Educational Attainment

Statistic # 2368

According to a 2008 analysis of data from the Panel Study of Income Dynamics (PSID), in 2005 the median net worth of households with family head aged 65 or more was $59,500 if the family head had no high-school diploma, compared to $184,000 for those with a high school diploma, and $412,100 for those with some or more college education. (Table 10-2008)

Federal Interagency Forum on Aging Related Statistics. (2008). Older Americans 2008: Key indicators of well-being. Washington, DC: U. S. Government Printing Office. Retrieved from http://agingstats.gov/agingstatsdotnet/Main_Site/Data/2008_Documents/OA_2008.pdf

This report describes the overall status of the U.S. population age 65 and over, using data from over a dozen national data sources to construct broad indicators of well-being for the older population and to monitor changes in these indicators over time.

Educational Attainment

Statistic # 2235

A 2006 analysis of data from the General Social Survey shows that in 2002, 18.9% of workers aged 55-65 were overqualified for their jobs by 3 or more years; that is, they had 3 or more years of education than required. For workers aged 45-54, 20.1% were overqualified. For workers aged 35-44 and 25-34, the percentage overqualified were 19.0 and 20.8 respectively.

Vaisey, S. (2006). Education and its discontents: Overqualification in America, 1972-2002. Social Forces, 85(2), 835-864.

The data come from the 1972-2002 General Social Survey (GSS). The GSS is a repeated cross-sectional study conducted by the National Opinion Research Center (NORC) that interviews approximately 1,500 non-institutionalized adults in the United States about every year.

Educational Attainment

Statistic # 2220

According to a 2008 BLS report, "in 1997, 21 percent of employed older workers had less than a high school education compared to only 10 percent of those ages 25-64. By 2007, older workers with less than a high school education accounted for just 13 percent of that group's employment, compared with 9 percent for younger workers."




Bureau of Labor Statistics. (2008). Spotlight on statistics: Older workers. Washington, DC: U. S. Department of Labor. Retrieved from http://stats.bls.gov/spotlight/2008/older_workers/pdf/older_workers_bls_spotlight.pdf

This report is based on analysis of data from the Current Population Survey, the National Compensation Survey, and BLS Employment Projections.

Educational Attainment

Statistic # 2197

According to a 2008 Metlife survey, "most of those in encore careers come from professional and white-collar jobs (88%), have at least a college education (67%), and tend to live in cities and their surrounding suburbs (72%). In contrast, of those in encore careers, three in 10 never graduated from college, three in 10 live in small towns and rural areas, and nearly two in 10 (18%) worked in a blue-collar job before making the switch to an encore career." (p. 5)

Metlife Foundation, & Civic Ventures. (2008). Encore career survey. San Francisco: Civic Ventures. Retrieved from http://www.civicventures.org/publications/surveys/encore_career_survey/Encore_Survey.pdf

This survey, conducted from February to APril 2008, investigates men and women in midlife in pursuit of purpose-driven work in the second half of life or "encore career." The quantitative research began with a telephone survey of 1,063 adults age 44 to 70, which was followed by an online survey of 1,008 adults currently in encore careers and 1,514 adults interested in encore careers.

Educational Attainment

Statistic # 2184

Analysis of data from U.S. Statistical Abstracts shows that, "in 1960, fewer than one in ten young adults were enrolled in college. By 2005, one in four adults age 22-24 was enrolled in school, and substantial portions of those in their late 20s remained in school." (fig. 4, p. 4)




Sweet, S., & Joggerst, M. (2008). The interlocking careers of older workers and their adult children (Issue Brief No. 14). Chestnut Hill, MA: The Sloan Center on Aging and Work at Boston College. Retrieved from http://agingandwork.bc.edu/documents/IB14_InterlockingCareers.pdf

"Many findings discussed in this Issue Brief are the result of analysis of data from the Statistical Abstracts of the United States, the Cornell Couples and Careers Study (interviews with middle class dual earner couples in 1998-2001), and other sources relevant to family expenses." (p. 1)

Educational Attainment

Statistic # 2161

Based on analysis of data gathered from the Health and Retirement Study, 15% of female wage-and-salary workers with a college degree transitioned to self-employment, while only 9% of non-college-educated women did the same. (Fig. 6, p. 6)




Giandrea, M. D., Cahill, K. E., & Quinn, J. F. (2008). Self employment as a step in the retirement process (Issue Brief No. 15). Chestnut Hill, MA: The Sloan Center on Aging and Work at Boston College. Retrieved from http://agingandwork.bc.edu/documents/IB15_SelfEmployment_Retire.pdf

This 2008 Issue Brief discusses the reasons and benefits supporting the transition from wage-and-salary work to self-employment, specifically for older workers as an alternative to complete retirement. Accompanying the discussion is analysis of statistics on several factors taken from the Health and Retirement Study, such as health status and education level, that affect a worker's decision on whether or not to enter self-employment.

Educational Attainment

Statistic # 2150

Analysis of data from the 2002 National Study of the Changing Workforce shows that "among older workers, the odds of being very satisfied with life are 63.6% higher for females than for males; 45.3% lower for white non-Hispanics than for people of other ethnic/racial backgrounds, and 8.5% higher with every additional year in age." (p. 6)

Johnson, J. K. M., Pitt-Catsouphes, M., Besen, E., Smyer, M., & Matz-Costa, C. (2008). Quality of employment and life-satisfaction: A relationship that matters for older workers (Issue Brief No. 13). Chestnut Hill, MA: Boston College Center on Aging & Work/Workplace Flexibility. Retrieved from http://agingandwork.bc.edu/documents/IB13_LifeSatisfaction.pdf

Drawing on data from various sources, this issue brief offers insights about how employment experiences affect the life satisfaction of older workers.

Educational Attainment

Statistic # 937

According to the "A Work-Filled Retirement" survey, "workers with college degrees (74%) outpace both those with either some college education (59%) and those with no more than a high school degree (61%) in their confidence they will be able to retire when they want. Those earning more than $40,000 per year (71%) are also more confident than those earning below this line (44%)." There is no significant difference between men and women on this issue. (p.9, Figure 1.6)

Reynolds, S., Ridley, N., & Van Horn, C., Ph.D. (2005, August). A Work-Filled Retirement: Workers' Changing Views on Employment and Leisure. Worktrends, 8.1 (Summer '05).

“In this report, American workers across the nation describe their expectations of retirement and their views of how older workers are treated in the workplace…A total of 1,232 adults were interviewed for this survey. Respondents who worked full or part time, or who were unemployed and looking for work, received a complete interview. A total of 432 respondents who did not meet these criteria received a short interview that included demographic questions. The results of this report are based on a total of 800 complete interviews with members of the workforce, including 82 people who have retired from their primary job but remain in the workforce. The final results were weighted to match U.S. Census Bureau estimates for age, educational attainment, gender, and race.”

Educational Attainment

Statistic # 751

According to analysis of the 2002 National Study of the Changing Workforce, 38 percent of men and 28 percent of women over the age of 50 had four year college degrees or more (fig.1).  In comparison, 32 percent of women under 50 years of age had four-year college degrees or more versus only 23 percent of men. (p.2)






Bond, T. J., Galinsky, M. E., Pitt-Catsouphes, M., & Smyer, M. A. (2005). The diverse employment experiences of older men and women in the workforce. (Research Highlight 02). Chestnut Hill, MA: Center on Aging & Work/Workplace Flexibility. Retrieved October 25, 2007 from http://agingandwork.bc.edu/documents/RH02_DiverseEmployExper.pdf




“This report is the second in a series of Research Highlights published by the Center on Aging & Work/Workplace Flexibility in collaboration with the Families and Work Institute. These Research Highlights present the findings of in-depth analyses of the Families and Work Institute’s 2002 National Study of the Changing Workforce (NSCW). This report compares and contrasts the experiences of men and women, 50 and older, in the U.S. workforce. Gender is an important lens for examining the employment experiences of older workers, in part because the work and family histories of men and women tend to vary across the course of their lives…The National Study of the Changing Workforce (NSCW) is conducted every five years. It surveys large samples of the U.S. workforce to collect information about both the work and personal lives of U.S. workers.”

Educational Attainment

Statistic # 726

“Small business owners (50 years or older) are more likely to have college degrees than workers in either of the other two groups. Indeed, 54 percent of small business owners, 50 or more years old, have four-year college degrees or more, while only 32 percent of wage and salaried employees and 39 percent of self-employed independents do.” (Table 1, p.4)

Center on Aging & Work / Workplace Flexibility. (2005, November).Context matters: Insights about older workers from the National study of the changing workforce. (Research Highlights No. 01).Chestnut Hill, MA: Bond, T. J., Galinsky, M. E., Pitt-Catsouphes, M., & Smyer, A. M. Retrieved July 31, 2006, from http://agingandwork.bc.edu/template_highlights

“This report is the first in a series of Research Highlights published by the Center on Aging & Work/Workplace Flexibility in collaboration with the Families and Work Institute that present the findings of in-depth analyses of the Families and Work Institute’s 2002 National Study of the Changing Workforce (NSCW). This first issue compares the personal characteristics, employment experiences, and attitudes of workers, 50 or more years old, who are wage and salaried employees, independent self-employed workers, and small business owners…The National Study of the Changing Workforce (NSCW) is conducted every five years. It surveys large samples of the U.S. workforce to collect information about both the work and personal lives of U.S. workers.”

Educational Attainment

Statistic # 486

In 2000, 96.2% of persons age 50-61, 90.9% of persons age 62-74, and 87.2% of persons age 75 and above, were high school graduates and had incomes in top 25%.

AARP. (2002, May). Beyond 50: summary tables and charts. Research report. (Table: Core indicators by age & income data). Washington, DC: Gist, J., Figueiredo, C., & Ng-Baumhackl, M. Retrieved July 15, 2005, from http://www.aarp.org/research/reference/statistics/aresearch-import-298.html

"Through its analysis of both the status quo and developing trends, Beyond 50: A Report to the Nation on Economic Security provides readers with an in-depth look at the well-being of more than one-quarter of Americans - the 76 million people age 50 and older in 2000."

Educational Attainment

Statistic # 483

In 2000, 66.7% of persons age 50-61, 56.3% of persons age 62-74, and 53.2% of persons age 75 and above, were high school graduates and had incomes in bottom 25%.

AARP. (2002, May). Beyond 50: summary tables and charts. Research report. (Table: Core indicators by age & income data). Washington, DC: Gist, J., Figueiredo, C., & Ng-Baumhackl, M. Retrieved July 15, 2005, from http://www.aarp.org/research/reference/statistics/aresearch-import-298.html

"Through its analysis of both the status quo and developing trends, Beyond 50: A Report to the Nation on Economic Security provides readers with an in-depth look at the well-being of more than one-quarter of Americans - the 76 million people age 50 and older in 2000."

Educational Attainment

Statistic # 296

In 2003, for 15.4% of persons age 65 and above had completed less than a 9th grade education, 36.2% had graduated from high school and 17.4% had bachelors or advanced degrees.

U.S. Census Bureau. (2005). U.S. Census Bureau, statistical abstract of the United States: 2004-2005. Population. (Section 1, Table 31, p. 35). Washington, DC: U.S. Census Bureau. Retrieved July 15, 2005, from http://www.census.gov/prod/www/statistical-abstract-2001_2005.html

"This section presents statistics on the growth, distribution, and characteristics of the U.S. population. The principal source of these data is the U.S. Census Bureau, which conducts a decennial census of population, a monthly population survey, a program of population estimates and projections, and a number of other periodic surveys relating to population characteristics."