Find a good job, buy a house, start a family, and retire at the ripe age of 65. That’s always been the American dream — but is it reality? Many Americans are working well past the age of 65, changing the landscape of our workforce.
As older people push off retirement, there are fewer openings for young people trying to get jobs. This can be observed in the relatively low employment rate of people ages 20 to 24, hovering at around the mid-60 percent mark in most states.
Interestingly, the states with the highest rates of employed people over 65 are also states with the highest rates of employment in people 20 to 24. Though this seems to contradict the claim that older workers aren’t retiring and making it harder for millennials, it is also possible these states have higher overall rates of employment.
Will it become the norm for young people to become unemployed and living with their parents in their early twenties because older Americans are choosing not to retire? It’s hard to say. Perhaps Americans will stay in school longer to become more skilled before entering the workforce.
Older workers aren’t your only competitors when applying for a job. Advances in technology means that you may also have to compete with machines, too. To see which jobs may become automated in the future, check out our infographic here.
