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Older workers in record demand

Older workers appear to be in demand these days, with Americans working in their 50s, 60s, 70s and even 80s hitting a record high, according to a new study.

The number of workers 55 and older reached 24.6 million in August, the highest level ever recorded, according to job-search consultant Challenger, Gray & Christmas. About one-fourth of these older workers were 65 and older. That’s up 45 percent from the 3.6 million employed 10 years ago, according to the study.

Indeed, many older workers are forced to keep working today as their pensions and health care benefits are cut by employers. Many are also pushing to boost their retirement funds as people are living longer — often into their 80s.

In the last two years, the number of older workers has grown at a faster pace than any other age group, the study said. The Challenger group’s analysis of Bureau of Labor Statistics data found that employment among workers 55 and older climbed by 10.5 percent between 2003 and 2005.

By Tim Simmers, BUSINESS WRITER

Full Story: http://www.insidebayarea.com/business/ci_4372880

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