{"id":10204,"date":"2025-01-18T10:35:27","date_gmt":"2025-01-18T14:35:27","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=10204"},"modified":"2025-01-18T10:35:27","modified_gmt":"2025-01-18T14:35:27","slug":"who-are-the-happiest-workers-older-workers-study-finds","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=10204","title":{"rendered":"Who are the happiest workers? Older workers, study finds"},"content":{"rendered":"
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It\u2019s not exactly whistling while you work, but it\u2019s close.<\/span><\/div>\n<\/div>\n<\/div>\n
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A bit of positivity as we skate into the holidays pops out of a new\u00a0report\u00a0<\/a>from The Pew Research Center on how Americans view their jobs.<\/p>\n

Overall, US workers are upbeat about their level of job security, and relatively few expect to look for a new job in the coming months.<\/p>\n

I was pleased to discover that it’s the older workers who are the happiest. Two-thirds of those 65 and older say they are highly satisfied with their jobs, compared with 4 in 10 of those 18 to 29 and just under half of those 30 to 49.<\/p>\n

\u201cOlder workers have expressed higher job satisfaction levels overall, and they are more likely to feel respected at their job,\u201d Luona Lin, a co-author of the report, told Yahoo Finance. \u201cPlus, they don\u2019t feel left behind \u2014 the vast majority of older workers say they have the education and training they need to get ahead.\u201d<\/p>\n

Read on Yahoo FInance<\/a><\/strong><\/em><\/p>\n

You might attribute that rosy view to the U-Curve of Happiness theory, which suggests that young and old adults are happier than middle-aged adults.<\/p>\n

Whatever the root of that upbeat vibe, it\u2019s merry news.<\/p>\n

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Need the money vs. want to work<\/h2>\n

The majority of workers 65 and older say they work both because they need the money and because they want to work. A little over one-quarter of this age cohort say they work mostly because they want to, while 17% say it\u2019s mainly because they need the money, according to the data.<\/p>\n

The truth is many Americans are not financially ready to retire, and they do enjoy what they do. A twofer.<\/p>\n

These older workers are re-envisioning the workplace and work-life balance through flexible opportunities and that\u2019s key to their ability to enjoy healthier, longer lives.<\/p>\n

A contributing factor to the high satisfaction levels is autonomy. Workers ages 65 and older are the most likely to express high levels of satisfaction with flexibility around when and how much to work and with the amount of feedback they receive from their manager, according to the report.<\/p>\n

Read more:\u00a0<\/em>How much money should I have saved by 50?<\/em><\/a><\/p>\n

Doing more than required<\/h2>\n

And when you\u2019re happy at work, you\u2019re engaged. Older workers are more likely to say they do more than what\u2019s expected of them, according to the data. On the other hand, about a third of workers ages 18 to 29 are the most likely to say they do only what\u2019s expected of them. Ouch. That lack of get-up-and-go doesn\u2019t bode well for their careers in my opinion.<\/p>\n

Adding to that malaise: Young workers are less likely to see their jobs as a career. Some 28% of workers ages 18 to 29 view their job as a career, while about half of workers 65 and older do.<\/p>\n

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The upside for workers and for employers<\/h2>\n

Continuing to work after 65 helps people stay sharp mentally and feel valued and relevant. Work can provide a purpose and a social network and community too.<\/p>\n

However, you can\u2019t ignore the upside of continuing to earn, even if it\u2019s to stave off dipping into retirement accounts and allow those funds to keep growing. Or, importantly, it makes it possible for some folks to push back on\u00a0Social Security\u00a0<\/a>benefits until age 70 when the checks are the heftiest for the rest of their lives.<\/p>\n

Read more:\u00a0<\/em>What is the retirement age for Social Security, 401(k), and IRA withdrawals?<\/em><\/a><\/p>\n

The number of older workers on the job has been inching up for a while now. Roughly 1 in 5 Americans ages 65 and older\u00a0were employed\u00a0<\/a>in 2023, four times the number in the mid-1980s. That adds up to around 11 million workers.<\/p>\n

Have a question about retirement? Personal finances? Anything career-related? Click here to drop Kerry Hannon a note.<\/em><\/strong><\/a><\/p>\n

Between 2022 and 2032, the\u00a0labor force participation rate\u00a0<\/a>of the 55-to-64 age group is projected to increase by more than 3 percentage points, according to the US Bureau of Labor Statistics, and the same goes for those 65 to 74. During the same time period, the younger workers on the job will likely decline.<\/p>\n

\u201cThe demographic shift with an aging population is already there for businesses in areas outside of major cities,\u201d Bradley Schurman, a demographic strategist and the author of\u00a0\u201cThe Super Age<\/a>,\u201d told Yahoo Finance. \u201cTo survive, businesses need to recognize the need to expand their worker pool, look up and engage older workers. They need to rethink everything from hours to benefits to\u00a0<\/em>keep older workers happy.\u201d<\/p>\n