Older Residents Boost State's Economy

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If you’re 50 or older and live in Delaware, you’re probably doing more than your share to boost the state’s economy. A recent report by Oxford Economics for AARP dispels the myth that older people are a fiscal burden.

Delaware households headed by someone 50 or older represent 38 percent of the state population, yet account for 51 percent of its gross domestic product. These households account for 59 percent of consumer spending in the state, mostly in health care, entertainment and utilities.

The study also found that 70 percent of Delawareans 50-64 are employed, representing about 36 percent of the state’s workforce. Nearly half have professional jobs, while 11 percent are self-employed entrepreneurs—nearly double the 6 percent of 25- to 49-year-olds who fit that description.

For details, go to aarp.org/2017longevityecon and click on DE.