A RISING TIDE LIFTS ALL BOATS: OLDER WORKER EMPLOYMENT RATES

Robert Harootyan

doi:10.1093/geroni/igz038.2398

Abstract

U.S. population aging has been accompanied by aging of its workforce. One-fourth of workers are now 55+, a result of increasing labor force participation rates (LFPRs) of boomers. Older female LFPRs increased notably since 2000, now 34% (1.5 times greater than the 1947-2000 average). Older male LFPRs steadily declined for 50 years, but increased since 2000 (currently 45%). Despite higher LFPRs, many older workers are underemployed, unemployed or having trouble finding desired jobs. We conducted a pilot to test the hypothesis that areas with strong economic and overall-employment growth are more likely to have higher age 55+ LFPRs - i.e., strong overall demand should increase the likelihood that older persons are employed. Major metropolitan areas were selected because of their large labor pools and ACS age-specific labor force data. Of 318 large metros, we selected 14 whose 2017-2018 employment growth ranged from 0.7% to 3.3% (excluded were those with small negative change and those with concentrated special industries). Results: After calculating age-specific LFPRs from ACS five-year data and overall employment growth for each metro, we found a generally strong relationship between high growth and higher than average LFPRs for persons ages 55+. For example, two opposites: Dallas, with 3.2% employment growth, had age 55+ (five year intervals to 75+) LFPRs substantially higher than the national average (by 4-7 percentage points; significant at 0.05). But Pittsburgh, with 0.8% overall employment growth, had age 55+ LFPRs slightly lower than national average. Conclusion: A rising (economic/employment) tide lifts all boats, including older workers.

Highlights

Accelerating population aging is raising concern in many countries about the availability of workers for essential work roles and responsibilities
We conducted a pilot to test the hypothesis that areas with strong economic and overall-employment growth are more likely to have higher age 55+ labor force participation rates (LFPRs) - i.e., strong overall demand should increase the likelihood that older persons are employed
The Jewish community is notable for possessing high levels of social capital, indicated by close community ties and the large number of faith and culturally based organizations, including community centres, day schools, seniors’ centres, and family service agencies, which provide many opportunities for older adults to volunteer

Summary

Introduction

Accelerating population aging is raising concern in many countries about the availability of workers for essential work roles and responsibilities. We conducted a pilot to test the hypothesis that areas with strong economic and overall-employment growth are more likely to have higher age 55+ LFPRs - i.e., strong overall demand should increase the likelihood that older persons are employed. Absent from this area of research is an understanding of volunteer motivation and experiences among culturally diverse older adults.

Objectives

Results

Conclusion