Big D ranks No. 1 in cities with the largest senior workforce, according to a recent report by the personal finance company SmartAsset.
“Twenty-eight percent of people age 65 and older in Dallas are still in the labor force — more than 26% of whom are actively working,” according to the report. “That’s more than any other city across studywide.”
Washington, D.C., places second in the study, with Austin and Houston ranking third and fourth, respectively. Fort Worth also made it to the top 10, bringing home No. 8.
North Texas is fertile ground for a booming job market. In fact, Dallas-Fort Worth-Arlington saw the second-highest increase in jobs nationwide year over year, the Texas Workforce Commission reported in July.
At the same time, millions of older Americans are needing to work because they can’t afford to retire.
Between 2019 and 2021, Dallas witnessed a 3.7% spike in the number of older adults who were either looking for work or already working, the second-highest jump in SmartAsset’s study. Fort Worth saw the biggest increase with 4.6%.
To produce the report, researchers reviewed the latest labor force data from 34 of the country’s largest cities. The cities were then ranked by their proportion of workers aged 65 and older.
The Senior Source in Dallas helps older adults navigate the job hunt. Julie Krawczyk, director of the organization’s Elder Financial Safety Center, said many seniors are working later in life and are planning to work longer, too.
“I would say for a lot of older adults, that's mostly because it's essential that they work, and also because they still have a lot of value to contribute — and purpose,” Krawczyk said. “And in my opinion from working here, I think it would cause significant health decline if they stopped working when they were capable of working.”
The Senior Source also works to dispel myths about older workers.
Contrary to what some may think, employee productivity actually increases with age, according to the Connecticut Department of Labor. And older workers tend to take fewer sick days than their younger counterparts.
Less-skilled employees with lower incomes sometimes need to hold down multiple jobs, Krawczyk said. Other older adults are looking to maximize their retirement and work for longer than they’d once expected.
Jobs get a bit harder to come by as one ages, she said; required skill sets continue to evolve. She’s seen older adults who still hustle in gig jobs like Uber Eats to help make ends meet.
“It's not a matter of, ‘They can't do it,’” Krawczyk said. “It's a matter of being provided the opportunity to do it, and that’s really what our focus is on.”
“We have some success stories here and there, but it's a tough road to get them back plugged into the workforce as technology has advanced so dramatically.” – Steve Benton, The Senior Source
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Steve Benton retired after a successful investment career but eventually chose to become a financial counselor with The Senior Source. He noted that people 65 and older make up the fastest-growing demographic today.
By 2040, more than 1 in 5 people in the U.S. will be at least 65 — outpacing the number of children under 18, according to the Census Bureau.
Many older adults were severely stressed throughout the COVID-19 pandemic, Benton said. Some lost their jobs and then had to scramble to return to work.
The Senior Source teaches older adults wanting to get back into the labor force how to create resumes and offers training on current technologies.
“We have some success stories here and there, but it's a tough road to get them back plugged into the workforce as technology has advanced so dramatically,” he said. “They're a different generation, very service-oriented — but, you know, you can't really make a living serving people at McDonald's.”
To keep themselves afloat, Benton said, older adults can increase income or slash expenses.
Some seniors had been covering costs thanks largely to Social Security benefits, but in recent times, prices have soared for necessities like rent, gas and groceries, Benton said. Older adults who've been affected by inflation have had to return to the labor force.
“They've got to find alternatives,” he added, “and some of that alternative is finding jobs.”
