Mature Market Experts Stat of The Day: The Senior Workforce and Labor Day

Happy Labor Day to the world’s mature market experts and workers! You all deserve a break.

Now, some labor statistics: The mature market is now the fastest growing age group of workers in the US.

Of American seniors still living independently, 17.7% of senior men were working in 2000. By 2012 this number will be up to 20.8%. Meanwhile, during that same period of time, the total percent of men in the workforce is expected to decrease by 1.7%.

By 2012, the percentage of senior women working will jump by 2.7%. Of course, this number will be nothing compared to the group of women ages 55 to 64 (the group that came to work when dual-income families became the norm) which will experience an 8.7% jump.

Employers would be wise to make accommodations for this older workforce if they want to retain key employees and maximize revenue.

 

Source for statistics: U.S. Bureau of Labor Statistics

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