The newest trend in today’s job market seems to be what Baby Boomers are calling Encore Careers. This generation is now defining “retirement” as a career change rather than a career cessation. In fact, 76 percent of all boomers expect to continue working after retirement, often in a completely new position or career according to Christina Couch (2007).
This new movement has even spurred the development of the Encore Careers Grant that will create educational opportunities for the baby boomer’s to continue their education beyond retirement. The prominent sectors of these “encore careers” include health care, education and social services (Couch, 2007).
As an added bonus, the transition of the “boomers” into new careers will play a positive role in keeping our economy “in the black” as they say. According to the Bureau of Labor Statistics' reports, by the year 2014, an estimated 78 million boomers will gradually make their way out of the workforce with only 75.6 million workers entering to replace them. Therefore, programs designed to update, re-skill, and transition boomers into new careers will definitely have a positive impact on our nation as a whole.
It looks like retirement is becoming a thing of the past for the middle class. No more “winter condos” in Florida or retirement homes in Arizona. With the Social Security System in shambles and the status of our economy I guess it’s no wonder. Regardless, the next 5 to 10 years should be quite interesting!
Source: Couch, Christina. “Encore Careers: When It Comes Time to Retire, Many Baby Boomers Say 'The Show Must Go On'”. (http://jobs.aol.com/article/onlinecampus/_a/encore-careerswhen-it-comes-time-to/20070905095809990002)