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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 219-7317 x114
The aging of America's 83 million Baby Boomers will have significant
effects on our nation's workforce and workforce development programs, according
to recent Urban Institute study sponsored by the U.S. Department of Labor and
released during National Older Workers Employment Week.
As the median age of America's workforce rises to 41 in 2005 --from 34
in 1980--the ranks of workers 45 or older will increase to about 55 million, to
nearly 40 percent of the labor force, according to the report. The study
indicates that the workforce will continue to age until about 2015, when the
first Baby Boomers begin to retire, raising significant challenges because
older workers often encounter serious difficulty finding employment when they
lose jobs or seek to change careers.
"To maintain our dynamic economy and to fill the jobs of the 21st
century, we must make the most of the creative potential and productive
capacity of this growing segment of our society," President Clinton said in a
proclamation declaring March 8-14 National Older Workers Employment Week.
"At a time of notable skills shortages, older workers are a resource
that America cannot afford to squander," said Secretary of Labor Alexis M.
Herman. "Global competition and job growth will put pressure on us to fully
utilize our experienced older workers in the 21st century. They have much to
offer American business, and it is crucial and, indeed, in the self-interest of
employers to recognize and fully utilize our nation's older workers."
Baby Boomers in general have done better than any previous generation in
income and education. However, some--especially those who are younger or have
less education--have been less successful. For example, the 9 million Baby
Boomers who have not graduated from high school have average inflation-adjusted
incomes 12 percent lower than those with similar education in their parents'
generation. As they age, the number of poor older adults will rise from about 8
million people over age 45 below the poverty line to about 10 million by 2005.
The increasing number of low-income older workers will increase demand
for public employment and training programs, according to Stacy Poulos and
Demetra Nightingale, authors of The Aging Baby Boom: Implications for
Employment and Training Programs. Today, more than 200,000 low-income workers
over age 45 participate in at least one employment, training or retraining
program administered by the Labor Department. Half are over 65 and are served
by one of two programs geared for people 55 and older.
By 2005, the percentage of participants in programs under the Job
Training Partnership Act (JTPA) who are 45 years of age and older will rise to
20 percent from about 11 percent in 1995. The report also suggests that policy
makers should "leverage both public and private resources and/or initiatives to
both minimize the number of retired Baby Boomers who need extra public support
and maximize the productive activity" of this generation as they reach their
sixties and beyond.
Because of anticipated increased demand for employment services and
income support from older Baby Boomers, especially those "with relatively less
education and skills," the report concludes, "employment and training programs
should begin now to prepare for the aging of their participants."
For a copy of The Aging Baby Boom: Implications for Employment and
Training Programs, write the U.S. Department of Labor's Office of Policy and
Research, Employment and Training Administration, 200 Constitution Ave., NW,
Wash., D.C.; telephone: (202) 219-8660.
Archived News Release--Caution:
information may be out of date.
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