"A large number of retirees is not a problem in itself; the proportion of retirees to new workers is the problem," labor economist Ron Hetrick told Newsweek.
“The impending demographic shift, in which older adults in the U.S. will outnumber children for the first time in history, presents significant societal and economic challenges and opportunities,” Patrick Mish, CEO of social work firm SilverStay, told Newsweek.
But that doesn’t mean it’s without its challenges, for the individual and society as a whole, with experts queried by Newsweek about the incoming shift raising two main areas of concern: the economy and the well-being of older Americans.
A report from the Schwartz Center for Economic Policy Analysis found that in 2020 about 20 million Americans aged 55 and over needed assistance with daily tasks, such as preparing adequate meals or using the toilet—required to live an independent life.
“As the population ages, the demand for health care services will substantially increase, particularly those related to age-related conditions such as dementia, arthritis, heart disease, and cancer,” SilverStay’s Mish explained.
Henry Criss, CEO at the Fraum Center for Restorative Health, said it is "a chance to innovate in how we deliver medical care and adopt new technologies to improve access and treatment.
Personal injury lawyer Matthew Clark told Newsweek that policy changes that “encourage older adults to stay active and engaged” will keep them in the workforce longer, thus benefiting the economy.
The original article contains 1,294 words, the summary contains 210 words. Saved 84%. I’m a bot and I’m open source!
This is the best summary I could come up with:
“The impending demographic shift, in which older adults in the U.S. will outnumber children for the first time in history, presents significant societal and economic challenges and opportunities,” Patrick Mish, CEO of social work firm SilverStay, told Newsweek.
But that doesn’t mean it’s without its challenges, for the individual and society as a whole, with experts queried by Newsweek about the incoming shift raising two main areas of concern: the economy and the well-being of older Americans.
A report from the Schwartz Center for Economic Policy Analysis found that in 2020 about 20 million Americans aged 55 and over needed assistance with daily tasks, such as preparing adequate meals or using the toilet—required to live an independent life.
“As the population ages, the demand for health care services will substantially increase, particularly those related to age-related conditions such as dementia, arthritis, heart disease, and cancer,” SilverStay’s Mish explained.
Henry Criss, CEO at the Fraum Center for Restorative Health, said it is "a chance to innovate in how we deliver medical care and adopt new technologies to improve access and treatment.
Personal injury lawyer Matthew Clark told Newsweek that policy changes that “encourage older adults to stay active and engaged” will keep them in the workforce longer, thus benefiting the economy.
The original article contains 1,294 words, the summary contains 210 words. Saved 84%. I’m a bot and I’m open source!