"Workforce 2000"

Paper Summary:

This paper reviews "Workforce 2000", a report prepared by the Hudson Institute under a United States Department of Labor contract. The purpose of the report is to project the character of the American industrial environment in the early-years of the 21st century, and to assess the probably skills requirements and supply that will characterize that environment. The paper uses examples of real companies such as Microsoft.

From the Paper:

"One of the more significant of the projections presented in Workforce 2020 is that by 2010 employers will be required to turn to older workers to fill their human resource requirements. In 1980, as an example, new entrants comprised 18 percent of the nation's workforce. By 1997, however, new entrants accounted for only seven-percent of the workforce. Compounding the effects of this trend is the aging of the baby-boomer generation. By 2010, baby-boomers will begin reaching the present retirement age of 65, and the number of new entrants into the workforce will be insufficient to replace the baby-boomers should they retire (McIntosh, 2000). As a consequence of the intersection of these two trends that is projected to occur in 2010, employers will be forced to attempt to recruit older workers to fill their human resource requirements."

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