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American Labor Force growing Older, More Diverse
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The American labor force is undergoing a significant demographic shift, with an increasing number of older workers aged 55 and above.
According to a report from the Employee Benefit Research Institute (EBRI), the share of the labor force comprising Americans aged 55 or older has been steadily growing since 1981. This trend is attributed to the aging of the Baby Boomer generation, with the youngest Boomers turning 60 this year.
Notably, the data shows that the most significant increases have been observed among workers aged 65 to 69, while the share of workers aged 55 to 59 has declined by approximately 14 percentage points since 2002. The report also highlights the increasing diversity within the older workforce, with a smaller percentage of White Americans and a growing representation of Black and Hispanic Americans.
The EBRI emphasizes the importance of these demographic changes for employers, as they may necessitate adjustments to employee benefit plans and workplace policies to accommodate the needs of an older and more diverse workforce.
For a more detailed analysis and access to the full report, you can visit the following link:
https://www.mcknightsseniorliving.com/news/american-labor-force-growing-older-more-diverse-report/
Notably, the data shows that the most significant increases have been observed among workers aged 65 to 69, while the share of workers aged 55 to 59 has declined by approximately 14 percentage points since 2002. The report also highlights the increasing diversity within the older workforce, with a smaller percentage of White Americans and a growing representation of Black and Hispanic Americans.
The EBRI emphasizes the importance of these demographic changes for employers, as they may necessitate adjustments to employee benefit plans and workplace policies to accommodate the needs of an older and more diverse workforce.
For a more detailed analysis and access to the full report, you can visit the following link:
https://www.mcknightsseniorliving.com/news/american-labor-force-growing-older-more-diverse-report/
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- Posted by: Kevin Mauro
- Posted in: Older Workers