Companies Look To Senior Adults 55+ Work | Stats Remain High
January 5, 2022
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“In four years, 25% of the US workforce will be over 55. Historically 40% of retirees return to the workforce, many just part time.
“Lucky for companies, that means a huge talent pool of experienced workers to draw from.
“That’s where xBound comes in. We connect companies with experienced, reliable workers who aren’t quite ready to retire. See who’s out there!
“xbound.us Experience matters.”
Zave Smith, co-founder of xBound
According to the U.S. Bureau of Labor Statistics (1/5/22), the participation rate in the workforce was 38.4% of Senior Adults 55+ as of November, 2021. (See the chart below.)
This included all industries, occupations, every ethnicity, all races, both sexes and all educational levels. Pretty inclusive wasn’t it!
Employers take a peak at the net change over the past 12-months in the BLS Data Viewer. There was no major deviation in whatever increment you select.
The latest “Job Openings and Labor Turnover Summary” was released by the U.S. Bureau of Labor Statistics yesterday. It reported (a staggering):
“The number of quits increased in November to a series high 4.5 million (+370,000). The quits rate increased to 3.0 percent, matching the series high in September. Quits increased in several industries with the largest increases in accommodation and food services (+159,000); health care and social assistance (+52,000); and transportation, warehousing, and utilities (+33,000). The number of quits increased in the Northeast, South, and Midwest regions.”
Where Should Companies Be Looking To Fill Job Openings.
Decision makers at companies and organizations should examine the two statistics together and scratch their heads as to why they are not more inclusive. November, 2021 saw a high of 4.5 million quit their jobs. The percentage of Senior Adult workers 55+ in the workforce remained constant for the year ending November, 2021!