More on older workers
Outplacement firm Challenger, Gray & Christmas reports today that it's hip to be older than 55 in the workplace.
There are more older workers out there than ever, the Chicago-based firm says. But, though age might be in vogue, the competition between aging Baby Boomers is getting fierce.
As of August, the number of workers 55 and older reached 24.6 million, according to a Wednesday news release from the company. About a quarter of these workers were older than 65 - a 45 percent increase over a decade ago.
Challenger found that employment among 55-plus workers grew 10.5 percent between 2003 and 2005. That's more than double the growth rate for the 45-to-54 set.
In a survey of 3,000 job seekers during the second quarter of this year, Challenger found that job-search time for the 50-and-older set has been reduced to the that of younger job seekers. The company sees this as an indication of an increasing preference for older workers.
Challenger also cites the decreased number of age-discrimination lawsuits - Equal Employment Opportunity Commission stats show 16,585 such claims during fiscal year 2005, marking the lowest level since 2000.