000–999,999), and large (1,000,000 or more).
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