More adults in Louisiana keep working past retirement age. See why experts say it's concerning
BATON ROUGE, La. (BRPROUD) -- A new study puts Louisiana in the top 10 states with an increase in retirement-aged residents still working.
An analysis of U.S. Census Bureau Household Pulse Survey data by LendingTree shows how many Americans age 65 and older continue to work.
According to the study, 22% of retirement-aged adults in the United States are still working, with one in four being self-employed. The number of older adults employed dropped slightly from 22.5% to 22% in two years.
Data shows that half of the older population is employed by private companies and 10.3% are employed by the government.
The study said Louisiana saw the 10th-largest jump in retirement-aged adults who still work. The percentage went from 19.2% in March 2022 to 22.5% in March of this year.
The state that saw the biggest jump overall is New Jersey, going from 20.3% to 33.8% in two years.
Delaware and Indiana also saw big rises with 37.4% and 32.2%, according to the data.
Matt Schulz, LendingTree's chief credit analyst, said in the study that the increase could be a "concerning sign" that more older Americans need extra income due to the rising cost of living.
Iowa was named as the state with the highest decline in older adults in the workforce, dropping from 27.1% to 17.2%.