If ever the time were right
A 2007 study from the Bureau of Labor Statistics projects that from 2006 until 2016, labor force participation will decrease. Baby boomers are retiring and the “baby bust” generation immediately following is smaller.
An estimated 4.6 million more workers are expected to leave the work force in the 2006-2016 period than left during 1996-2006. Only 1.5 million more people are projected to enter the work force during the same period. More workers leaving the work force than entering should be beneficial to qualified women returning to work during this time.
The report projects the following demographic changes in the work force:
- an older work force with median age of workers increasing from 40 years old in 2006 to 42 years old in 2016
- increased ethnic diversity
- rate of growth of women in the work force expected to slow but will increase at a rate slightly higher than men
- youth (16-24 years old) share of labor force to decrease
- prime-age workers (24-54 years old) share of labor force expected to increase slightly
- older workers (55 years old and older) share of work force expected to increase significantly
More women, older workers, and ethnic diversity should help women returning to the work force feel less out of place.
