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National study forecast the outlook for older workers
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Local Employment Dynamics
Want to know where you stand if you’re part of the growing older workforce?
The Census Bureau has released a series of reports on workers 55 and older. National projections indicate that the population 65 and older will increase from about 1 in 8 people to 1 in 5 people by the year 2030, so that older workers will likely compose an increasingly larger proportion of each state’s workforce.
These reports about older workers shows how the proportion of a state’s labor force has increased and gives an accurate measurement of employer-provided health and pension plan coverage. This important data about the changes in the size and composition of age groups may affect government program and policy choices and the options available to businesses.
Whether, and in what industries, the large wave of workers born during the Baby Boom of 1946 to 1964 are currently working may influence their labor force behavior beyond traditional retirement ages. That is important information for firms planning for the eventual loss of experienced workers and the payout of pensions. In 2004, the Baby Boom cohort was aged 40 to 58. These reports use data from the Local Employment Dynamics (LED) program to show the geographic distribution and the economic dynamics among private sector workers 55 and older and also including some statistics on those aged 45 to 54. With the LED information, state planners can monitor changes in the workforce and emerging trends.
So what’s in the report? Each participating state receives 27 indicators for each county, for each industry, for each quarter for which they provide data. These indicators include:
- Measures of job gain and loss for different types of workers – so that economic development agencies know where jobs are created and for whom
- Measures of hires and layoffs for different types of workers – so that Workforce Investment Boards know what skills to provide
- Measures of employment by where people work and where they live – so that transportation planners know where roads and public transportation should be located to reduce congestion and pollution, while improving emergency evacuation routes and businesses know where to locate their establishments and attract workers
Measures of earnings by type of worker – so that job search professionals can provide information on job location decisions and career counselors can tell students where to get jobs
To download information about your state visit the State only data section: http://lehd.did.census.gov/led/partnersonly/statesonlyadmin.html
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