1. Generations in Minnesota.
- Author
-
Macht, Cameron
- Subjects
RETIREMENT age ,LABOR supply ,JOB vacancies ,EARLY retirement ,AMERICAN Community Survey - Abstract
According to the article "Generations in Minnesota" from Minnesota Economic Trends, the state of Minnesota has a population of over 5.7 million people, with six generations living together. Millennials have surpassed Baby Boomers as the largest generation, followed closely by Generation Z and Generation X. The youngest generation, Generation Alpha, already has a significant population. In terms of the labor force, Millennials make up the largest cohort, followed by Generation X. The number of Baby Boomers in the workforce has decreased as many have reached retirement age, but there are still some from the Silent Generation working. The article also discusses the growth of the labor force in Minnesota over the years and the impact of the pandemic recession. Looking ahead, the state is projected to gain new residents, and the age structure of the labor force is expected to shift, leading to a continuing tight labor market. The article also highlights the impact of two groups of "seniors" - 12th graders and senior citizens - on the state's economy and labor force. Overall, the article provides insights into the generational composition of Minnesota's population and labor force, as well as projections for the future. [Extracted from the article]
- Published
- 2023