US seniors' fortunes hold steady in post-recession years

Waxahachie, Texas

MOST Americans suffered serious losses during and after the recession, knocked off balance by layoffs, stagnant pay and the collapse of home values. But apart from the super rich, one group's fortunes appear to have held remarkably steady: seniors.

Supported by income from Social Security, pensions and investments, as well as an increasing number of paychecks from delaying retirement, older people not only weathered the economic downturn that began in 2007 but made significant gains, a New York Times analysis of government data has found.

As a result, America's middle class is greying. People on the leading edge of the baby boom and those born during World War II - the 25 million Americans now between the ages of 65 and 74 - have emerged as particularly well positioned in the nation's economic timeline. While there are plenty of individual exceptions, as a group they are bet…