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.
