What happened to all the older workers?

[Olivera]

It occurred to me when I was in the office last week (IT/finance) that the number of working professionals younger than me (44) appears to vastly exceed those older than me. In fact I wouldn't be surprised if it was a 10:1 ratio of younger to older. The number of workers aged 50+ probably dwindles even more.

So, what happened to all of the older workers, e.g. the entire professional cohort that were older than me when I started working life ~20-25 years ago? Is this the 'missing worker' conundrum observed since Covid, with increasing numbers of older professionals retiring earlier, going part time, or switching career to something else entirely? If so I'm surprised at how pronounced it appears to be, albeit in my entirely anecdotal case.

Has anyone else mused on this?

[Olivera]

otolith said:

Smaller part of the working population, and a higher rate of non-employment.

That graph is what I'd expect, slightly more younger workers than older (compared to myself). Again anecdotally this isn't what I see in a professional and well paid environment, that is numbers rapidly diminish, especially 50+.

[Olivera]

StevieBee said:

It's a perfect storm of a larger number of older-mid aged people being able to capitalise on what were incredibly generous pensions back in the late 80s and 90s and benefiting from inheritance to much higher levels than have been seen previously. The end terrance ex-council house they grew up in is now worth £0.5m which when added to a decent final salary pensions and a paid-off mortgage means they can remove themselves from the workplace and lead a prosperous life whilst doing diddly squat.

I agree, and it's likely that subsequent cohorts won't have the same opportunity to retire as early.

Joey Deacon said:

Maybe more and more people in their 20s will just check out, I know several children of people I know just basically sit in their bedroom playing XBOX all day and have zero desire to ever get a job.

If life involves living a bleak hand-to-mouth existence in rented property until retirement then playing Xbox at home until your parents croak it might seem preferable.

[Olivera]

cliffords said:

I worked up until a year ago for a Bank in Canary wharf. Before Covid when it was full there would be 200 people on a floor . I used to walk about and try and spot someone who looked older then me . At 55 at the time I would always be the oldest .

if you walked around the floor now post-Covid people would be wondering who's grampa has got lost. Interesting that we have people aged just 49 and 55 stating that they are the oldest in the department/floor/company, which tallies with my original post.

[Olivera]

Started a new contract at a large US financial institution. Based on working in the office I'd say those aged 40+ number a low double digits percentage of staff, aged 50+ it's effectively dwindled to close to zero. :O