Wednesday, February 02, 2011

The Thing about Jobs

51 million. That's how many job openings the Bureau of Labor Statistics projects for the 2008-18 decade. Two-thirds of those jobs will result from what the BLS calls "replacement needs" (retirement) rather than economic growth. Of the 51 million projected job openings, 34 million will come from replacement and only 15 million from economic growth.

The retirement decisions of aging baby boomers will determine the job prospects of the nation's younger adults.

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