Employment Population Ratios
- The percentage of people age 16-19 who are working bottomed at the end of the great recession and has risen steadily since.
- Age group 16-19 is the only employment age group that is above the pre-Covid level.
- Employment in age group 65+ has risen nonstop until Covid.
- Employment in age group 60-64 took a deep dive.
Employment Change in Thousands
- Since February 2020, employment in age group 60-64, a highly skilled age group, is down 5,364,000.
- Since February 2020, employment in age group 16-19, a highly unskilled age group, is up by 72,000.
- Age group 16-19 is the only age group whose employment is above the pre-Covid high.
Population vs Population in January 2000
Key Population Stats Since January 2000
- The total population has increased by 49.693 million.
- The population in age group 55 and older is up by 40.586 million.
- The population in age group 60-64 is up by 10.465 million.
- The population in age group 16-54 is up by only 9.107 million
- In the next 5 years, over 10 million workers will move from age group 60-64 into age group 65+ (point 3 above)
- The employment population ratio of age group 60-64 is 48.99% down from 56.11% pre-Covid.
- The employment population ratio of age group 65+ is 14.27% down from 20.10% pre-Covid.
The shortage of skilled labor is poised to get worse.
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