American delay retirement.

Older Americans are choosing to stay in the workforce longer while at the same time many are losing their jobs or facing lower-paying alternatives in the recession. Some 51% of workers age 55 or older are delaying retirement, holding on to jobs, or trying to find work, reports the Economic Policy Institute. Older workers made up 18.4% and 17.6% of the labor force in 2008 and 2007, respectively.

Labor Force
by Age Group *

                    16-24   25-54   55 & Older

Total Labor Force    14%     68%       18%
Employed
Underemployed        13%     68%       19%
Unemployed           27%     59%       14%

Note: Table made from pie chart.

* AS OF NOVEMBER 2008 SOURCE: ECONOMIC POLICY INSTITUTE