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Older Americans: A Changing Market, 7th ed.

Introduction


Chapter 1. Attitudes
Highlights
Boomers Are Most Likely to Say They Are Not Too Happy
Belief in Hard Work Is Strong Across Generations
Older Americans Are Doing Far Better than Middle-Aged or Younger Ones
The American Standard of Living Is Falling
Two Children Are Most Popular
Religious Diversity Is on the Rise
Growing Tolerance of Sexual Behavior
Television News Is Most Important
Most Support Abortion if a Mother’s Health Is Endangered


Chapter 2. Education
Highlights
Big Gains in Educational Attainment
Older Americans Are the Least Educated
Among Men, the Oldest Are the Least Educated
The Educational Attainment of Older Women Is Rising
Asians are the Best Educated Older Americans
Few Older Americans Are in School
Few Older Americans Attend College


Chapter 3. Health
Highlights
Most 55-to-64-Year-Olds Say Their Health Is Very Good or Excellent
Weight Problems Are the Norm for Older Americans
Smoking Declines Sharply with Age
Many 55-to-64-Year-Olds Lack Health Insurance
Older Americans Spend Big on Health Care
Health Problems Are Common in the 65-or-Older Age Group
Prescription Drug Use Is Increasing
Millions of Older Americans Are Disabled
Older Americans Account for Many Physician Visits
Heart Disease and Cancer Are the Biggest Killers
Life Expectancy Has Grown at Older Ages


Chapter 4. Housing
Highlights
Homeownership Rate Has Declined
Homeownership Rises with Age
Married Couples Are Most Likely to Be Homeowners
Most Older Blacks and Hispanics Are Homeowners
Most Older Americans Live in Single-Family Homes
Mobility Rate Is Low in Old Age


Chapter 5. Income
Highlights
Incomes Have Grown among Older Householders
Many Older Householders Have High Incomes
Among the Elderly, Non-Hispanic Whites Have the Highest Incomes
Many Older Couples Are Comfortably Well Off
Incomes Are Growing for Older Americans
Older Men Command High Salaries
Older Women Have Low Incomes
Education Boosts Earnings of Older Americans
Most Older Americans Receive Social Security
Poverty Rate Is below Average for Older Americans


Chapter 6. Labor Force
Highlights
Older Men Are More Likely to Work
Labor Force Participation Rate Drops Sharply after Age 55
Older Americans Are about Equally Likely to Work
Few Older Couples Are Dual Earners
One in Five Working Americans Is Aged 55 or Older
Part-Time Work Appeals to Some Older Workers
Self-Employment Is Highest among Older Americans
Job Tenure Has Increased
Most Minimum-Wage Workers Are Young Adults
Union Representation Peaks among Workers Aged 55 to 64
More Older Americans Will Work


Chapter 7. Living Arrangements
Highlights
Married Couples Lose Ground with Age
Households of Older Americans Differ by Race and Hispanic Origin
Household Size Shrinks in the Older Age Groups
Few Older Americans Have Children under Age 18 at Home
Most People Who Live Alone Are Aged 55 or Older
Widowed Population Rises Sharply in Old Age
Divorce Is Highest among Men and Women in Their Fifties


Chapter 8. Population
Highlights
Rapid Growth in the Older Age Groups
Older Americans Are Less Diverse
Many Older Americans Live in Their State of Birth
Few Immigrants Are in the Older Age Groups
Many Older U.S
Largest Share of Older Americans Lives in the South


Chapter 9. Spending
Highlights
Older Householders Have Fared Better than Younger Ones
Householders Aged 55 to 64 Spend Slightly More than Average
Householders Aged 65 or Older Can Be Big Spenders
Retiree Spending Fell Only Slightly between 2006 and 2010


Chapter 10. Time Use
Highlights
Leisure Time Expands Greatly in the Older Age Groups


Chapter 11. Wealth
Highlights
Net Worth Fell Sharply during the Great Recession
Financial Asset Value Declined in Most Age Groups
Nonfinancial Assets Are the Basis of Household Wealth
Most Households Are in Debt
Retirement Worries Are Growing


Glossary


Bibliography


Index


Tables


Chapter 1. Attitudes
1.1 General Happiness, 2010
1.2 Happiness of Marriage, 2010
1.3 Is Life Exciting, Routine, or Dull, 2010
1.4 Trust in Others, 2010
1.5 How People Get Ahead, 2010
1.6 Geographic Mobility Since Age 16, 2010
1.7 Social Class Membership, 2010
1.8 Family Income Relative to Others, 2010
1.9 Satisfaction with Financial Situation, 2010
1.10 Job Satisfaction, 2010
1.11 Parents’ Standard of Living, 2010
1.12 Standard of Living Will Improve, 2010
1.13 Children’s Standard of Living, 2010
1.14 Ideal Number of Children, 2010
1.15 Spanking Children, 2010
1.16 Better for Man to Work, Woman to Tend Home, 2010
1.17 Working Mother’s Relationship with Children, 2010
1.18 Should Government Help the Sick, 2010
1.19 Attitude toward Science, 2010
1.20 Attitude toward Evolution, 2010
1.21 Religious Preference, 2010
1.22 Degree of Religiosity, 2010
1.23 Belief in the Bible, 2010
1.24 Bible in the Public Schools, 2010
1.25 Premarital Sex, 2010
1.26 Homosexual Relations, 2010
1.27 Gay Marriage, 2010
1.28 Main Source of Information about Events in the News, 2010
1.29 Political Leanings, 2010
1.30 Political Party Affiliation, 2010
1.31 Favor or Oppose Death Penalty for Murder, 2010
1.32 Favor or Oppose Gun Permits, 2010
1.33 Legalization of Marijuana, 2010
1.34 Support for Legal Abortion by Reason, 2010
1.35 Doctor-Assisted Suicide, 2010


Chapter 2. Education
2.1 Educational Attainment of People Aged 55 or Older, 1950 to 2010
2.2 Educational Attainment by Generation, 2010
2.3 Educational Attainment of People Aged 55 or Older, 2010
2.4 Educational Attainment of Men Aged 55 or Older, 2010
2.5 Educational Attainment of Women Aged 55 or Older, 2010
2.6 Educational Attainment of Men Aged 55 or Older by Race and Hispanic Origin, 2010
2.7 Educational Attainment of Women Aged 55 or Older by Race and Hispanic Origin, 2010
2.8 School Enrollment by Sex and Age, 2010
2.9 College Students by Age and Enrollment Level, 2010


Chapter 3. Health
3.1 Health Status by Age, 2010
3.2 Health Problems in Past 30 Days by Age, 2010
3.3 Frequent Health Problems in Past 30 Days by Age, 2000 to 2010
3.4 Average Measured Weight by Age and Sex, 2003–06
3.5 Weight Status by Sex and Age, 2010
3.6 Leisure-Time Physical Activity Level by Sex and Age, 2010
3.7 Cigarette Smoking Status by Age, 2010
3.8 Alcohol Use by Age, 2010
3.9 Illicit Drug Use by People Aged 12 or Older, 2010
3.10 Marijuana Use by People Aged 12 or Older, 2010
3.11 Health Insurance Coverage by Age, 2010
3.12 Private Health Insurance Coverage by Age, 2010
3.13 Government Health Insurance Coverage by Age, 2010
3.14 Spending on Health Care by Age, 2009
3.15 Spending on Health Care by Generation, 2009
3.16 Health Care Expenditures of People Aged 55 to 64, 2009
3.17 Health Care Expenditures of People Aged 65 or Older, 2009
3.18 Number of Adults with Health Conditions by Age, 2010
3.19 Distribution of Health Conditions among Adults by Age, 2010
3.20 Percent of Adults with Health Condition by Age, 2010
3.21 Percent of People Aged 55 or Older with Health Conditions, Problems, and Health Care Contacts by Age, 2004–07
3.22 Hypertension by Sex and Age, 1988–94 to 2007–10
3.23 High Cholesterol by Sex and Age, 1988–94 to 2007–10
3.24 Diabetes Diagnosis by Age, 2010
3.25 Prescription Drug Use by Sex and Age, 1988–94 to 2005–08
3.26 Spending on Prescription Medications by Age, 2009
3.27 Spending on Prescription Medications by Generation, 2009
3.28 Difficulties in Physical Functioning among Adults by Age, 2010
3.29 Physician Office Visits by Sex and Age, 2009
3.30 Hospital Outpatient Department Visits by Age and Reason, 2008
3.31 Emergency Department Visits by Age and Urgency of Problem, 2008
3.32 Number of Overnight Hospital Stays by Age, 2010
3.33 Rating of Health Care Received from Doctor’s Office or Clinic by Age, 2009
3.34 Rating of Health Care Received from Doctor’s Office or Clinic by Generation, 2009
3.35 Leading Causes of Death for People Aged 65 or Older, 2010
3.36 Life Expectancy by Age, 1950 to 2010
3.37 Life Expectancy by Age and Sex, 2010


Chapter 4. Housing
4.1 Homeownership by Age of Householder, 2000 to 2011
4.2 Owners and Renters by Age of Householder, 2011
4.3 Homeownership Rate by Age of Householder and Type of Household, 2011
4.4 Homeownership Rate by Age of Householder and Region, 2011
4.5 Homeownership by Age, Race, and Hispanic Origin, 2010
4.6 Number of Units in Structure by Age of Householder and Homeownership Status, 2010
4.7 Geographic Mobility by Age and Type of Move, 2010–11
4.8 Reason for Moving among People Aged 65 to 74, 2010–11
4.9 Reason for Moving among People Aged 75 or Older, 2010–11


Chapter 5. Income
5.1 Median Income of Households Headed by People Aged 55 or Older, 1990 to 2010
5.2 Income of Households Headed by People Aged 55 or Older, 2010: Total Households
5.3 Income of Households Headed by People Aged 55 or Older, 2010: Asian Households
5.4 Income of Households Headed by People Aged 55 or Older, 2010: Black Households
5.5 Income of Households Headed by People Aged 55 or Older, 2010: Hispanic Households
5.6 Income of Households Headed by People Aged 55 or Older, 2010: Non-Hispanic White Households
5.7 Income of Households by Household Type, 2010: Aged 55 to 64
5.8 Income of Households by Household Type, 2010: Aged 55 to 59
5.9 Income of Households by Household Type, 2010: Aged 60 to 64
5.10 Income of Households by Household Type, 2010: Aged 65 or Older
5.11 Income of Households by Household Type, 2010: Aged 65 to 74
5.12 Income of Households by Household Type, 2010: Aged 65 to 69
5.13 Income of Households by Household Type, 2010: Aged 70 to 74
5.14 Income of Households by Household Type, 2010: Aged 75 or Older
5.15 Median Income of Men Aged 55 or Older, 1990 to 2010
5.16 Median Income of Women Aged 55 or Older, 1990 to 2010
5.17 Income of Men Aged 55 or Older, 2010: Total Men
5.18 Income of Men Aged 55 or Older, 2010: Asian Men
5.19 Income of Men Aged 55 or Older, 2010: Black Men
5.20 Income of Men Aged 55 or Older, 2010: Hispanic Men
5.21 Income of Men Aged 55 or Older, 2010: Non-Hispanic White Men
5.22 Income of Women Aged 55 or Older, 2010: Total Women
5.23 Income of Women Aged 55 or Older, 2010: Asian Women
5.24 Income of Women Aged 55 or Older, 2010: Black Women
5.25 Income of Women Aged 55 or Older, 2010: Hispanic Women
5.26 Income of Women Aged 55 or Older, 2010: Non-Hispanic White Women
5.27 Earnings of Men by Education, 2010: 55 to 64
5.28 Earnings of Men by Education, 2010: Aged 65 or Older
5.29 Earnings of Women by Education, 2010: Aged 55 to 64
5.30 Earnings of Women by Education, 2010: Aged 65 or Older
5.31 Sources of Income for Men Aged 55 to 64, 2010
5.32 Sources of Income for Men Aged 65 or Older, 2010
5.33 Sources of Income for Women Aged 55 to 64, 2010
5.34 Sources of Income for Women Aged 65 or Older, 2010
5.35 People below Poverty Level by Age, Race, and Hispanic Origin, 2010


Chapter 6. Labor Force
6.1 Labor Force Participation Rate by Sex and Age, 2000 and 2011
6.2 Employment Status by Sex and Age, 2011
6.3 Employment Status of Men by Race, Hispanic Origin, and Age, 2011
6.4 Employment Status of Women by Race, Hispanic Origin, and Age, 2011
6.6 Occupation of Workers Aged 55 or Older, 2011
6.7 Share of Workers Aged 55 or Older by Occupation, 2011
6.8 Distribution of Workers Aged 55 or Older by Occupation, 2011
6.9 Workers Aged 55 or Older by Detailed Occupation, 2011
6.10 Full-Time and Part-Time Workers by Age and Sex, 2011
6.11 Part-Time Workers by Sex, Age, and Reason, 2011
6.12 Self-Employed Workers by Sex and Age, 2011
6.13 Job Tenure by Sex and Age, 2000 and 2010
6.14 Long-Term Employment by Sex and Age, 2000 and 2010
6.15 Workers Earning Minimum Wage by Age, 2011
6.16 Union Representation by Sex and Age, 2011
6.17 Projections of the Labor Force by Sex and Age, 2010 and 2020
6.18 Projections of Labor Force Participation by Sex and Age, 2010 and 2020


Chapter 7. Living Arrangements
7.1 Households Headed by People Aged 55 or Older by Household Type, 2011: Total Households
7.2 Households Headed by People Aged 55 or Older by Household Type, 2011: Asian Households
7.3 Households Headed by People Aged 55 or Older by Household Type, 2011: Black Households
7.4 Households Headed by People Aged 55 or Older by Household Type, 2011: Hispanic Households
7.5 Households Headed by People Aged 55 or Older by Household Type, 2011: Non-Hispanic White Households
7.6 Average Size of Household by Age of Householder, 2011
7.7 Households by Type, Age of Householder, and Presence of Children, 2011: Total Households
7.8 Households by Type, Age of Householder, and Presence of Children, 2011: Asian Households
7.9 Households by Type, Age of Householder, and Presence of Children, 2011: Black Households
7.10 Households by Type, Age of Householder, and Presence of Children, 2011: Hispanic Households
7.11 Households by Type, Age of Householder, and Presence of Children, 2011: Non-Hispanic White Households
7.12 People Who Live Alone by Sex and Age, 2011
7.13 Marital Status by Sex and Age, 2011: Total People
7.14 Marital Status by Sex and Age, 2011: Asians
7.15 Marital Status by Sex and Age, 2011: Blacks
7.16 Marital Status by Sex and Age, 2011: Hispanics
7.17 Marital Status by Sex and Age, 2011: Non-Hispanic Whites
7.18 Marital History of Men by Age, 2009
7.19 Marital History of Women by Age, 2009


Chapter 8. Population
8.1 Population by Age and Generation, 2010
8.2 Population by Age and Sex, 2010
8.3 Population by Age, 2000 and 2010
8.4 Number of People by Age, Race Alone, and Hispanic Origin, 2010
8.5 Number of People by Age, Race Alone or in Combination, and Hispanic Origin, 2010
8.6 Population by Generation, Race Alone or in Combination, and Hispanic Origin, 2010
8.7 Population by Age and Place of Birth, 2010
8.8 Foreign-Born Population by Age and World Region of Birth, 2010
8.9 Immigrants by Age, 2011
8.10 Language Spoken at Home by People Aged 65 or Older, 2010
8.11 Population by Age and Region, 2010
8.12 Regional Distribution of Population by Age, 2010
8.13 Age Distribution of Population by Region, 2010
8.14 Population by Generation and Region, 2010
8.15 State Populations by Age, 2010
8.16 Distribution of State Populations by Age, 2010
8.17 State Populations by Generation, 2010
8.18 Distribution of State Populations by Generation, 2010
8.19 State Populations by Age, Race Alone or in Combination, and Hispanic Origin, 2010


Chapter 9. Spending
9.1 Average Household Spending, 2000 to 2010
9.2 Average Spending by Householders Aged 55 or Older, 2000 to 2010
9.3 Average Spending by Householders Aged 65 or Older, 2000 to 2010
9.4 Average Spending by Householders Aged 65 to 74, 2000 to 2010
9.5 Average Spending by Householders Aged 75 or Older, 2000 to 2010
9.6 Average, Indexed, and Market Share of Spending by Householders Aged 55 to 64, 2010
9.7 Average, Indexed, and Market Share of Spending by Householders Aged 65 or Older, 2010
9.8 Average, Indexed, and Market Share of Spending by Householders Aged 65 to 74, 2010
9.9 Average, Indexed, and Market Share of Spending by Householders Aged 75 or Older, 2010
9.10 Average Spending of Retirees, 2000 to 2010
9.11 Average, Indexed, and Market Share of Spending by Retirees, 2010


Chapter 10. Time Use
10.1 Detailed Time Use of People Aged 55 to 64, 2010
10.2 Detailed Time Use of People Aged 65 or Older, 2010
10.3 Detailed Time Use of People Aged 65 to 74, 2010
10.4 Detailed Time Use of People Aged 75 or Older, 2010
10.5 Detailed Time Use of Men Aged 55 to 64, 2010
10.6 Detailed Time Use of Men Aged 65 or Older, 2010
10.7 Detailed Time Use of Men Aged 65 to 74, 2010
10.8 Detailed Time Use of Men Aged 75 or Older, 2010
10.9 Detailed Time Use of Women Aged 55 to 64, 2010
10.10 Detailed Time Use of Women Aged 65 or Older, 2010
10.11 Detailed Time Use of Women Aged 65 to 74, 2010
10.12 Detailed Time Use of Women Aged 75 or Older, 2010


Chapter 11. Wealth
11.1 Net Worth of Households, 2007 and 2009
11.2 Ownership and Value of Financial Assets, 2007 and 2009
11.3 Households Owning Transaction Accounts, Life Insurance, and CDs, 2007 and 2009
11.4 Households Owning Retirement Accounts and Stocks, 2007 and 2009
11.5 Households Owning Pooled Investment Funds and Bonds, 2007 and 2009
11.6 Ownership and Value of Nonfinancial Assets, 2007 and 2009
11.7 Households Owning Primary Residence, Other Residential Property, and Nonresidential Property, 2007 and 2009
11.8 Households Owning Vehicles and Business Equity, 2007 and 2009
11.9 Debt of Households, 2007 and 2009
11.10 Households with Residential Debt, 2007 and 2009
11.11 Households with Credit Card Debt, Vehicle Loans, and Education Loans, 2007 and 2009
11.12 Retirement Confidence, 2002 and 2012
11.13 Expected Age of Retirement, 2002 and 2012
11.14 Retirement Savings by Age, 2012


Illustrations


Chapter 1. Attitudes
Few Millennials trust others
Many Americans live in the same city as they did when a teenager
Older Americans are least likely to be dissatisfied with their finances
Most still believe their children will be better off
Even among older Americans, a minority thinks traditional sex roles are best
Younger generations are less likely to be Protestant
Most Millennials support gay marriage
News sources differ dramatically by generation
Fewer than half of Americans in every generation favor allowing abortion for any reason


Chapter 2. Education
The educational attainment of older Americans has grown sharply
Fewer than one in five Americans aged 75 or older has a bachelor’s degree
Well more than one-third of men aged 60 to 64 have a bachelor’s degree
More than one in four women aged 55 to 64 have a bachelor’s degree
Among older men, blacks are much better educated than Hispanics
Older women outnumber older men in school
Graduate students outnumber undergraduates among older students


Chapter 3. Health
Mental health is better among older Americans
Older Americans weigh more than they should
Many older Americans have quit smoking
Fourteen percent of 55-to-64-year-olds have no health insurance
Medicare pays for the largest share of older Americans’ prescription drug expenses
Diabetes rises with age
Nearly all older Americans have prescription drug expenses
Disabilities rise in old age
Doctor visits rise with advancing age
Heart disease is a bigger cause of death than cancer among older Americans
More years remain at the end of life


Chapter 4. Housing
After peaking in 2004, homeownership rates have fallen among all but the oldest householders
Homeowners greatly outnumber renters among householders aged 55 or older
More than 90 percent of couples aged 55 or older own their home
Older non-Hispanic whites have the highest homeownership rate
Nearly three out of four older Americans are in single-family homes
Older Americans are unlikely to move


Chapter 5. Income
Elderly householders have made gains
Incomes decline with age
Many Asian householders aged 65 or older have incomes of $100,000 or more
Among the elderly, women who live alone have the lowest incomes
Median income has grown since 2000 among men and women aged 65 or older
Incomes are high among older men who work full-time
Among women aged 55 to 64, full-time work makes a difference
Among older Americans, college graduates earn more
Social Security income is modest
Among older Americans, non-Hispanic whites are least likely to be poor


Chapter 6. Labor Force
A growing share of older men are in the labor force
Labor force participation falls with age
Among Asian men aged 65 or older, more than one in four are in the labor force
Dual earners account for half of couples aged 55 to 64
People aged 55 or older account for few workers in technical occupations
Among older men who work part-time, most are doing so by choice
Self-employment is common among older working men
More men and women aged 65 or older have long-term jobs
Few workers aged 55 to 59 make minimum wage
Few workers are represented by a union
Expect more older workers in the labor force


Chapter 7. Living Arrangements
The married-couple share of households falls in the older age groups
The married-couple share of households varies by race and Hispanic origin
Household size shrinks rapidly after age 50
The nest is slow to empty for Asians and Hispanics
Women are increasingly likely to live alone as they age
Older women are more likely to be widowed
More than one in five adults have experienced divorce


Chapter 8. Population
Forty million Americans are aged 65 or older
Eighty percent of the oldest Americans are non-Hispanic white
Among the foreign-born, those from Europe are the oldest
Most 2011 immigrants were under age 35
Many older people who speak Spanish at home cannot speak English very well
The Northeast is home to just 19 percent of people aged 55 or older


Chapter 9. Spending
The 55-or-older age groups spent more in 2010 than in 2000
Householders aged 55 to 64 spend 47 percent more than average on other lodging
Many older Americans spend more than average on a variety of items
Retirees boosted their spending on many items between 2006 and 2010


Chapter 10. Time Use
Time at work drops sharply in the older age groups


Chapter 11. Wealth
Net worth peaks among householders aged 55 to 64
Median value of retirement accounts is modest, even in the older age groups
Median housing value peaks in the 45-to-54 age group
Education loans are common among young and middle-aged householders
Most workers are not planning on an early retirement

A revolution is underway. In 2011, the oldest members of the Baby-Boom generation turned 65 and became eligible for Medicare. Many have been collecting Social Security benefits since they turned 62. The transformation of the 55-or-older population continues with each birthday celebrated by the enormous Baby-Boom generation as it enters the older age groups.

The new seventh edition of Older Americans: A Changing Market includes the latest statistics on the health, living arrangements, incomes, spending, and wealth of the 55-or-older age group. New to this edition is all-important 2010 census population data, a unique comparison of the attitudes of the four generations of American adults based on the General Social Survey, the latest homeownership rates, time use by age and sex, trends in household spending and wealth since the Great Recession, and labor force statistics with projections to 2020.

Older Americans: A Changing Market is designed for easy use. It is divided into 11 chapters, organized alphabetically attitudes, education, health, housing, income, labor force, living arrangements, population, spending, time use, and wealth.

Because the economic downturn has hurt many older Americans, an understanding of their wants and needs is increasingly vital to both businesses and government. Older Americans tells you what you need to know about this market.


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