State Workforce and Retirement Statistics
Note: This dataset has been given a vague name because it is anonymized demo data, not actual state data.
How do changing workforce demographics inform how we budget for a retirement and pension fund or budget and program evaluation? By understanding how and what types of citizens are participating in the workforce, we can make better decisions about how to serve them in our budgeting and finance operations. Learn about how the makeup of the workforce changed in just a few years.
Breaking It Down By the Numbers
As our state workforce grows older the overall demographics are shifting. Workers over the age of 65 and "Baby Boomers" are aging out, while Gen-Xers and Millennials are aging in. The changes in employee makeup have implications for how businesses (including government) adapt to new trends as well as short-term considerations like policy and budgeting for retirement and pension costs. The charts below show how the state workforce has changed over fiscal years 2011-2015, which will inform how we plan for the years ahead.
- Baby Boomers dropped from representing 56% of the workforce in 2011 to only 31% in 2015.
- Meanwhile, Generation X (those born between 1961 and 1981) expanded from 31% to 41% of the workforce.
- Generation Y (those born after 1981) showed the greatest leap, from representing only 10% of the workforce in 2011 to a whopping 27% in 2015.
- As for workers over 65, their ranks dropped from 3% of the workforce in 2011 to nearly 1% in 2015.