The statistics don’t lie. More people are planning to work beyond what once was a traditional retirement age. The federal Bureau of Labor Statistics (BLS) has projected that the primary working-age group—those ages 25-54—will decline from 66.9 percent of the labor force in 2010 to 63.7 percent in 2020. Workers 55 and older are projected to go from 19.5 percent of the labor force to 25.2 percent during the same period.
The U.S. Census Bureau released an analysis in January pointing out that for the last 20 years, the labor force participation rate of people at least 65 years old has increased, and the increase is particularly evident over the last 10 years.