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Labor market flooded by seniors, data shows | Pitsburgh Post-Gazette

24 May 2014—Jacquelyn James, Center's co-director of research is mentioned on

By Ann Belser / Pittsburgh Post-Gazette

Saul Markowitz could not be happier about his most recent hire.

... In April, 18.9 percent of people over 65 in the U.S. were either working or looking for work, according to the Bureau of Labor Statistics. That level of labor force participation by older workers has not been seen, before the past year, since 1964, a year before Medicaid was signed into law.

Workers have seen the financial realities of their retirements change, prompting some to return to the workforce.

Forty years ago, workers were promised pensions that would provide defined benefits for the rest of their lives.

"That changed mid-game and it really affected a lot of people," said Jacquelyn B. James, director of research for the Sloan Center on Aging and Work at Boston College's Lynch School of Education.

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