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Older Women in the Workforce

June 19, 2019

Women may return to the workforce for a variety of reasons. However, the age group from 55 – 64 is increasing more rapidly than other segments of the population. According to the Bureau of Labor Statistics, women in this age group represented 51.9% of the work force in 2000. The forecast is this group participation will rise to 62.9% by 2024.

Over the past year, women age 55 and older increased 4.2% from the previous year. Women already represent 47% of workers over 55.

The projected rate of women workers over 65 will reach 18.4% in 2024 compared to 9.4% in 2000.

Some of the reasons cited include:

  • Financial demands (personal expenses, helping support grandchildren, etc.)
  • Increasing Social Security benefits
  • Staying active and involved
  • Reaching for professional goals
  • Fulfilling dreams previously put on hold

 

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