The labor force of the future.

Publisher: The Association Country of Publication: United States NLM ID: 9875543 Publication Model: Print Cited Medium: Print ISSN: 0007-666X (Print) Linking ISSN: 0007666X NLM ISO Abbreviation: Bus Econ

Original Publication: [Cleveland, Ohio] : The Association,

Economics* ; Efficiency* ; Employment* ; Family Characteristics* ; Forecasting* ; Health Workforce* ; Income* ; Industry* ; Minority Groups* ; Retirement* ; Salaries and Fringe Benefits* ; Social Planning* ; Socioeconomic Factors* ; Technology*; Americas ; Demography ; Developed Countries ; Developing Countries ; North America ; Population ; Population Characteristics ; Research ; Social Class ; Statistics as Topic ; United States

Indexing Agency: IND Local ID #: 8006168. Indexing Agency: PIP Local ID #: 045757. Indexing Agency: POP Local ID #: 00169417.
Keywords: Americas; Demographic Factors; Developed Countries; Developing Countries; Development Planning*; Economic Development*; Economic Factors; Employment Status--women*; Estimation Technics; Family And Household*; Human Resources*; Income*; Income Distribution*; Industry--changes*; Labor Force--changes*; Labor Force--women*; Macroeconomic Factors*; Manpower Needs*; Minority Groups*; North America; Northern America*; Population; Population Characteristics; Population Projection*; Productivity*; Research Methodology; Retirement*; Socioeconomic Factors*; Socioeconomic Status; Technology*; Tertiary Sector--changes*; United States; Wages*
Note: TJ: BUSINESS ECONOMICS
Local Abstract: [PIP] In the decades ahead, the US labor force will reflect changes in the industrial structure, with declines in some manufacturing industries and expansion in service industries. The services sector is so diverse that the jobs within it cannot be categorized as either high wage or low wage. The service-producing sector employs 85% of professional specialty workers in the US. In general, information on compensation trends indicates that greater increases in compensation have occurred for workers in service-producing as opposed to goods-producing industries. The increase in service sector jobs has created opportunities for women to enter the labor force and, at present, 5 out of 6 women work in this sector compared to fewer than 2 out of 3 men. Productivity growth rates in the service-producing industries vary substantially and are strongly affected by the business cycle. Central to employment opportunities in the years ahead will be the effect of new technology. To date, the aggregate effect of new technology has been increased employment and higher living standards. Although retraining programs should be in place, the scenario of a huge technology-created labor surplus seems unlikely. In fact, a more likely problem is a shortage of labor resulting from earlier labor force withdrawal and demographic aging of the population. Those in the 25-54-year age group will represent a larger share of the labor force in the years ahead. In addition, blacks are expected to account for 20% of the labor force growth in the next decade. Finally, given increasing labor force participation rates among mothers, employers may have to provide more flexible work schedules, assistance with day care, and more attractive benefits packages.

Date Created: 19870701 Date Completed: 19880413 Latest Revision: 20181130

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