Employer Alerts and Career Advice

Employer Alerts and Career Advice / Companies Look To Senior Adults 55+ Work | Stats Remain High

Companies Look To Senior Adults 55+ Work | Stats Remain High

January 5, 2022

Click on above image to run video.

 

“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.) BLS - Labor Force Participation 55+ 1-5-22

 

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!

 


Michael Yublosky
Michael Yublosky is truly an xBound success story. Yublosky specializes in LinkedIn and internet marketing and works on a part-time basis to stay current and relevant. He helps senior adults and small businesses establish their unique brand, identify target markets and keywords, differentiate themselves and develop professional strategies and tactics to engage with prospective employers or clients. He also teaches senior adults how to enhance their technology and computer skills to better adapt to current demands. Connect with Michael on LinkedIn.
 
RETURN TO ADVICE