The number of Hispanics in the U.S. labor force is projected to grow 3.0% between 2010 and 2020, according to the Bureau of Labor Statistics. The number of Asians in the labor force will grow 2.7%, Blacks 1.0%, Whites 0.4%, and all other races 2.5% during this time.
The number of Americans age 55 and older who participate in the labor force is projected to grow 3.3% during this time. Workers 55 and older are expected to make up 25.2% of the labor force in 2020, up from 13.1% in 2000.
The numbers of men and women participating will grow at similar rates: 0.6% and 0.7%, respectively. Women will make up 47.0% of the labor force in 2020 (up from 46.7% in 2010), and 51.4% of the population age 16 and older (51.6%). Although the numbers of men and women in the workforce will grow, this is due to population growth; the shares of men and women who participate in the labor force are expected to decline slightly. More than seven in 10 men age 16 and older (71.1%) participated in the labor force in 2010, compared to 58.6% of women. In 2020, 68.2% of men and 57.1% of women are expected to be in the labor force.
The aging of the large Baby Boomer population will result in a smaller share of adults overall participating in the labor force (although Boomers are working later in life than their predecessors —Ed.).
In 2010, 40.2% of Americans age 55 and older were in the labor force; this is expected to reach 43.0% by 2020. The weak economy is also affecting labor force participation, but this is being partly offset by Boomers’ continuing to work. Labor force participation among women age 55 and older has grown significantly in the past two decades, from 22.9% in 1990 to 35.1% in 2010. Nearly four in 10 women in this age group (39.3%) are expected to be in the labor force in 2020.
Participation rates of women ages 16-24, on the other hand, are declining. More than six in 10 (63.0%) were in the labor force in 2000, but only 53.6% were in 2010. Fewer than half (45.7%) are expected to be in the labor force by 2020.
The proportion of adults considered “prime” working age (25-54) who participate in the labor force has declined since 2000 and is expected to continue to do so through 2020.
Source: “Labor Force Projections to 2020: A More Slowly Growing Workforce,” January 2012, Bureau of Labor Statistics, Mitra Toossi, Economist, Office of Occupational Statistics and Employment Projections, 2 Massachusetts Ave., NE, Washington, DC 20212; 202-691-5700; toossi.mitra@bls.gov; www.bls.gov
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