Wednesday, February 21, 2018

Oregon's Aging Workforce

Oregon’s workforce is aging. The number of Oregon jobs held by workers age 55 and over more than tripled from 1992 to 2016, while the total number of jobs grew by just 42 percent. Workers 55 years and over held just 10 percent of the jobs in 1992, increasing their share to 23 percent of all jobs by 2016. Driving this trend is the fact that much of the baby-boom generation is now 55 and over, and they are more likely to be in the labor force than previous generations were at this age. Many of these workers are probably planning to retire in the next 10 years, taking their skills and experience with them.

Although the aging workforce is a general demographic trend, it impacts employers, industries, or regions to varying degrees. Employers should know the age profile of their own workforce so they can plan accordingly for increased turnover from retirees. At a broader level, workforce planners need to know the demographic profiles of entire industries and regions to help gauge the need for future replacement workers.
To learn more about Oregon's aging workforce and the industries and counties impacted, see the full article written by the state employment economist Nick Beleiciks

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