How Did Demographics and Covid Change the Workforce?
Employment Levels by Age Group 2006-Present
The lead chart shows the temporary impact of covid. It also gives a glimpse of demographic changes.
If we step back further we can better see employment changes over decades.
Employment Levels by Age Group 1948-Present
Employment Levels 1950-1970
Employment Levels 1980-2000
Employment Levels 2010-2020
Age 55+ became had highest portion of the employment level starting in 2015.
But look what is in second place. It's age group 25-34.
Covid is temporary. Long term secular demographic trends are powerful.