Editor's Note: This story originally appeared on U.S. Money Reserve.
As the population continues to age, a growing number of individuals are extending their careers well beyond the traditional retirement age. This trend is influenced by several factors, including economic necessity, personal fulfillment, and governmental policies that encourage extended participation in the workforce.
Another key driver behind this shift is increasing life expectancy and the subsequent need for sustained financial security, particularly in an era where pensions and retirement benefits may be insufficient to cover expenses in post-retirement years.
The labor force participation rate of individuals age 65 and older varies significantly across the United States, with unique economic and cultural factors contributing to where more older adults continue to work past the traditional retirement age.
Metro areas, often hubs of economic activity with diverse employment opportunities and high educational attainment, provide environments where older workers can maintain jobs that suit their experience and physical capabilities.
To find the places with the most people working past retirement age, researchers at U.S. Money Reserve, a leading distributor of government-issued gold, silver, platinum, and palladium, conducted an analysis. See the methodology at the end for more details.
Here are the major metro areas where people are working in retirement.
15. Los Angeles-Long Beach-Anaheim, CA
- Share of over-65 population in the labor force: 21.1%
- Total over-65 population in the labor force: 421,205
- Share of population over 65: 15.5%
- Share of labor force that is over 65: 6.1%
- Median wage & salary income for full-time workers over 65: $63,000
- Median wage & salary income for full-time workers age 16-64: $60,000
14. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Share of over-65 population in the labor force: 21.3%
- Total over-65 population in the labor force: 228,030
- Share of population over 65: 17.3%
- Share of labor force that is over 65: 6.8%
- Median wage & salary income for full-time workers over 65: $60,000
- Median wage & salary income for full-time workers age 16-64: $63,000
13. Richmond, VA
- Share of over-65 population in the labor force: 21.4%
- Total over-65 population in the labor force: 41,620
- Share of population over 65: 16.8%
- Share of labor force that is over 65: 6.5%
- Median wage & salary income for full-time workers over 65: $60,000
- Median wage & salary income for full-time workers age 16-64: $60,000
12. San Jose-Sunnyvale-Santa Clara, CA
- Share of over-65 population in the labor force: 21.4%
- Total over-65 population in the labor force: 60,469
- Share of population over 65: 15.1%
- Share of labor force that is over 65: 5.8%
- Median wage & salary income for full-time workers over 65: $80,000
- Median wage & salary income for full-time workers age 16-64: $100,000
11. Austin-Round Rock-San Marcos, TX
- Share of over-65 population in the labor force: 21.4%
- Total over-65 population in the labor force: 64,271
- Share of population over 65: 12.2%
- Share of labor force that is over 65: 4.5%
- Median wage & salary income for full-time workers over 65: $63,000
- Median wage & salary income for full-time workers age 16-64: $65,000
10. Denver-Aurora-Centennial, CO
- Share of over-65 population in the labor force: 21.5%
- Total over-65 population in the labor force: 81,976
- Share of population over 65: 13.9%
- Share of labor force that is over 65: 5.0%
- Median wage & salary income for full-time workers over 65: $65,000
- Median wage & salary income for full-time workers age 16-64: $65,000
9. New York-Newark-Jersey City, NY-NJ
- Share of over-65 population in the labor force: 21.5%
- Total over-65 population in the labor force: 719,633
- Share of population over 65: 17.2%
- Share of labor force that is over 65: 7.0%
- Median wage & salary income for full-time workers over 65: $70,000
- Median wage & salary income for full-time workers age 16-64: $70,000
8. Baltimore-Columbia-Towson, MD
- Share of over-65 population in the labor force: 21.6%
- Total over-65 population in the labor force: 101,885
- Share of population over 65: 16.9%
- Share of labor force that is over 65: 6.8%
- Median wage & salary income for full-time workers over 65: $70,000
- Median wage & salary income for full-time workers age 16-64: $66,000
7. Houston-Pasadena-The Woodlands, TX
- Share of over-65 population in the labor force: 21.6%
- Total over-65 population in the labor force: 192,716
- Share of population over 65: 12.3%
- Share of labor force that is over 65: 5.2%
- Median wage & salary income for full-time workers over 65: $60,000
- Median wage & salary income for full-time workers age 16-64: $55,000
6. Columbus, OH
- Share of over-65 population in the labor force: 21.9%
- Total over-65 population in the labor force: 65,085
- Share of population over 65: 14.4%
- Share of labor force that is over 65: 5.8%
- Median wage & salary income for full-time workers over 65: $50,000
- Median wage & salary income for full-time workers age 16-64: $60,000
5. Memphis, TN-MS-AR
- Share of over-65 population in the labor force: 22.2%
- Total over-65 population in the labor force: 41,336
- Share of population over 65: 15.3%
- Share of labor force that is over 65: 6.7%
- Median wage & salary income for full-time workers over 65: $53,000
- Median wage & salary income for full-time workers age 16-64: $50,000
4. Dallas-Fort Worth-Arlington, TX
- Share of over-65 population in the labor force: 23.6%
- Total over-65 population in the labor force: 224,689
- Share of population over 65: 12.1%
- Share of labor force that is over 65: 5.3%
- Median wage & salary income for full-time workers over 65: $57,000
- Median wage & salary income for full-time workers age 16-64: $56,000
3. Salt Lake City-Murray, UT
- Share of over-65 population in the labor force: 24.4%
- Total over-65 population in the labor force: 38,666
- Share of population over 65: 11.9%
- Share of labor force that is over 65: 5.2%
- Median wage & salary income for full-time workers over 65: $65,000
- Median wage & salary income for full-time workers age 16-64: $56,000
2. Boston-Cambridge-Newton, MA-NH
- Share of over-65 population in the labor force: 24.6%
- Total over-65 population in the labor force: 203,639
- Share of population over 65: 17.2%
- Share of labor force that is over 65: 7.4%
- Median wage & salary income for full-time workers over 65: $74,000
- Median wage & salary income for full-time workers age 16-64: $78,000
1. Washington-Arlington-Alexandria, DC-VA-MD-WV
- Share of over-65 population in the labor force: 25.5%
- Total over-65 population in the labor force: 230,287
- Share of population over 65: 14.4%
- Share of labor force that is over 65: 6.5%
- Median wage & salary income for full-time workers over 65: $80,000
- Median wage & salary income for full-time workers age 16-64: $80,000
Methodology
The data used in this analysis is from the U.S. Census Bureau’s 2022 American Community Survey released in 2023.
Researchers at U.S. Money Reserve ranked locations by share of the 65-and-older population in the labor force. People were considered to be in the labor force if they were employed or unemployed but actively looking for work.
The researchers also calculated the total over-65 population in the labor force, share of population over 65, share of labor force over 65, median wage and salary income for full-time workers over 65, and median wage and salary income for full-time workers ages 16-64.
To improve relevance, metropolitan areas were grouped into cohorts based on population size: small (less than 350,000), midsize (350,000–999,999), and large (1,000,000 or more).
