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Sure, it’s got great beaches, inspirational mountains and mild winters. But when it comes down to dollars and cents, South Carolina is not a golden opportunity for older Americans looking for a place to continue working in their golden years.
In fact, a new study released by Seniorly reviewed employment opportunities in all fifty states for those who are 65 years of age (or older) – and the Palmetto State ranked 8th worst in the country.
That’s important because the Bureau of Labor Statistics (BLS) forecasts the number of folks still earning a paycheck beyond typical retirement will jump in the coming eight years from the current 11.2 million to 14.8 million, a 25% increase. In other words, by 2033 one in 12 American workers will be age 65 or older.
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There are many reasons for this trend, not the least of which is that unrelenting inflation is taking a bigger than expected chomp out of retirement savings. Making a bad situation even worse, the growing demand for senior jobs comes as more major corporations have become increasingly reluctant to hire anyone over age 50.
For sexagenarian (and up) job hunters, the new study suggests looking to the North and West. Washington, New Hampshire, Alaska, Maryland, Colorado, Connecticut, Massachusetts, South Dakota, Utah and Vermont are the most promising places for seniors to be put on the payroll.
Conversely, forget the South if you want to find work. Mississippi, Arkansas, Alabama, West Virginia, Kentucky, Louisiana, North Carolina, South Carolina, Georgia, and Oklahoma are the worst in the country for it.
For those in the 65 and upward demo, certain sectors are more promising than others. According to the survey, the five most promising fields are K-12 Schools (with some 638,000 senior workers), hospitals (421,000), real estate (344,000), colleges and professional schools (293,000), and restaurants (272,000).
Entrepreneurship is another attractive alternative to many seniors. At last count, 22.8% of businesses with employees are owned by someone age 65 or onward.
Overall, across the U.S., 30.2% of seniors are still in the labor force at this moment, with 17% of them working from home. Senior householders bring in $56,038 yearly on average, according to the Census Bureau.
Experts say that as life expectancy continues to increase, don’t look for the trend to change anytime soon. In fact, it will most likely be exacerbated. Which means don’t be surprised if you one day hear a centenarian ask, “Do you want fries with that?” at a fast food drive-thru window.
Click here to read more on the new study…
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ABOUT THE AUTHOR…
J. Mark Powell is an award-winning former TV journalist, government communications veteran, and a political consultant. He is also an author and an avid Civil War enthusiast. Got a tip or a story idea for Mark? Email him at mark@fitsnews.com.
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