Older workers are increasingly choosing to stay in the labor force and postpone retirement. Some even stay into their 80s, 90s, and 100s. In 1999, there were 3.9 million workers aged 65 and over.
Surveys show that people intend to work longer than their parents.
Similarly, the current increase in labor force participation primarily reflects an enjoyment of work and a desire to stay actively involved. The need to earn money ranks second. The trend toward longer working lives has been made possible by the tight labor market. Employers have had to raise wages, and offer benefits, training, and even signing bonuses to post-retirement workers. In return, employers get workers who frequently have desirable characteristics such as loyalty, commitment to quality, good performance, and an ability to get along with co-workers.