Mon March 26, 2012
Companies Unprepared to Replace Retiring Workers
Demographic shifts have left Ohio with one of the oldest work-forces in the country and too few younger workers to replace aging baby boomers as they retire.
As part of series examining baby boomers by Ohio's newspapers and The Associated Press, the Dayton Daily News reports the situation has led analysts to predict labor shortages and lost productivity.
The long-term implications are pronounced in Ohio, where the population of prime working-age adults has declined faster than most other states. A recent analysis of Census data by the Brookings Institution shows six of the top 10 metro areas with the biggest drop in their 45-and-under populations over the past decade are in Ohio.
Tom Maher of Manpower of Dayton Incorporated says workers who have delayed retirement will begin to drop out of the workforce in the next few years at the same time as workers reaching retirement age.