A new study found Illinois is the No. 14 worst state for older workers when factoring in income, taxes and healthcare.
A record 10.6 million Americans 65 and over are in the workforce, a number expected to surge to 16 million by 2030 for myriad reasons. A survey found 70% work to pay for basic necessities, 60% work because they enjoy it, and the acceleration of remote work during COVID-19 has more seniors working from home.
Seniorly today released a study on the Best States for Older Workers in 2021 using data from the Census, CDC, and Tax Foundation comparing every state across five categories: labor force participation, income, taxes, healthcare, and life expectancy.
Illinois’s ranking is based on having a state income tax of 5.0%, average life expectancy of 78.8, 95.1% of seniors are on Medicare, and 49.3% of seniors have an annual income over $50,000.
The five best states for older workers are Wyoming, South Dakota, Alaska, Washington, and Vermont. The five worst are Kentucky, West Virginia, Alabama, New Mexico, and Arkansas.