Self Employment and "Older Workers"

Hi:

Did you know that people of working age in Canada are classified by their ages.  I'm sure similar categories exist in other countries.

Anyway in Canada, people are lumped into three basic groups, with some some subcategories.  The first one is Youth, which lasts until age twenty-nine, if you can believe that. A twenty-nine year old youth!

 This is subdivided into two groups 15 to 24, which has high unemployment rates, naturally, because most are attending school.  The last group should theoretically be getting out in the world and starting their careers.

The next category are the Prime Aged Workers, aged 30 to 44.  This is it - Prime Aged.  Employment is highest in this group.

 The last group is called, unfortunately, Older Workers.  The first subset 45 to 54, are supposed to be at their highest pay and responsibility level.  These are often the folks who are running the country.  Fair enough.  The last subset of Older Workers, 55 to retirement, has diverging patterns.  Some are moving to yet higher levels, some are leaving the workforce to retire or work part-time, and others are unfortunately not working because of illness or family responsibilities.

The age when retirement starts has declined.  For government workers it is 57, the average age is 62, and the self-employed keep on trucking right up until 65 or older. For example, almost 50% of  school teachers retire at ages 55 to57. By that time, they have put in their 35 years, have full pensions, and are free to start new careers or have fun.

But, another trend, not necessarily reflected by government statistics, because the right questions are not asked, is that self-employment amongst older workers is increasing. 

Often with some assets, lots of experience and maturity, they are finding creative ways to fulfil their last working years. They see how they can fill uniques niches.  Or they find they only want to do one part of their job that they enjoy the most and figure out how to do that.  Good for them.

Mahara