May 22, 2018 At a Glance Evidence of an Aging American Workforce: the Impact of the Baby-boom Generation Baby Boomers have significantly increased longevity of those that have workforce with Millennials, even as impacted labor force demographics already reached that threshold. This has older workers remain in the workforce. since the 1970s due to this generation’s important implications: • This poses some tough challenges in sheer size. managing the workforce and providing • The proportion of the labor force that employee benefits to serve the needs The most recent result is more older is ages 55 or older is going to continue of the many workers that are closing in workers in the labor force, due to both to increase. on retirement, as well as workers just the larger size of the generation • Employers will have a relatively larger starting out. reaching ages 55 or older, and to the pool of younger workers to add to their Distribution of U.S. Population for Ages 16 or Older, by Age, 1975–2017 (Unadjusted December of Each Year) 25 20 15 1975 1980 1985 1990 1995 2000 2005 2010 2015 16–24 25–34 35–44 45–54 55–64 65+ Dotted lines represent Baby Boomers in the age demographic Change in Labor Force Participation Rates (%) 2000–2017 for Labor Force Participation Rates (%) Since 1987 for Ages 55 and Older Ages 16 and Older 80% 1987 2017 70 60 50 40 –17.6 –7.6 +4.9 +6.0 30 20 10 16–19 20–24 55–64 65+ 55–59 60–64 65–69 70–74 75+ Age Group Age Group “Labor Force Participation Rates by Age and Gender and the Age and Gender Composition of the U.S. Civilian Labor Force and Adul t Population.” Craig Copeland and EBRI Issue Brief 449. (Employee Benefit Research Institute May 2018.) % of Population