The future of the labor force A Pew Research study
from 2014 indicates the makeup of the labor force is changing. The number of participating Millennials will continue to outpace the other generations, including Generation X'ers. As Baby Boomers age, they are predicted to remain employed longer, generally due to economic reasons. Given governmental cutbacks in social security programs, and recessional losses on investments, older workers will be postponing retirement until much later. As they come of age, Gen Z'ers will begin to enter the workforce, though their participation rate is slowing, likely due to a growing belief that they must earn a college degree in order to obtain a successful career.
In 2015, the Bureau of Labor Statistics
found that hourly workers made up nearly 60% of the labor force. The good news is that for aging Boomers and emerging Z'ers, hourly employment is a suitable option. Older workers are selecting hourly positions because they no longer need to advance their careers, and don't want the burden of full-time employment. In contrast, the Z'ers are prime candidates for hourly positions because they are generally entry-level employees, or have school schedules to accommodate in addition to their work hours.