Study: One in four older adults remains active in PR workforce

The labor participation rate for people aged 60 and over was 10.4% in 2024.

By THE STAR STAFF

Labor and Human Resources Secretary María del Pilar Vélez Casanova released a study on Thursday revealing that approximately one in four adults between 60 and 64 years old remained active in the workforce during the 2024 calendar year.

“Puerto Rico is an aging society, and this change has direct implications for the labor market,” Vélez Casanova said in a written statement.

The report indicated that in 2024, the non-institutionalized civilian population aged 60 and over was estimated at 963,000 people, representing an increase of 56,000 compared to 2020 and 35.1% of the non-institutionalized civilian population aged 16 and over.

In terms of labor force participation, the rate for people aged 60 and over was 10.4%. Employment for this group was estimated at 98,000 people, equivalent to 8.5% of total employment, while the unemployment rate was 2.1%.

Furthermore, the analysis by gender reflected that older men maintained higher levels of labor force participation, while the participation of women showed a gradual increase, associated with cultural changes and greater employment opportunities for this segment of the population.

The study also indicated that 863,000 people aged 60 and over remained outside the workforce, mainly due to retirement, household responsibilities, or health conditions. Of that total, 449,000 people were retired in 2024, according to the report.

The report, “People Aged 60 and Over: Employment and Unemployment Status,” based on the Labor Force Survey, can be accessed through the website mercadolaboral.pr.gov.