Oz Baby Boomers Healthy And Wealthy Says Survey

27 May 2004

Ageing baby-boomers are re-shaping Australia's workforce, according to a study for the Sydney Morning Herald.

The employment study shows that in the last nine years 55 to 65 year-olds have increased their share of the workforce from 8% to 11.5%.

In 1995 the figure was 613,000 compared with today's total of just over 1 million.

Approximately 20% of these people work in small businesses compared with the national average of 11%.

Roughly 14%, almost double the national average, own their business.

Annual earnings are A$45,600 ($32,200; €26,600; £17,700) compared with the national average of A$42,300.

The study suggests this is largely because most of them are concentrated in well paid professional jobs.

A breakdown of the figures shows 733,000 over-55s work full time compared with 455,000 in 1995.

The number of older part-time workers has doubled from 159,000 to 303,000.

Data sourced from: Sydney Morning Herald; additional content by WARC staff