More older adults are staying in the workforce.
As people live longer, many older adults are forgoing retirement at the traditional age of 65. While many want to continue working to stay engaged and connected, others can not afford any alternative.
Today, over 11 million older adults are in the workforce. By 2030, when all baby boomers are 65 and older, nearly 10% of the workforce will comprise older adults.
With significant demographic changes already at play in the five-generation workforce, finding a place to work into older age is more relevant than ever.
Seniorly, a digital senior living directory platform, analyzed data from the Bureau of Labor Statistics, the Census Bureau, and the Federation of Tax Administrators to rank the best and worst states (plus the District of Columbia), for older workers.
Factoring in a state’s median income, income tax, remote-work policies, labor-force participation, business growth rate, and age-related workplace discrimination, states in the Northeast and West were rated highest as the best places for older adults to work, while Southern states were at the bottom.
Washington topped the list “due to its strong business environment, with no personal income tax and the highest rate of new business growth last year (88.6%),” according to the report. “It also has a high median income for senior households ($63,963) and a strong work-from-home culture (22.4% of older adults are remote).”
It was followed by New Hampshire and Alaska.
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In Mississippi, the worst state for older workers, labor participation among older workers was low, and there were 188 complaints of age-based discrimination per 100,000 workers.
Here are the top 10 best states for older workers:
1. Washington
2. New Hampshire
3. Alaska
4. Maryland
5. Colorado
6. Connecticut
7. Massachusetts
8. South Dakota
9. Utah
10. Vermont
Here are the top 10 worst states for older workers:
42. Oklahoma
43. Georgia
44. South Carolina
45. North Carolina
46. Louisiana
47. Kentucky
48. West Virginia
49. Alabama
50. Arkansas
51. Mississippi
For more on aging:
- The healthiest agers followed this diet, according to a sweeping 30-year longevity study
- These are the top 3 regrets at the end of life, according to a death doula at the bedside of over 1,000 past patients
- JPMorgan warns one major demographic shock rattling the world will lead to a Social Security cliff by 2033