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Articles by Martha Stinson
Workers age 55 and up are fastest-growing age group in the labor force
WASHINGTON — Workers ages 55 or older have been the fastest-growing age group in the labor force for more than two decades and made up 24% of the U.S. workforce in 2022, up from 10% in 1994. But not every workplace reflects this aging workforce. New U.S. Census Bureau research shows that firms in some industries and some states had a much greater concentration of older workers than others. In 2006, 45 million workers were employed by firms with less than 10% older workers.
Firms in Production Sectors and Northern States Have Some of the Highest Shares of Older Workers
Large firms hire many workers and, as a result, have a higher probability of ending up with a workforce that mirrors the overall U.S. workforce. Smaller firms hire fewer workers, and consequently, the characteristics of their workforces may be more varied. To account for this randomness, we calculated the expected share of employment that falls in each age-share category based on random assignment of workers to firms of various sizes and compared it to actual employment in each category.
U.S. startups create jobs at higher rates, older large firms employ most workers
The evolution of job growth and employment in the U.S. economy over the past four decades has been characterized by two important but seemingly contradictory facts: Young startup businesses have been a key driver of economic growth, yet more and more of the American workforce has become concentrated at older, more mature firms.
Business Dynamics Statistics Trace Evolution of Job Growth, Employment at U.S. Firms Over Four Decades
The patterns in a few notable industries mirror this national trend. By the mid-2000s, for example, the Manufacturing, Retail, and Health Care sectors all had over 90% of their employment at mature firms. There were exceptions: Accommodation and Food Services and Information sectors. Restaurants and hotels had a lower share of employment in older firms relative to other industries over the entire time series.
Metro Council should end trial regulations for short-term rentals
Long before there ever was an Airbnb or HomeAway, there were people buying homes in Nashville’s neighborhoods. Nashville saw fit to classify certain areas as “Residential” zones: “R” was for one or two families, and “RS” was for a single family only. This allowed folks to invest wisely, sink down roots, and know that a commercial business was not going to open up next door. If Metro Council passes the unfortunate ad-hoc committee bill, BL2017-937, that will change.
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