Thursday, April 12, 2018

How Many Boomers Are Retired?

The Baby-Boom generation is reaching the age of retirement. But what percentage of the generation has retired? According to a Demo Memo analysis of 2017 labor force participation rates by single year of age, 45 percent of the Boomers are retired—meaning they are not in the labor force—and 55 percent are still working. Here's the breakdown...

  • 73 million Boomers were in the civilian noninstitutional population in 2017. 
  • 32 million Boomers were not in the labor force (45 percent).
  • 41 million Boomers were still in the labor force (55 percent).
  • 26 million Boomers worked full-time—66 percent of Boomer workers and 36 percent of the Boomer population.

Most Boomer workers have full-time jobs regardless of age. Among the 39 percent of 65-year-olds in the labor force, fully 70 percent worked full-time. Among the 20 percent of 71-year-olds (the oldest Boomers) in the labor force, 51 percent had full-time jobs.

Source: Demo Memo analysis of Labor Force Statistics from the Current Population Survey

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