The Fact
BLS employee-tenure data for January 2024 show that more than one-quarter of wage-and-salary workers ages 55–64 had 20 years or more of tenure with their current employer.
What This Means
For a meaningful share of older workers, displacement can mean losing not merely a job but a workplace relationship built over two decades or more—along with accumulated firm-specific knowledge and seniority.
Sources
- U.S. Bureau of Labor Statistics. “Employee Tenure in 2024.” USDL-24-1867, September 19, 2024, Current Population Survey tenure tables.