Financial stability is slipping further out of reach for older adults in New York City, as new data reveals a sharp rise in poverty, unstable retirement income, and increasing workforce participation among residents aged 65 and older.
According to a policy brief supported by AARP, more than 250,000 older New Yorkers—250,901 residents aged 65 and over—were living in poverty in 2023, marking a 40.9 percent increase since 2013. This rate of growth far exceeds the city’s 33.5 percent increase in its older adult population over the same period.
“This goes beyond just a few extra dollars for the [Department for the Aging],” said the Centre for an Urban Future…