The jobs recovery has put spotlights on two large sections of the labor force: workers nearing the end of their careers and young adults just beginning them. While the economy has been difficult for both groups, baby boomers now hold a larger percentage of jobs in science, technology, engineering and math (STEM) and other occupations than before the recession, while millennials have generally struggled to make headway four years into the recovery.Source: CareerBuilder
The number of jobs held by baby boomers (age 55-64) grew 9 percent from 2007 to 2013, a gain of 1.9 million. The millennial workforce (age 22-34), however, has not recovered from the recession nearly as fast. With an increase of only 110,000 jobs, employment in 2013 was essentially unchanged from 2007 (.3 percent growth).
This analysis – from CareerBuilder and Economic Modeling Specialists Intl. (EMSI) – explores the very different stories of millennials and baby boomers post-recession. EMSI’s extensive labor market database pulls from over 90 national and state employment resources and includes detailed information on employees and self-employed workers.
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