Monday, June 07, 2010

University study finds that "labor force participation rates" for older workers will improve a lot in the next few years

Phillip Moeller from US News and World Report has a story reprinted on Yahoo! Finance today that offers more than a “ray of hope” for older workers, with link here.

Demographics will put pressure on baby boomers to return to the workplace, as there are fewer younger and middle aged workers to support them.

A study from Northeastern University by Barry Bluestone and Mark Melnik say that in eight years, “labor force participation rates” in older workers (LFPR’s) will have to increase from 65.4% to 74.4% for workers 55 to 64. Companies will no longer have the luxury of pushing workers in their 50s out the door.

But the list of fields in which the need for workers is greatest does seem to be in “personal contact” jobs, including teachers, nurses, medical technicians, home health aides and child care workers.

The PDF for the 31 page report, sponsored in part by the MetLife Foundation, is here. The University blog entry describing the report is here.

Picture: notice the basketball; it took quite a shot to put it there (in a church gymnasium).

No comments: