Big US cities see gains as boomers delay retirement

March 24, 2010 at 12:00a.m.

Associated Press

WASHINGTON

Battered by recession, more older Americans are staying put in traditional big cities to hold onto jobs, creating slowdowns in population growth at once-popular retirement destinations widely found in the South and West.

Census estimates released Tuesday capture the impact of the housing downturn and economic recession, including the period after the financial meltdown in late 2008, on the nation’s counties and metropolitan areas.

The population figures show that annual growth of retirement-destination counties slipped from 3.1 percent between 2000 and 2007 to 1.7 percent between 2007 and 2009, despite the large cohort of baby boomers who are reaching retirement age.

In all, 126 of the 440 retirement counties — those that attract large numbers of people 60 and older — lost population during the recession, many of them in Sunbelt areas such as Florida, Arizona, New Mexico and California. In Florida, 33 of its 43 retirement counties grew more slowly, and seven others lost population.

Retirement magnets in other parts of the nation saw significant declines, too, including Michigan, Pennsylvania and Ohio.

In the next few years, the number of older workers will increase by 11.9 million, making up nearly one in four workers by 2016 as more seniors hold onto jobs due partly to shriveled home values and decreased stock portfolios.