Baby Boomers Are Not Retiring And The Impact on Small Business

by Steven A Feinberg January 13th, 2021     |     Share   

Baby Boomers are delaying retirement and continuing to stay in the workforce. This trend in postponed retirement can have substantial impact on other generations within the workforce seeking advancement and career changes. According to the ADP Workforce Vitality Report released in June 2017, “[the boomer] age group experienced 4.8 percent job growth during the first quarter of 2017, more than any other age group.” Additionally, the Pew Research Foundation found that “nearly two-thirds of workers older than 65 hold full-time jobs” of 35 hours a week or more. While there are many reasons for the delay in retirement, four primary catalyst include: