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Dramatic shift in US workforce demographics, report finds

March 27, 2015

Major demographic shifts in the US since 2001 have led to a workforce that looks quite different today, according to The Changing Face of U.S. Jobs report released by CareerBuilder. The report tracks the changing composition of jobs by gender, race and age from 2001 to 2014.

Men occupy a broader array of career fields, the number of occupations heavily represented by workers 55 and older has more than doubled, and white workers lost share of employment in each of the 50 highest paying jobs, the report found.

“We need to move beyond the simplistic, antiquated notions of pink-collar, blue-collar and white-collar jobs and focus on bringing the best people, regardless of gender, into the roles required of a healthy economy,” said Rosemary Haefner, chief human resources officer for CareerBuilder. “Men are contributing in a wider variety of occupations than at the turn of the century, and as women continue to make up a larger share of the workforce, we must ensure they have the same access and opportunity for success in all professions.”

Key takeaways from the report include:

  • Since 2001, female workers lost share of employment in 48 out of the 50 highest paying jobs.
  • Millennials are performing jobs formerly held by teenage workforce.
  • College graduation classes are more diverse, contributing to workforce gains for Hispanic/Latino and Asian workers.
  • Black/African American workers gained in 44% of the 50 highest paying jobs.

The most dramatic demographic shift in workforce composition is age, according to the report. The teenage workforce is 33% smaller than in 2001, while the age 55 and older workforce grew 40%. Jobs for young professionals age 22-34 grew only 4%, while employment for workers age 35-54 shrunk by 1%.

“The implications of the aging workforce boil down to a simple question: As workers retire, will there be enough qualified candidates to fill the vacated jobs?” said Matt Ferguson, CEO of CareerBuilder. “When employment growth projections and replacement needs are taken into account, millions of high and middle-skill occupations will be available in the next decade. This will require workforce planners and talent acquisition executives to evaluate succession plans and candidate supply chains. With the right labor market data in hand, however, it’s a manageable task.”

Data used to compile this report is based primarily on Economic Modeling Specialists International’s labor market data set. EMSI gathers and integrates economic, labor market, demographic and education data from more than 90 government and private-sector sources, creating a comprehensive and current database that includes both published data and detailed estimates. The report uses EMSI’s 2014.3 Class of Worker data set and does not include self-employed workers.