Older workers in 2030: Will jobs be available?

As Americans enjoy longer, healthier lives, many are choosing to delay retirement. However, this requires employees who have the necessary jobs skills and employers who are willing to hire or retain older workers.

In a recent study, The Center for Retirement Research at Boston College looked ahead to the workforce of 2030, including the skills that likely will be required and the prospects for older workers.

Recent studies have found relatively favorable prospects for whites and educated workers and unfavorable prospects for low-education and Black workers. With respect to employer demand, research generally finds that employers say they want to hire older workers for a range of jobs, despite moderate concern about their productivity and more significant concern about their relative cost.

However, expressing a willingness to hire and actually hiring are different things, and the perceptions about cost may help explain the persistence of age discrimination.

The study found that the occupations that currently have larger shares of older workers are projected to have fewer jobs, measured by either the level or change in jobs.

This finding suggests a mismatch between the jobs older workers currently do and the jobs expected to exist in 10 years. Such a mismatch could stymie efforts to further lengthen working lives. However, prospects are much brighter for workers who are willing to adjust and learn new skills.

“This analysis addresses that question by linking projections of future demand for workers with the kinds of occupations that are a good fit for older workers,” the study concluded.

“While the occupations currently employing many older workers are projected to grow relatively slowly, the lack of statistically significant results for jobs that older workers could do is more encouraging. It suggests that the jobs in occupations suitable for older workers should grow at the same pace as jobs in general — neither faster nor slower.”