New York's older workers are staying on the job

New York's job market is stalling

A report from Gov.Kathy Hochul's office shows total statewide employment will grow only zero point two percent in twenty twenty-six and zero point three percent in twenty twenty-seven, after rising one percent the year before.

The state's population is graying fast

Nineteen point three percent of New York's population is sixty-five and older, up from fifteen percent a decade ago. This aging population is intensifying demand for social and healthcare services.

Older workers are staying employed longer

A twenty twenty-two study from New York's Office of Budget Policy and Analysis found that residents aged sixty-five and up were the only group showing significant labor growth over ten years.

Healthcare is now the fastest-growing sector

Demographic shifts are driving demand for healthcare and social assistance, making this the fastest-growing sector in the labor market. Job growth in leisure, hospitality, manufacturing and construction is expected to remain weak.

“Demographic shifts are driving demand for health care and social assistance, making this the fastest growing sector in the labor market.”

Working past sixty-five has quadrupled

The number of people working past sixty-five has quadrupled in the U.S.since the nineteen eighties, according to twenty twenty-three analysis from Pew Research Center, with around a fifth of the older generation holding down jobs.

Retirement savings fears drive longer work

Over two in five retired Americans worry their funds won't support their ideal retirement lifestyle.

The retirement gap is widening

BlackRock surveyed U.S.voters on comfortable retirement needs and found the average response was two point one million dollars.