Older employees have been the fastest-growing age group in the U.S. labor force for more than 20 years, particularly in the utilities sector, according to a recent report from the Census Bureau. Experts warn that the sector could be facing a “silver tsunami,” with many employees retiring and too few younger workers to step in.
Workers aged 55 and older made up 24 percent of the U.S. workforce in 2022, up from 10 percent in 1994, according to the report.
In the utilities sector, 80 percent of companies had at least a quarter of their employees aged 55 and older, up from 35 percent in 2006. In contrast, only about 10 percent of companies in the accommodations and food services sector had at least a quarter of their workers aged 55 and older….