Retirement Prospects for the Racially and Ethnically Diverse Older Adult Labor Force — Fact Sheet
compiled by Betty Cohen
- About one quarter of all US workers aged 50–64 are African American, Asian, and Hispanic. Among workers age 55+, about 6 out of 10 are employed full time, full year, with rates slightly higher for African Americans and Hispanics (66–67%) compared to Whites (63%). Among the foreign-born labor force, 67% are 55–64-year -olds, compared to 64% among native-born.
- Over four in ten African Americans [aged 45+] (44%) have had to help a child pay bills or expenses in the past year and 18% have had to help a parent pay bills or expenses. In comparison, only 8% of the general population had to help a parent with bills or expenses in the past year.
- Among retirees age 60 and older, people of color are disproportionately likely to be low income, 31.6% of Blacks and 46.5% of Latinos are in the bottom 25% income group. The ‘Other’ race group, which includes Asian/Pacific Islander and Native American populations, is also more likely to be low income (38%).
» Download the fact sheet: Retirement Prospects for the Racially and Ethnically Diverse Older Adult Labor Force.
» View all Center Publications