Older Adults Help Oregon's Economy

Move over, outdated modes of thinking. A new report shows that older adults make an outsized contribution to economic health in Oregon.

The Longevity Economy was published by AARP.

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As Oregon’s population ages, older residents will play a critical role in the state’s economic recovery and growth. Even after accounting for the impact of COVID-19, Oregon’s aging population will continue to make economic and social contributions that benefit people of all ages, and the growth of this age group will fuel innovation and new market solutions.

Policymakers, business leaders, and elected officials must ensure programs and policies are in place to support and grow this economic engine.

The economy is a focus AARP Oregon's efforts to help Oregon become an Age Friendly state, a place where people of all races, ages and abilities can thrive and be valued for their contributions. Age-Friendly communities look at eight domains that contribute to the well-being of residents.

One area of concern is age discrimination in employment. Age discrimination against Americans age 50-plus cost the U.S. economy $850 billion in 2018. The Economic Impact of Age Discrimination, the latest report in the Longevity Economy outlook series, found that the potential economic contribution of the 50-plus age cohort could increase by $3.9 trillion annually in a no-age bias economy, which would mean a contribution of $32.1 trillion to GDP by 2050

In the past, some have seen older adults as a drag on the economy.
But the data is clear: older adults are an important economic engine for communities here in Oregon and across the United States.

Read more about the "Longevity Economy," here.