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Study: 50-plus population has huge effect on economy

Americans age 50 and over generated about 42 percent of national GDP, despite only making up about 35 percent of the overall U.S. population, research from AARP and Oxford Economics shows.

By Marlene Y. Satter | Updated on September 26, 2016
Direct spending on consumer goods and services, including health care, by 50-pluses totaled $5.6 trillion in 2015. (Photo: Getty)

They may be written off in the job market and even by Hollywood, but don’t sell older generations short; AARP says they’re not only redefining aging, but having an effect on the economy that goes beyond sheer numbers.

The study “The Longevity Economy: How People Over 50 are Driving Economic and Social Value in the U.S.,” commissioned by AARP in conjunction with Oxford Economics, found that 50-plus folks staying in the workplace are “redefining aging” as well as contributing an increasing amount to the economy. In 2015, that group was responsible for $7.6 trillion in economic activity — up from $7.1 trillion in 2012 — and that economic contribution will continue to rise.

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