Last month Congressional Budget Office Director Peter Orszag told the House Education and Labor Committee that an estimated loss of as much as $2 trillion in the past 15 months had made Americans’ retirement plans lose approximately 20 percent of their value. This means that many workers on the verge of retirement will likely keep working and those already in retirement may return to the workforce as retirement becomes unaffordable.
AARP, an advocacy group for Americans 50 and older, commissioned a survey in September assessing how recent economic changes had impacted the financial security, including retirement goals, of Americans 45-plus. It showed:
• 65 percent will work longer
• 24 percent have increased their work hours
• 20 percent have stopped putting money into a 401(k), IRA or other retirement account
• 27 percent are having trouble making rent or mortgage payments
• 58 percent think they are not saving enough for retirement
• 13 percent prematurely withdrew account funds, despite penalties incurred before age 59 1/2.
The federal Bureau of Labor Statistics reports that 6 million people 65 and older are employed, an increase of 101 percent in 10 years. Additionally, full timers are now the majority among older workers—56 percent in 2007, compared to 44 percent in 1995. Perhaps most telling is the dramatic 80 percent projected growth rate for workers 65 to 74 as well as 75 and above, between 2006 and 2016, as baby boomers keep working and working and working.
Those hardest hit are in or near retirement. Many have come out of retirement, taking part-time employment, to preserve their current lifestyle accommodations.
Patrick Rafter, a vice president at the website RetirementJobs.com, says that mature workers should not despair: Employers find this demographic to be dedicated, loyal, show up on time, have fewer absences and have less job turnover than younger colleagues. Rafter offered tips for job-hunting retirees:
1. Get Computer Literate—Now! Become savvy with applications such as Microsoft Office, e-mail and Web navigation.
2. Get Connected—Today’s job-search process is different from the days of mailing letters and awaiting replies. Invest in a laptop computer, get an e-mail account with a professional-sounding name and own a reliable cell phone. These will help you effectively research jobs and give employers a means to find you.
3. Stay Healthy—Looking for work and working are physically draining. Ensuring that you keep physically active and fit will give you the stamina and energy you need to get hired and remain on the job.
4. Seek Out “Age Friendly” Employers—Retirementjobs.com identifies and certifies employers who’ve proven over time to be “age friendly.” Their policies and practices show that they retain, hire and rehire people older than 50.
5. Broaden Your Horizons—Going back to doing what you did earlier in your career is just one option to explore. Consider turning an avocation into an income stream, or returning to school to brush up on a skill or gain certification that could lead to a new field or business launch.

Nancy Schuman is a vice president at Lloyd Staffing, headquartered in Melville, and is the author of seven how-to books on career guidance and job-search techniques. Lloyd Staffing offers temporary, contract and full-time employment services on a regional and national basis. Send your career-related questions to jobadvice@lloydstaffing.com.

Some Web Resources for Mature Workers:
• www.Retirementjobs.com
• www.Job4Point0.com
• http://Jobs.aarp.org
• www.Boomercareer.com
• www.Wiserworker.com