Will an Older Workforce Be Able To Find Jobs in the Future?
Older workers have generally been working longer, but will available jobs be able to support them? According to research by the Center for Retirement Research at Boston College, certain factors could impact prospects for an aging workforce.
An older worker’s ability to find employment could be impacted by their ability to do their job as they grow older, and people can only work when firms are willing to hire them. Gal Wettstein, one of the authors of “Will the Jobs of the Future Support An Older Workforce?” noted that these two factors are linked, as firms could potentially be concerned about declines in productivity due to age, thus making them less willing to hire older workers.
The report found that occupations that have a larger share of older workers are projected to have fewer jobs by 2030; however, the jobs that older workers currently hold may be different from those that older workers hold in the future.
After examining 26 occupational categories, the team concluded that the best jobs for older workers over the next 10 years are in legal, entertainment, management, business and financial operations and other white collar jobs.
However, there was no significant relationship between the suitability of occupations for older workers and the projected number of jobs in 2030. These findings suggest that the best jobs for older workers are not going to grow less rapidly than jobs as a whole.
While the jobs that are currently employing older workers are projected to grow slowly, the study indicated that the lack of significant results for jobs that older workers could do is more encouraging. Jobs in occupations suitable for older workers should grow at the same rate as all jobs in general, which is neither faster nor slower.
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