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Report Number LED/OW-CO
Nick Carroll and Cynthia Taeuber
Component ID: #ti1085320767

Executive Summary

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

  • The workforce is aging. From 1994 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: local/suburban transit, membership organizations, educational services, real estate, and insurance agents/brokers.
  • An example of an industry with a high turnover rate for workers 55 years and older is the local and suburban transit industry.
  • An example of an industry with a low turnover rate for older workers is the rubber and plastics industry.
  • Industries where workers 65 years and over are most likely to be employed include the service industries of eating and drinking places, business services, and health services. Construction — special trade is also an important source of work for the oldest workers.
  • On average, in 2002, for workers 65 years and over, 5,950 jobs were created and nearly 7,311 were lost.
  • Of the industries that employed more than 1,500 workers 65 years and older, the highest paying was engineering, accounting, and research ($3,528 a month). The industry with the highest average monthly earnings in 2002 for workers 65 years and older was holdings and other investment offices ($4,855), but the number of such workers was only 139.

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