Older Hispanics a work force to be reckoned with

AARP is reporting that this labor force will be very important when the economy improves. - - Donna Poisl

Growing pool of 55+ workers will need to be tapped: AARP

By Ruth Mantell, MarketWatch


WASHINGTON (MarketWatch) -- One day the recession will end, workers will be needed and the growing pool of older Hispanics may be a good option to fill job openings, according to a report released Monday by AARP.

The pool of older Hispanic workers is growing faster than the "traditional" labor pool of those between 25 and 54, the report said. And for healthy growth, employers will need to replace and add to the more than 6 million jobs that have been lost since the recession began in December 2007.

"Once the recession ends, employers may face a scarcity of working-age adults with the necessary skills and experience," said Deborah Russell, AARP's workforce issues director. "Hispanics are one of the fastest growing segments of the older population, and they can help in a big way in filling the void."

In coming years, the traditional labor pool may grow relatively slowly and could be supplemented by older workers. Adults 25 to 54 years old will increase 2% between 2008 and 2020, while the total population grows 12%. Over that same time period, adults age 55 to 69 will increase 34%.

Older workers, who may be overlooked by employers, offer a "mature, experienced, and skilled source of labor," according to the report.
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