The lastest capital letter that is appearing in the mainstream is generation U, for those Boomers who can’t afford to retire or who can and prefer not to. I am interested in those individuals in generation U, who can’t afford to stop working and the challenges they face. The upside of this is that the research out there supports the health and economic benefits derived from continuing to work such as: a connection with others, a sense of purpose and structure, possible extended health and pension plans, additional income and so on.This is especially true if your job is a match for your strengths, interests and career aspirations.
Results from the Ipsos Reid poll conducted for the 2014 Sun Life Canadian Unretirement Index found that: “As we have seen in past years, those who plan to work past 65 fall into two camps. Thirty-five per cent say they’ll do so because they want to. Sixty-five per cent feel they will need to. The gap between the two has been gradually widening since 2011.”
In the US, labour market participation rates of people 65 years and older has increased and according to the United States Census Bureau (2013) : “Within the 65 and over population, 65 to 69-year-olds saw the largest change, increasing from 21.8 percent in 1990 to 30.8 percent in 2010.” This data is a bit dated as these censuses are conducted every ten years, the next set of results coming after 2020 will no doubt show further increases.
So it appears, that once again the Baby Boomers are spearheading social and economic change!