Sun, Feb 19, 2017 - Page 7 News List

Fulfilled by work, many older women are retiring later

By Claire Cain Miller  /  NY Times News Service

Kay Abramowitz has been working, with a few breaks, since she was 14. Now 76, she is a partner in a law firm in Portland, Oregon — with no intention of stopping anytime soon.

“Retirement or death is always on the horizon, but I have no plans,” she said. “I’m actually having way too much fun.”

The arc of women’s working lives is changing — reaching higher levels when they are younger and stretching out much longer — according to two new analyses of US census, earnings and retirement data that provide the most comprehensive look yet at women’s career paths.

Overall, the paths look much more like men’s careers than they used to. Women are more likely than in previous generations to work at almost every point in their lives, including in their 20s and 30s when they often used to be home with children.

Now, if mothers take breaks at all, it is often not until their late 30s or early 40s — and those who leave are likely to return to the labor force.

Most striking, women have become significantly more likely to work into their 60s and even 70s, often full time, according to the analyses.

Many of these women report that they do it because they enjoy it.

The data adds a bright chapter to the narrative of women’s progress in the world of work. Even though their participation in the labor force in the US has flattened in recent years, and as mothers especially face serious challenges, women are working more than ever and getting fulfillment, not just income, from their jobs.

Nearly 30 percent of women 65 to 69 are working, up from 15 percent in the late 1980s, one of the analyses, by the Harvard economists Claudia Goldin and Lawrence Katz, found.

Eighteen percent of women 70 to 74 work, up from 8 percent.

This rejection of retirement is more common among women with higher education and savings, though not confined to them.

Those who are not working are more likely to have poor health and low savings, and to be dependent on Social Security and sometimes disability benefits, Goldin said.

Of those still working, Goldin said: “They’re in occupations in which they really have an identity.”

“Women have more education, they’re in jobs that are more fulfilling, and they stay with them,” she added. (Goldin happens to be an example of the phenomenon, as a 70-year-old professor and researcher.)

Men’s employment after age 60 has also risen, since about 1994, but not as steeply as women’s. About 60 percent of men 60 to 64 work, and just over half of women in that age range do.

The two new studies draw their data from the Health and Retirement Study at the University of Michigan and from the Current Population Survey and the Survey of Income and Program Participation at the US Census Bureau.

The data included surveys that tracked the same women over time; in some cases, the researchers studied respondents’ income tax and Social Security records.

Women now in their 60s and 70s were the first generation to become professionals in large numbers, but that does not explain all of the increase in older women who work, which began in the late 1980s.

For some women, the decision to keep working was unexpected and not necessarily welcome, because of late-in-life divorce, pension or real-estate losses, or changes in Social Security.

A recent paper by the economists Annamaria Lusardi and Olivia Mitchell examined women who were working into old age because they had more debt than in previous generations and lacked financial savvy.

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