Monday, May 12, 2014

Alaska: Department of Labor Outlines Status of Aging Workforce and Consequences of Increased Retirements

An article in the May 2014 issue of Alaska Economic Trends looks at the current composition of the state's workforce and jobs with high numbers of older workers in order to help identify occupations most likely to be affected by an increase in retirements. According to the report by Rob Krieger, from 2002 to 2012, there has been an increase in both the number and percentage of older workers in the state. In addition, this age group earns a much larger percentage of total wages than they did a decade ago. These trends are more significant in the public sector.

In looking at the jobs with the most older workers, the top occupations within state and local government include a number of technical and specialized positions, management and teaching jobs.
In the private sector, these occupations include a combination of highly skilled, highly technical, and top-level management positions. Physicians and surgeons, architectural and engineering managers, and chief executives topped this list…. What these occupations have in common is their requirement for extensive education and experience.
The article also points out that one major factor in determining the effects of vacancies will be the rate at which these workers retire, since not all who are eligible will retire at once, and some will remain working.

Source: Alaska Department of Labor "A Growing Number of Older Workers: Where upcoming retirements could come from" Alaska Economic Trends (May 2014)

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