The trend of early retirement appears to be heading in reverse, with workers older than 55 making up a larger portion of the labor market, a new report shows. 

By 2031, 25% of U.S. labor force will be workers aged 55 and older, up from 20% in 2011, according to a report from management consultant Bain & Company. Globally, 150 million jobs will be done by workers 55 and older by the end of the next decade, the report found.

The data shows recent trends in 澳洲幸运5官方开奖结果体彩网:workers retiring early in the wake of the Covid-19 pandemic or empowered by the Great Resignation to leave jobs may h💧ave been temporary. The study showed older woꦿrkers need less training, were more loyal to their employers and were more satisfied with their work. 

“Even the spike in 澳洲幸运5官方开奖结果体彩网:retirements during the peak-Covid 澳洲幸运5官方开奖结果体彩网:Great Resignation now looks more like a Great Sabbatical, a blip in the long-term trend data, with a🍌 higher percentage of retirees reentering the workforce than in February 2019,” the report said. 

Older Workers Overtaking Younger Employees

As more workers leave retirement aℱnd return to work, the balance betꦕween younger and older workers is shifting.

Worker🤡s aged 15 to 24♓ made up 15.6% of the U.S. labor force in 2001, more than the 13.6% of workers who were aged 55 or older. But by 2021, young workers were just 12.8% of the labor market, compared with 23.4% that were older.

Fewer older workers are more likely to work full time than their younger colleagu♎es, as n⛦early 80% of workers aged 35 to 54 worked full time, while just more than 60% of workers aged 55 and older had full-time jobs. 

Older Workers Want Meaningful Work, Autonomy

The survey ♔shows older workers also 🐬look for different attributes in their work than younger employees. 

In fact, workers aged 62 and older were the only age group surveyed that did not put “good compensation” as th🌠e top attribute they need in a job, with 23% instead saying “interesting work” was what they seek most in a job.

Older workers also placed more value on autonomy, with 11% of workers 62 and older and 7% of wꦓorkers 55 through 61 wanting less oversight, compared with just 4% of workers 24 or younger. 

New🥃 Workplace Benefits Targeted to Older Workers

To help appeal to older workers, some workplaces are offering new benefits geared toward older employees. 

Cisco Systems (CSCO), where 30% of the workforce is 50 or older, introduced grandparents leave in 2017, giving new grandparents three paid days off to spend time with new family members. Booking.com (BKNG) and Fannie Mae have also begun offering grandparents leave as a benefit.