The Fact
BLS tenure data show that more than half of wage-and-salary workers ages 60–64 had at least 10 years of tenure with their current employer in January 2024.
What This Means
The labor market asks many people approaching traditional retirement age to depend on continued employment at exactly the point when a large share have built deep tenure in one organization. Losing that job can require reentering an external hiring market after a decade or more away from it.
Sources
- U.S. Bureau of Labor Statistics. “Employee Tenure in 2024.” USDL-24-1867, September 19, 2024, Current Population Survey tenure tables.