September 2nd, 2007
17% of US work force are baby boomers
US Bureau of Labor Statistics reports that the share of the labor force aged 55 and older, currently at 17%, is rising rapidly and, by 2020, it is projected to be nearly 24%. A mass exodus of Baby Boomers, currently between the ages of 43 and 61, from the labor force as they reach retirement age would cause a significant labor shortage. Some experts predict that by 2012, there will be 3.3 mln fewer workers than jobs. Retaining older workers longer would alleviate the expected shortage.
Alex is a software engineer in the San Francisco Bay Area. ITFacts is created and updated by a group of statistics-obsessed individuals.
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