SINCE 1890, the proportion of workers who stay on the job after age 65 has dropped from 68% to 40%. At the same time, the number of Americans who are over 65 has risen from 2,400.000 to 13 million. In the next six years, the over-65 group is expected to reach 16 million while the over-50 group will number 41 million. These cold statistics show the size of a grave new economic problem for U.S. industry and the nation: What can be done about the older worker?
Such workers are heavily handicapped because 1) any wage earner over...
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