Factors Influencing Trends in Employment of the Aged

* B u r e a u of Research a n d Sta t i s t ics , Division of F i n a n c e a n d Economic S t u d ies. THE FUTURE COSTS of the old-age and survivors insurance program under the Social Security Act will depend in considerable measure on the extent to which aged persons choose to remain in gainful covered employment rather than to retire and receive an annuity under the insurance system. In turn, the aged worker's decision to retire or to keep on working is influenced by a number of factors. There is evidence tha t many of the aged now on the benefit rolls are those unable, because of their physical condition, to remain in covered employment. Many other aged workers, however, are able to work and, unless they have other resources, the small average benefit payable under the insurance program, coupled with rising living costs, compels them to continue in employment as long as jobs are available.1