Older Americans Month: May 2017

After a meeting with the National Council of Senior Citizens, President John F. Kennedy encouraged all Americans to pay tribute to older people across the country by designating May 1963 as Senior Citizens Month. Every president since has issued a formal proclamation during or before the month of May in support of older Americans. In 1980, President Jimmy Carter issued a proclamation changing the name of this observance to Older Americans Month. This month continues to be a time to celebrate the age 65 and older population through ceremonies, events and public recognition.

Population

47.8 million The number of people age 65 and older in the United States on July 1, 2015. This group accounted for 14.9 percent of the total population. The age 65 and older population grew 1.6 million from 2014. 98.2 million The projected population of people age 65 and older in 2060. People in this age group will comprise nearly one in four U.S. residents. Of this number, 19.7 million will be age 85 or older.

Income and Poverty

$38,515 The median income of households with householders age 65 and older in 2015.

8.8 percent

The percentage of people age 65 and older in poverty in 2015, down from 10.0 percent in 2014. $170,516 The median net worth for householders age 65 and older in 2011. 13.7 percent The supplemental poverty rate for those age 65 or older, equating to 6.5 million people in 2015. Excluding Social Security from income would more than triple the poverty rate for this group.

Serving Our Nation

9.3 million The estimated number of U.S. veterans age 65 and older in 2015.

Jobs

4.6 million The number of men age 65 and older in the labor force in 2015. There were 3.7 million women age 65 and older in the labor force in 2015. 5.3 million The number of full-time, year-round workers age 65 and older with earnings in 2015.