Closing The Deficit How Much Can Later Retirement Help

the long version

For the past two decades Americans over age 60 have increasingly delayed their withdrawal from the workforce, a reversal of a century-old trend toward early retirement. For instance, from 1991 to 2010 the employment rate increased by more than half among 68-year-old men and by about two-thirds among women of the same age. Using data from the Current Population Survey, Working Our Way out of the Deficit explores the historical trajectory of retirement and the labor force participation rate of older men and women. Who chooses to delay retirement? Have older workers delayed their departure from career jobs? How will working longer affect the outlook for the federal budget? Brookings economists Henry Aaron and Gary Burtless join with renowned colleagues to examine the impact of extended employment against the backdrop of the federal deficit problem.