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Report Number LED/OW-MD
Nick Carroll and Cynthia Taeuber
Component ID: #ti829688972

Executive Summary

A new information source, the Local Employment Dynamics (LED) program for Maryland, shows:

  • The workforce is aging. From 1990 through 2002, an increasing percentage of the workforce was 45 years and older. The proportion of people 65 years and older who continue working has also increased, but slightly.
  • Industries in which more than 1-in-5 workers were 55 years and older in 2002 include: apparel from fabrics, paper/allied products, local/suburban transit, transportation equipment, and membership organizations. Of these, apparel from fabrics had relatively few older workers.
  • An example of an industry with a high turnover rate for workers 55 years and older is the hotels/other lodging places industry.
  • An example of an industry with a low turnover rate for older workers is the legal services industry.
  • Industries where workers 65 years and over are most likely to be employed include health services and business services. Eating and drinking places, and engineering, accounting, and research services are also important sources of work for the oldest workers.
  • On average, in 2002, for workers 65 years and over, 5,199 jobs were gained and 6,690 were lost.
  • Of the industries that employed more than 500 workers 65 years and older, the highest paying was legal services ($4,281a month). The industry with the highest average monthly earnings in 2002 for workers 65 years and older was security/commodity brokers ($6,922), but the number of such workers was only 274.

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