There’s a storm warning on the horizon, known as the silver tsunami, that’s calling for lots of gray… gray hair, that is. That’s because the wave of Baby Boomers, about 75 million of us born between 1946 and 1964 who account for 29% of the U.S. population, are getting older. And while some are heading off to retirement, many are remaining in the workforce.
“Sixty-two is no longer the stepping off point,” says Brian McNamara, president of Southworth. He’s right. According to the AARP, 69% of Boomers plan to stay on the job beyond the age of 65.
Boomers are pushing off retirement for good reasons; we like our jobs, we’re still healthy, and we like the social networking. In some cases, however, finances are the reason for staying because investments aren’t worth what they were before the economic downturn. Whatever the reason, this workforce trend is expected to continue. In fact, the Bureau of Labor Statistics predicts that the percentage of workers between the ages of 65 to 74 will increase by 83.4% between 2006 and 2016.
About the Author
Lorie King Rogers
Lorie King Rogers, associate editor, joined Modern in 2009 after working as a freelance writer for the Casebook issue and show daily at tradeshows. A graduate of Emerson College, she has also worked as an editor on Stock Car Racing Magazine.
Subscribe to Modern Materials Handling magazine
Subscribe today. It's FREE!
Find out what the world’s most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today
Two prominent supply chain organizations—APICS and the American Society of Transportation and Logistics (AST&L)—announced this week they plan to merge.
The index ISM uses to measure non-manufacturing growth—known as the NMI—was 57.8 in April which was 1.3 percent above March and also 0.5 percent above the 12-month average of 57.3. Economic activity in the non-manufacturing sector has grown for the last 63 months, according to ISM.
Forget cost cutting. Innovation and sustainability are the most important factors in business today. The companies that get it right can still win in a flat economy, says ISM CEO Tom Derry.
Pregis is partnering with four institutions (Cal Poly State University, Clemson University, University of Wisconsin, Stout and Michigan State University) with packaging curriculums.
The award recognizes companies that have developed, supported, or implemented measurable and innovative reusable solutions in a business-to-business supply chain.