Chapter 1 The World of Work
21
Source: US Bureau of Labor Statistics
Goodheart-Willcox Publisher
Figure 1-5. This chart shows projected changes in the labor force by age.
Percent Change in Labor Force by Age, 2010–2020
Percent
Change
50
40
30
20
10
0
–10
–20
27.2
55 and older Total 25–54 years 16–24
years
–12.4
38
1.6
The greatest population shift occurring now and continuing
to 2016 is the age of workers in the labor force. The number of
people in the workforce between the ages of 55 and 64 will grow
by 33 percent. The number of workers age 65 and older will grow
by 78 percent, while the number of workers between the ages of 16
and 24 will decline by 4 percent. The number of all other workers,
those between the ages of 25 and 54, will show a modest increase.
Figure 1-5 shows that more and more people are working longer.
Checkpoint 1.2
1. How does a strong economy affect the demand for goods and
services?
2. What is outsourcing and why might a company practice
outsourcing?
3. What are two examples of family-friendly programs a company
might offer?