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Report Number LED/OW-CA
Nick Carroll and Cynthia Taeuber
Component ID: #ti1658919884

Executive Summary

A new information source, the Local Employment Dynamics (LED) program for California, shows:

  • The workforce is aging. From 1992 through 2001, an increasing percentage of the workforce was 45 years and older. The proportion of people 65 years and older who continue working has also increased, but slightly.
  • Industries in which more than 1-in-6 workers were 55 years and older in 2001 include: transportation equipment, water transportation, membership organizations, educational services, and real estate. Of these, the water transportation industry employed relatively fewer older workers.
  • An example of an industry with a high turnover rate for workers 55 years and over is business services.
  • An example of an industry with a low turnover rate for older workers is real estate.
  • Industries where workers 65 years and over are most likely to be employed include the business services, eating and drinking places, and health services industries. Real estate is also an important source of work for the oldest workers.
  • On average, in 2001, for workers 65 years and over, 34,461 jobs were created and 40,994 were lost.
  • The industry with the highest average monthly earnings in 2001 for workers 65 years and older was security and commodity brokers ($11,264), but the number of such workers was only 1,744. Of the industries that employed more than 4,000 workers 65 years and older, the highest paying was electronic and electrical equipment ($5,005 a month).

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