COVID-19 Pushes Older Workers’ Employment Rate Down

The employment rate for Americans ages 65 and older fell sharply in 2020, according to data in the federal government’s new 2020 Profile of Older Americans.

Because of the effects of the COVID-19 pandemic and of the pandemic-related recession, the percentage of older men still working fell to 22.3%, from 24.7% in 2019. That was the lowest employment rate for men since 2010.

The percentage of older women still working fell to 14.5%, from 16.4%. Older women’s employment level was the lowest since 2012.

The Administration on Aging included an employment rate table in the older Americans profile report, along with state-by-state population size and growth tables and data on many other characteristics, such as marital status, living arrangements and health insurance coverage.

Report tables show, for example, that:

  • 25% of non-institutionalized Americans ages 65 and older have employment-based health coverage.
  • 6% of the non-institutionalized Americans in the age group do not have Medicare.
  • 31% have difficulty hearing.

The Administration on Aging is an arm of the U.S. Department of Health and Human Services. It prepares the report support its efforts to serve as an advocate for older adults within the federal government.

The agency’s reports are in the public domain. That means agents and brokers can use the data in their own reports, marketing materials and social media feeds without fear of copyright restrictions.

(Image: Adobe Stock)

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