Friday, April 14, 2017
The AARP blog, Thinking Policy last week posted about new data: Labor force participation rate for people ages 55+ edges up in March
The monthly Employment Situation Report from the Bureau of Labor Statistics (BLS) shows the economy added 98,000 jobs in March 2017 — an unexpectedly smaller increase from the first two months of the year. The number of persons ages 55+ who are employed increased slightly from February. Meanwhile, the unemployment rate for those ages 55 and older remained unchanged, at 3.4 percent and approximately 1.2 million unemployed. The percentage of the 55+ population that is either working or actively seeking work, i.e. the labor force participation rate, increased slightly to 40.1 percent. The labor force participation rate of persons ages 55+ has remained at around 40 percent throughout the past year. In March the labor force participation rate of men ages 55+ was 46.1 percent, compared with 34.9 percent for women ages 55+.
The post specifically examines the data about women in the workforce, with the highest percentage of those 55 and older hitting the high in 2013. "Education has been a key factor influencing women’s labor force participation and is likely to continue to have an impact in the future. Over the past several years, women earned the majority of college degrees of all levels. If this trend continues, employers faced with the need for college-educated workers are likely to seek more ways to attract and retain female employees. This in turn may influence the number of women in the labor market – and the number who continue to work at older ages."