Tuesday, March 25, 2008

Australia: More Workers Keep Working after 65

According to an analysis of recent Australian Bureau of Statistics releases, the number of older people working beyond 65 has jumped by almost half in three years, perhaps foreshadowing a landmark change in Australians' attitudes to retirement. Writing for The Age, Tim Colebatch suggests that having over 250,000 people staying in the workforce after reaching the traditional retirement age might indicate that employers battling a tight labor market are throwing retirement ages out the window.

Colebatch writes that the shift in slightly younger workers may be even more dramatic. In 2007, almost half of those in their early 60's were working, up from one in three a decade ago, and barely one in four a generation ago.

Source: The Age "Older workers turn backs on retirement" (March 26, 2008)

No comments: