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RetireeWorkforce/Vizu Corporation Research Finds 75% Of Labor Force Plans To Work After Retirement

Monmouth County, NJ (PRWEB) October 4, 2007 -- A new survey conducted by online polling and market research provider Vizu Corporation on behalf of RetireeWorkforce.com says that more than three-quarters of people working today plan to continue working into their retirement years. Nearly 40% of all respondents reported they anticipate doing so for monetary reasons, either to meet daily needs or to boost their quality of life.

According to results of the survey, conducted during September using a voluntary online audience, 34.1% of those surveyed said they will work to "make ends meet", while another 14.7% said they would seek employment to "earn extra income to boost their quality of life". Nearly 22% answered that their motivation for working would be "the mental stimulation and challenge"; 4.7% said it would be "for the personal and human interaction."

Of all those surveyed, 24.8% revealed they don't plan to be working in their retirement years. The survey results contain an 8% margin of error at 90% confidence.

"Attitudes about work are definitely changing. People are perceiving work as much more of a lifelong endeavor, rather than simply a lengthy phase," said Joseph J. Scalice President and CEO of RetireeWorkforce.com. "Individuals maintain their health and earning power longer than ever. Those shifts, combined with the economic realities of reduced personal savings, self-funded retirement plans and a more mobile society that often breaks the close-knit extended family, has caused people to re-think what it means to be retired."

Studies by Merrill Lynch and Ernst and Young study bears out the RetireeWorkforce.com/Vizu research, finding that from 74% to 85% of all Baby Boomers want to remain in the workforce in some capacity.

Employers Challenged

Other statistics indicate that employers will need these experienced, senior workers. A study released in 2007 of New York employers by the AARP, conducted by consulting firm Towers Perrin, showed that 62% expected to face a workforce shortage in the next five years. Half of those surveyed

RetireeWorkforce/Vizu Corporation Research Finds 75% Of Labor Force Plans To Work After Retirement admitted that a significant amount of knowledge will be lost, and 60% said they are having a difficult time finding qualified workers. Despite the situation, only 23% have implemented any steps to prepare for the labor shortfall.

Employers will have good reason to embrace the aging Boomer market. In the next 10 years, the 50-plus demographic will grow by 22 million; 78 million Baby Boomers will retire in the next twenty years, a rate four times the growth of the 18-59 age group over the same period.

Before the midpoint of the 21st century, in fact, 90 million Americans will be 65 or older, doubling today's senior population and creating the single largest demographic segment in the U.S.

Retiree-Specific

RetireeWorkforce.com exists specifically to meet the fast-changing needs of both employers and workers in America. The Web site, launched in mid-2007, provides a clearinghouse for jobs suited for more mature, experienced workers. Major companies including CVS, Hertz, PathMark, Marshall's and Staples, among other employers, have already begun placing job openings on the site, which currently lists over 55,000 blue- and white-collar jobs in a variety of industries.

RetireeWorkforce.com is a free service for candidates. Job seekers can post their resumes online at www.retireeworkforce.com. Companies seeking to advertise or post jobs please go to www.retireeworkforce.com

About RetireeWorkforce.com:

Founded in 2007, RetireeWorkforce.com provides a network of highly qualified retirees to suit companies' specific hiring needs. These talented and highly motivated individuals have the knowledge and experience to provide organizations with a competitive advantage. RetireeWorkforce.com attracts some of the nation's largest and most respected employers including CVS, Hertz, Marshall's, PathMark, and Staples. Headquartered in Monmouth County, NJ, RetireeWorkforce.com is privately funded. Visit www.retireeworkforce.com.

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