by Lecia Parks Langston, Economist
• In 2006, over 15 percent of older Americans were in the labor force. They constitute nearly 4 percent of the U.S. labor force.
• In Utah during 2006, roughly 15 percent of the 65-plus population were in the labor force. They constitute nearly 3 percent of the Utah labor force.
• After decreasing between the 1950s and the 1980s, labor force participation for older Americans plateaued during the first half of the 1990s. However, during the last decade, labor force participation has been gradually rising—especially among those between the ages of 65 and 69.
• Roughly 2.9 percent of older Americans were unemployed in 2006 compared to 4.6 percent of the total labor force.
• Labor force participation rates of older men have fallen dramatically since 1950 when they registered 46 percent.
• As older workers continue to work, they are more likely to work part-time. About 10 percent of men aged 55-64 work part-time compared to almost half of employed men over 70.
• In the United States, the median household income where the householder is 65 and older measures $30,200 compared to $48,451 for all households.
• In Utah, the median household income, where the householder is 65 and older, measures $36,670 compared to $51,309 for all households.
• Nationally, about 10 percent of the over-65 population were below the poverty level in 2006 compared to 15 percent of the total population.
• In Utah, about 7 percent of the over-65 population were below the poverty level in 2006 compared to 12 percent of the total population.
• Older women had a higher poverty rate (12 percent) than older men (7 percent) in 2006.
• Older persons living alone were much more likely to be poor (17 percent) than those living with families (6 percent).
• The highest poverty rates were experienced among older Hispanic women (41 percent) who lived alone and older black women (38 percent) who lived alone.
• Households maintained by older people have net worth higher than that of all other households except for the similar net worth of those maintained by 55-64 year-olds.
• In Utah during 2006, 7 percent of individuals 65 and older were below the poverty line compared to 12 percent of the total population.
• Almost half of
all older U.S. women in 2006 were widows. There were over four times as many
widows as widowers. In Utah, 36 percent of women were
widowed.
• Divorced and
separated older persons represented about 12 percent of older persons in 2006—up
from 5 percent in 1980. Only 8 percent of Utah’s older population was divorced
in 2006.
• More than 670,000
grandparents maintained households in which grandchildren were present in 2006.
A total of 1.8 million older people lived in a household with a grandchild
present; 450,000 had primary responsibility for the
child.
• Roughly 4 percent
of the 65-plus population in 2006 lived in institutional settings such as
nursing homes. However, 15 percent of persons 85 and older lived in
institutional housing.
• Non-Hispanic
whites account for nearly 83 percent of the older population. Blacks, Asians,
and Hispanics account for 8 percent, 3 percent, and 6 percent,
respectively.
• Education among
older Americans has increased dramatically. In 1970, only 28 percent of the
65-plus population had completed high school, compared to 78 percent in
2006. In 2006, almost one-fifth of
this age group had a bachelor’s degree.
• In Utah during
2006, 88 percent of older men and 86 percent of older women had completed high
school. In addition, 35 percent of older men and 17 percent of older women had
at least a bachelor’s degree.
• Average life
expectancy at birth has risen from 47 years in 1900 to 77 in
2000.
• In many important respects, people nearing 65 today are at least as prepared for retirement as the same age group was 10 or 20 years ago. Incomes, education, and net worth are all up for the current age group heading towards retirement.
• Disability among the older population is declining. Studies over the past two decades have revealed substantial declines in the rates of disability and functional limitation.
• Pension coverage for women has increased over the past decade. The percentage of women without a pension decreased from 48 percent in 1994 to 37 percent in 2004. The percentage of men without pensions has remained steady at about 25 percent.
• About 80 percent of those 65 years and older have at least one chronic health condition and 50 percent have at least two.
