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• For the first time in American history, the number of younger workers entering the labor market will not replace those who are leaving.
• Every day, 10,000 Baby Boomers turn 55 years old.
• One in six workers is over the age of 55.
• For every two experienced workers leaving the workforce, one will enter.
• By 2010, American businesses will face a labor shortage of more the 10 million workers. By 2030, the gap will grow to 35 million.
• Not only will there be fewer available workers, but new workers will not bring with them the skills or education necessary to perform jobs being vacated by the retirement boom.
• Today, 85% of jobs require education beyond high school, compared to 61% in 1991.
• Graduation rates at public universities have fallen from 48% in 1998 to 41% in 2002.
• Only 38% of the U.S. labor force holds at least a two-year degree.
• It is estimated that 60% of future jobs will require training that only 20% of the current workforce possesses.
• By 2012, the American labor force will experience a 33% shortage of four-year degree candidates (a shortfall of 6 million graduates).

 

Source: Corporate Leadership Council
State of the Workforce 2004: United States