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Article: Workplace pain ahead as boomers retire; The state economist hopes that more workers will delay retirement. But little is being done to retain older employees.(NEWS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- June 8, 2007
- Author:
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Copyright informationCOPYRIGHT 2007 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Warren Wolfe; Staff Writer
After a century of decline, the average retirement age appears to be edging up in the United States, and the impact could be profound.
A new national survey of workers shows that the average age of retirement hit 62 last year, up from 60 in 1996. That's sparking intense interest among economists, demographers and others who watch retirement trends closely.
As an aging baby boom generation nears retirement, keeping more older workers in the labor force could ease a tightening supply of skilled workers, boost income tax collections, take some pressure off a shaky Social Security system, and help older people better finance their ...