An Aging Workforce In the United States, the Bureau of Labor Statistics (BLS), a

Question

An Aging Workforce In the United States, the Bureau of Labor Statistics (BLS), an agency of the Depan ment of Labor, tracks changes in the composition of the U.S. labor force and forecay employment trends. The BLS has projected that from 2010 to 2020, the total Us civilian labor force will grow from 154 million to 164 million workers., This 65% | increase is noticeably lower than the 13.4% increase experienced during the 1990s. Some of the expected change involves the distribution of workers by age. From 2010 to 2020, the fastest-growing age group is expected to be workers 55 and older

Explanation / Answer

According to the Bureau of Labor Statistics in USA, stated that American labor force has been changing in composite and trends this statistics also projected about these changes up to 2020. In further this reports says about working age group 55 and more over will be increase, age group between 25 and 44 would be same but slight increase can be expect and age group between 16 and 24 remain fewer. In the year of 2020, we can expect more employees would get retirement so they think about their retirement plans and benefits. But critically organization has struggling to face the high expense and retirement benefits for retirement employees, if they retired organization should face youth employees, between 25- 44 age group most of them expect high wages and salaries, organization implement any new plan retain these type of employees in the office.   Now a days between 55 and more age group never want to show the interest to retire at the same time there are ready to reduce the time to take proper rest. Retired employees can work consultant and contract workers this has created 3 to 4 generation employees working to gather and sharing the knowledge, ideas and values. In additional between 55 and more over age group expected income and employment security, between 45 and 54 age group expected to develop their management skill, between 25 and 44 age group employees growing with latest technology, innovation, expected to noticed by others as well as seeking rewards and awards.

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