What’s working: Older Coloradans are returning to work, and inflation may be to blame
Other reasons for the rising 55+ workforce include demographics, less-ageist employers and, of course, the state’s still-tight labor market.
The Colorado Sun
Dean Krakel/For The Colorado Sun
The number of all workers in Colorado’s labor force fell in the first year of the pandemic, with notable declines among those 55 and older.
But just like the rest of the population, older workers are returning to work.
A slightly larger percentage of people between ages 55 and 64 are part of the state’s labor force today, at 70.3% compared with 68.1% in 2019, according to the latest labor data. And while workers 65 and older aren’t back at the same pre-pandemic rate, their overall participation in the labor force is double what it was two decades ago.
Data from the state labor department breaks down the estimated number of workers in the chart below by age group (the blue columns) and how many are laboring away (the light green line).
The growing number of older workers in Colorado aligns with the fact that the state’s population is getting older. We’ve known this was happening for decades as new residents moved in to raise a family or start a business. The state’s median age is now 37.5 as of last year. In 2010, it was 36.1, according to census data.
Read more at ColoradoSun.com.
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