URGENT UPDATE: America’s elderly workforce is facing significant pay cuts, with many of the nation’s oldest workers forced to accept minimum wage jobs to make ends meet. This pressing issue affects individuals like Vince Scidone, who turned 90 while working part-time at a convenience store near Oklahoma City, earning only $14.90 an hour.
Despite receiving $104,000 annually from Social Security and pensions, Scidone’s expenses—including $2,500 for car payments and nearly $2,700 in mortgage costs—leave him struggling financially. “My goal is to get us into a position where we both could retire,” Scidone stated, underscoring the challenges faced by older workers.
A recent analysis from Business Insider reveals that many workers aged 80 and older are relegated to low-paying positions, often earning less than $20 an hour. The median income for this demographic stands at approximately $57,000 annually, which is slightly higher than the general workforce average of $45,000.
The job market for older Americans is increasingly bleak. Many have transitioned from well-paying careers to low-wage roles in retail, clerical work, and food service. For instance, Patricia Wheatley, 82, works full-time at a boat store earning $16 an hour to support her family, including her 26 grandchildren and 11 great-grandchildren. “By the world’s standards, I am far from a success story, though my life is comfortable and I have peace,” Wheatley shared.
The current federal minimum wage of $7.25 has not changed since 2009, even as inflation has surged more than 50%. Many elderly workers, such as John Fahy, 88, are clocking in long hours to supplement their income, but report that the physical demands of their jobs are taking a toll. Fahy earns $23 an hour at Home Depot, but admits it’s far less than his former salary as an engineer.
Experts highlight that ageism remains a barrier for older workers seeking fair opportunities. Leanne Clark-Shirley, president and CEO of the American Society on Aging, advocates for eliminating age discrimination in hiring, stating, “We treat people differently based on their birthday.”
Many older workers express gratitude for the jobs they do have, which provide not just financial support but also a sense of purpose. Employers are beginning to recognize the reliability and dedication of older employees, with programs aimed at enhancing their skills. However, funding for these initiatives has stalled, leaving many older workers without the necessary resources to thrive.
As the number of elderly workers continues to grow, the urgency to address their financial struggles becomes increasingly critical. With many relying solely on part-time jobs to maintain their livelihoods, experts urge for more robust support systems and fair compensation for this vital demographic.
The need for action is dire, as older Americans face a job market stacked against them. For those like Kenn Hildebrand, 89, who juggles multiple part-time jobs to make ends meet, the reality is stark: “I’ve been rich and I’ve been poor. Rich is better,” he stated, emphasizing the need for change.
With these challenges unfolding, all eyes are on policymakers and employers to create a more equitable workforce for older Americans. The conversation around the rights and needs of this demographic is more urgent than ever, and the time for action is NOW.
