Salt Lake City ranks third in nation for largest over-65 labor force

Bailey Chism
The City Journals

As the U.S. population continues to age, more people are choosing to extend their careers well beyond the traditional retirement age. A recent study by U.S. Money Reserve has identified Salt Lake City as one of the leading metropolitan areas for aging labor forces.

The study, conducted by researchers from the U.S. Money Reserve, analyzed data from the U.S. Bureau of Labor Statistics and the Census Bureau to determine the percentage of individuals age 65 and older who are still active in the workforce. The findings revealed that 24.4 percent of Salt Lake City residents in this age group are still employed, placing the city just behind Washington, D.C., (25.5 percent) and Boston (24.6 percent).

According to U.S. Money Reserve, labor force participation among older adults has been steadily increasing since 1985. At that time, only 10.8 percent of those over 65 were working. By 2023, this figure had risen to 19.2 percent.

The researchers attribute this trend to a shift from traditional pension plans, which provided a guaranteed income in retirement, to tax-advantaged 401(k) plans that place more responsibility for retirement savings on individual employees. Other contributing factors include increased life expectancy among Americans and higher educational attainment, which often leads to less physically demanding careers, allowing older workers to remain employed longer.

Nationally, the most common jobs for workers aged 65 and older include delivery drivers (324,000 workers), retail salespersons (304,000 workers) and janitors and building cleaners (256,000 workers).

However, certain occupations rely even more heavily on older workers. For instance, 42.2 percent of funeral service workers are 65 and older, as are 31.6 percent of school bus monitors, 30.8 percent of crossing guards and 29.7 percent of school bus drivers.

The study also ranked Utah as No. 12 with the highest percentage of workers remaining in the workforce beyond retirement age, with 20.8 percent of Utah’s over-65 population still active. Vermont topped the list with 24.8 percent, followed by Massachusetts (23.8 percent), Nebraska (23.7 percent) and New Hampshire (23.0 percent). Virginia and Kansas trailed just behind Utah, each with 20.5 percent of their older population still working. West Virginia had the lowest percentage of active over-65 workers, at just 14 percent.