Career reinvention may be more of a necessity than a virtue for older Americans, but working longer can make a difference beyond your bottom line.
By Mark Miller | 06-02-11 | 06:00 AM | Email Article

Even if boomers retire at the same rate and age as previous generations, the echo boomer demographic now coming of age will be too small to fill all the expected openings, he argues. That will create more demand for older workers to stay on the job--something baby boomers have said all along they intend to do.

Mark Miller is a nationally recognized expert on trends in retirement and aging. He also contributes to Reuters, WealthManagement.com, and The New York Times. His book, Jolt: Stories of Trauma and Transformation, will be published in February by Post Hill Press.

"We're going to see a remarkable reshaping of our labor force," Bluestone says. "The rate of labor force participation by the 55-plus population is going to be much higher, and older workers will represent a much higher percentage of the overall workforce."

Bluestone's report envisions nearly 75% of 55- to 64-year-olds working in 2018, far higher than the 65% who were working in 2008. Likewise, he thinks 30% of Americans age 65-74 could be working in 2018, much higher than the current rate of 25%.

Bluestone forecasts that the fast-growing encore job categories will include primary, secondary and special education teachers, registered nurses, home health aids, and medical assistants.

 Total Social/Government Sector -- Projected Encore Career
 Growth 2008-2018 (in thousands)
 
Number
Primary, Secondary, and Special Education Teachers
647.3
Registered Nurses
581.5
Home Health Aides
460.9
Personal and Home Care Aides
375.8
Nursing Aides, Orderlies, and Attendants
276.0
Medical Assistants
163.9
Licensed Practical and Licensed Vocational Nurses
155.6
Business Operations Specialists
147.2
General and Operations Managers
143.2
Child Care Workers
142.1
Teacher Assistants
134.9
Receptionists and Information Clerks
132.7
Medical and Health Service Managers
100.8
Clergy
85.1
Social and Human Service Assistants
79.4
Maids and Housekeeping Cleaners
78.6
Educational, Vocational, and School Counselors
73.3
Computer Support Specialists
64.0
Office Clerks, General
60.8
Managers, All Other
57.6
Social and Community Service Managers
57.0
Mental Health and Substance Abuse Social Workers
56.4
Accountants and Auditors
55.6
Rehabilitation Counselors
54.2
Medical and Public Health Social Workers
53.9
Bookkeeping, Accounting, and Auditing Clerks
52.3
Administrative Services Managers
52.2
Lawyers
52.0
Computer Systems Analysts
50.1
Human Resources, Trading, Labor Relations Specialists
49.1
Cooks, Institution and Cafeteria
48.5
Source: Lacey and Wright, 'Occupational Employment Projections to
2018,' Analysis of Labor Market Assessment Tool

Prize-Winning Social Entrepreneurs
The Purpose Prize award provides a high-profile storytelling venue and showcase for courageous and effective older social entrepreneurs. Here are two recent examples of award-winners; read and watch more videos on social entrepreneurship at the Purpose Prize website.

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