Total Number of Seniors (65+) in the Labor Force in Arizona
Arizona seniors are working longer. There has been an increase in the number of Arizona seniors 65+ in the labor force. As Arizonans age, more opt to stay in the workforce, either out of financial necessity or as a result of a desire to work beyond what was traditionally thought of as retirement age. This trend is mirrored nationally as 93% of the growth in the U.S. labor force from 2006 to 2016 will be among workers ages 55 and older. Since the economic downturn, boomers have pointed to several factors that have kept them in the labor force including investments that evaporated in the economic downturn, failure to save for retirement like their parents did, and living beyond their means for too long. Other surveys find that those who are prolonging work choose to do so because of job satisfaction. Furthermore, sudies have shown that employment and meaningful activity increase longevity.