Summary
The U.S. workforce is getting older, with people aged 55 and above making up a bigger part of the workforce than in the past. The U.S. Census Bureau reports that some industries have more older workers than others, with utilities, manufacturing, and health care seeing significant increases. This trend is linked to the overall aging of the American population and is a concern for the Trump administration.
Key Facts
- People aged 55 or older made up 24% of the U.S. workforce in 2022, up from 10% in 1994.
- The utilities sector had a dramatic shift, with firms having 25% or more workers over 55 jumping from 33% in 2006 to 80% in 2022.
- Manufacturing and wholesale trade also saw a big rise in older workers, from 14% in 2000 to over 40% in 2022.
- Other industries like health care and finance have increased numbers of workers aged 55 or older.
- Retail, accommodation, and food services have fewer firms with a high share of older workers.
- States like Maine have the highest share of firms with many older workers, while states like Utah have the lowest share.
- By 2030, one-fifth of the U.S. population is expected to be over 65 years old.
