The 21st Century at Work: Forces Shaping the Future Workforce and Workplace in the United States

The 21st Century at Work: Forces Shaping the Future Workforce and Workplace in the United States

The 21st Century at Work: Forces Shaping the Future Workforce and Workplace in the United States

The 21st Century at Work: Forces Shaping the Future Workforce and Workplace in the United States

Synopsis

Looks at the likely evolution of the U.S. workforce and workplace over the next 10 to 15 years, focusing on demographics, tenchnology and globalization.

Excerpt

In the next 10 to 15 years, important demographic shifts will continue to influence the size and composition of the workforce. The size and composition of the population, as well as labor force participation rates, determine the number and makeup of people who want to work. Demographic parameters also influence the consumption patterns of the population and thus the mix of goods and services produced and the labor required to produce them. These factors continue to evolve, in some ways that perpetuate recent trends, and in other ways that suggest changes from the recent past.

In this chapter, we elaborate on the relationships among population size and composition, labor force participation, and labor demand and supply. We begin with the basics: slower workforce growth and shifting labor force composition. These developments have been under way for some time and will continue in the next couple of decades. The labor force has been growing more slowly because of smaller birth cohorts following the baby boom that ended in 1964 and a trend toward earlier retirement on the part of male workers. While workforce growth has been slowing for some time now, the upcoming slowdown is far more dramatic than at any time during the twentieth century. That the labor force has been growing at all has been the result of progressively higher labor force participation by women and the continued large inflows of immigrants. As the female labor force participation rate approaches that of men, the growth of female labor force participation is slowing, thus further slowing the expansion of the overall workforce.

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.