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Number of people 75 and older in the labor force is expected to grow 96.5 percent by 2030
November 04, 2021
The labor force is expected to increase by 8.9 million, or 5.5 percent, from 2020 to 2030. The labor force of people ages 16 to 24 is projected to shrink by 7.5 percent from 2020 to 2030. Among people age 75 years and older, the labor force is expected to grow by 96.5 percent over the next decade.
Percent change in civilian labor force by age, 2000–10, 2010–20, and projected 2020–30
Group
2000–10
2010–20
2020–30
Total, 16 years and older
7.9%
4.5%
5.5%
16 to 24
-7.0
-3.5
-7.5
25 to 54
1.5
-0.3
5.6
55 to 74
30.2
20.0
7.7
75 and older
60.2
53.7
96.5
The labor force participation rate for people age 16 and older is projected to decline, from 61.7 percent in 2020 to 60.4 percent in 2030. The labor force participation rate for people ages 16 to 24 is projected to decline from 53.9 percent in 2020 to 49.6 percent in 2030. The rate for people ages 25 to 54 is projected to hold steady, while the rate for people ages 55 to 74 is projected to decrease slightly. The only age group whose labor force participation rate is projected to rise are people age 75 and older, from 8.9 percent in 2020 to 11.7 percent by 2030.
Civilian labor force participation rates by age, 2000, 2010, 2020, and projected 2030
Group
2000
2010
2020
2030
Total, 16 years and older
67.1%
64.7%
61.7%
60.4%
16 to 24
65.8
55.2
53.9
49.6
25 to 54
84.0
82.2
81.4
81.4
55 to 74
32.4
40.2
39.2
38.6
75 and older
5.3
7.4
8.9
11.7
Age of baby boomers
36 to 54
46 to 64
56 to 74
66 to 84
By 2030, all baby boomers will be at least 65 years old, and 9.5 percent of the civilian labor force is projected to be older than 65. Not only is the share of older people in the labor force growing, but their labor force participation rates are rising.
United States Department of Labor
