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In a surprising turn, baby boomers are now the generation most likely to hold multiple jobs — mirroring the polywork trend initially popularized by Gen Z during the pandemic.Â
Research from Startfleet reveals that over 1.3 million Americans aged 55 to 64 are managing multiple jobs — a huge increase as financial pressures mount.
Historically, baby boomers relied on stable jobs and familial support in retirement, but rising living costs have changed the landscape. Lewis Maleh, CEO of Bentley Lewis, notes that many are now compelled to work additional jobs simply to make ends meet, as the traditional notion of retirement feels increasingly unattainable, according to Fortune.Â
With wages failing to keep pace with inflation, many boomers are finding it necessary to supplement their incomes. Euan Cameron, CEO of Willo, explains that some older workers are adapting to late-career redundancies by seeking multiple streams of income, often working from home to save time and increase earnings.
Senior employees are not only extending their careers but also redefining what it means to work in their later years. It seems these individuals are looking to “bullet-proof” their retirement plans by enhancing their financial stability.
Interestingly, Gen Z remains the second most likely demographic to engage in polyworking, with about 700,000 young people balancing multiple jobs. However, the scale of boomers participating in this trend demonstrates the broader economic pressures facing older workers.Â
Financial necessity drives baby boomers to pursue multiple job opportunities, which emphasizes the need for supportive policies that accommodate the diverse needs of an aging workforce grappling with economic challenges.
