As the retirement age continues to increase, it’s not surprising that many people are working past age 65. For some the reason may be a need to stay active and intellectually stimulated, but for many the reasons are financial. Retirement savings took a huge hit during the financial crisis and employees are still trying to recoup their losses. In addition, the Great Recession caused many businesses to put promotions and salary increases on hold. Layoffs were also common in many industries. This has had a lasting impact on the earning potential of workers that are now reaching retirement age.
A recent study by Provision Living shows the cities with the highest percentage of working seniors. Read on for a list of the top ten cities where seniors are most likely to still be in the workforce.
Cities With the Highest Percentage of Senior Workers
The following cities have the highest percentage of seniors (individuals aged 65 and older) in the workforce.
1. Plano, Texas
Percentage of Seniors in Workforce: 25.4%
Senior Population: 34,164
2. Washington, D.C.
Percentage of Seniors in Workforce: 24.1%
Senior Population: 79,769
3. Anchorage, Alaska
Percentage of Seniors in Workforce: 24%
Senior Population: 28,148
4. Minneapolis, Minnesota
Percentage of Seniors in Workforce: 23.4%
Senior Population: 37,718
5. Garland, Texas
Percentage of Seniors in Workforce: 23.1%
Senior Population: 26,302
6. Austin, Texas
Percentage of Seniors in Workforce: 22.8%
Senior Population: 76,788
7. Durham, North Carolina
Percentage of Seniors in Workforce: 22.6%
Senior Population: 27,781
8. Dallas, Texas
Percentage of Seniors in Workforce: 22.5%
Senior Population: 127,622
9. Nashville, Tennessee
Percentage of Seniors in Workforce: 22.4%
Senior Population: 73,240
10. Irving, Texas
Percentage of Seniors in Workforce: 22.4%
Senior Population: 17,417
Cities with the Highest Senior Workforce Growth
The following cities have experienced the greatest senior workforce growth since 2009.
1. Durham, North Carolina
Senior Workforce Growth: 109%
Senior Population Growth: 46%
2. Plano, Texas
Senior Workforce Growth: 99%
Senior Population Growth: 65%
3. Austin, Texas
Senior Workforce Growth: 95%
Senior Population Growth: 53%
4. Gilbert Town, Arizona
Senior Workforce Growth: 86%
Senior Population Growth: 86%
5. Portland, Oregon
Senior Workforce Growth: 86%
Senior Population Growth: 33%
6. Boise, Idaho
Senior Workforce Growth: 86%
Senior Population Growth: 35%
7. Corpus Christi, Texas
Senior Workforce Growth: 80%
Senior Population Growth: 34%
8. Fontana, California
Senior Workforce Growth: 79%
Senior Population Growth: 75%
9. Raleigh, North Carolina
Senior Workforce Growth: 78%
Senior Population Growth: 46%
10. San Jose, California
Senior Workforce Growth: 77%
Senior Population Growth: 37%
See the full study here: https://www.provisionliving.com/news/cities-most-working-seniors