May is Older Americans Month, first designated so by President John F. Kennedy in 1963, when it was known as Senior Citizens Month.
According to the U.S. Census Bureau, there were 41.4 million people over the age of 65 on July 1, 2011, up from 40.3 million on April 1, 2010. In 2011, this group accounted for 13.3 percent of the total population.
The population of individuals over the age of 65 is expected to more than double by 2060, with 92 million or one in five Americans being in that age group. Of this figure, 18.2 million would be 85 years old or older. Only 2.4 million of these will be Baby Boomers.
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Nearly 17 percent of the global population will be 65 or older in 2050, up from 8 percent today. According to the International Data Base, Europe became the first major world region where the population of people over the age of 65 outnumbered those younger than 15. By 2050, it will be joined by Canada and the United States, Asia, Latin America and the Caribbean and Oceania.
In 2011, the median income of households headed by those over age 65 was $33,118. Nearly 9 percent of those over the age of 65 were living in poverty. There were 3.6 million seniors living in poverty in 2011.
Sixteen percent of people over the age of 65 were still working in 2011, a slight increase from 2010. In 1990 that figure was 12 percent. Among those who were still working at age 65 in 2011, 44 percent were still working full-time, year-round. The District of Columbia had the highest rate at 62.2 percent.
The name Senior Citizen Month was changed to Older Americans Month by President Jimmy Carter in 1980 to celebrate those who are 65 and older.
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