A new study of the presence of seniors in the workforce has found Bridgeport to be among the nation’s top cities with the largest proportion of employees ages 65 and older.
According to a study published by ValuePenguin.com, a personal finance website operated by LendingTree, Bridgeport ranked second among the nation’s 100 largest cities for its senior workforce share, with 24.30% of residents ages 65 and older still going to work. Only Washington, D.C., had a larger share at 24.90%. Other cities with high percentage of working seniors were Boston (22.70%), Omaha (22.30%) and Austin (21.10%).
The study also found that the average household income for Bridgeport’s 65-plus residents was $57,488 and their average housing costs were $22,668. Only 14.50% of this population had a bachelor’s degree or higher.
On a national level, the study also determined that labor force participation rate for the 65-74 age group alone has increased from 18% to 27%, in the past 20 years, and it nearly doubled for those ages 75 and higher. Within this age group, men were more likely to be working than women: In 2018, nearly 32% of men between the ages of 65 and 74 were in the labor force, compared with 23% of women of the same age.