Older workers crucial to US economic success
The U.S. is undergoing a demographic shift that is changing older Americans’ relation to the workplace.
The average and median age of the U.S. population is rising, and the composition of the workforce with it. Individual workers are tending to remain in the workforce longer and retire later.
The U.S. Bureau of Labor Statistics estimates that between 2021 and 2031 the number of workers ages 55 years and older will increase by about 10.2% to almost 41.5 million workers nationwide. With an estimated 10,000 adults turning 65 every day, retaining and recruiting older workers will become increasingly important in addressing labor shortages.
National Employ Older Workers Week, which takes place annually the last full week of September, recognizes the vital role of older workers in the labor force.
Again this year, the Michigan Department of Health and Human Services and the Michigan Department of Labor and Economic Opportunity are joining the federal Department of Labor in observing National Employ Older Workers Week to honor older adults and their influence and impact in the workforce.
This year’s theme “Embracing Experience and Empowering Futures” aims to explore diverse aging experiences and discuss how older workers and employers can combat common stereotypes. With Michigan’s growing older adult population, the number of individuals working past the age of 55 is currently at a historic high.
Employers rate older workers high on characteristics such as judgment, commitment to quality, attendance, and punctuality.
“Michigan’s economic landscape is continuously evolving, and the Michigan Department of Labor and Economic Opportunity is committed to supporting older workers and their employers to help all Michiganders have a better quality of life for themselves and their families,” LEO Director Susan Corbin said. “We thank older workers for their dedication and valuable contributions to our workforce, communities and the overall prosperity of our state for generations to come.”
Older adults make up nearly one quarter of Michigan’s population and their lived experience, skills and knowledge can and should be leveraged to enhance Michigan’s workforce, said Elizabeth Hertel, MDHHS director.
National Employ Older Workers Week also showcases the Senior Community Service Employment Program, which provides on-the-job skills training to individuals 55 or older with limited financial resources. Since its inception, SCSEP has helped more than 1 million older Americans enter the workforce.
– Iron Mountain Daily News