Non-Retiring Boomers and Matures Creating Opportunities for Millennials?
Posted On October 18, 2012
Much has been made of Boomers and even Matures working well-past retirement age and potentially denying opportunities to Millennials entering the job market. A new study from the Center for Retirement Research shows that the number of workers staying on after retirement age has steadily increased, whether from necessity or desire, over the last 35 years. However, increased numbers of retirement-age workers corresponds to more opportunities for younger generations, not less.
The study shows that when older workers stay on the job, they create more economic growth and consumer demand, which, in turn, create more opportunities for younger workers. “Older workers create new products and services, raise national income and increase demand for labor throughout the economy,” says one of the coauthors. It may be that they’re not stealing jobs from Millennials but creating them.