Senior Workers Make Lasting Imprint on Local Workforce
The Greater Mankato Area saw a change in its workforce, with older residents taking over.
Greater Mankato Growth's Director for Regional Business Intelligence John Considine said recent data showed that older residents are not retiring as early as people think.
"The folks that are between 60 and 69 years old are increasing their percentage of the overall labor force," said Considine.
"So that group is representing a larger portion of people that are employed in our marketplace, for over the last five years or so, it has increased by about 2.4% which is very statistically significant."
Considine said seniors are either remaining in their positions longer, or negotiating with their jobs, to transition from full-time to part-time employment.
Vine Adult Living Center's Education Coordinator Mary O'Sullivan said she likes the idea of seniors retiring, because it opens opportunities for younger people.
However, she is concerned that, when older people retire, they take something important with them.
"I know the world will continue to rotate, and the sun will still come out when I retire," said O'Sullivan
"But there's a lot of information and wisdom that goes away, that goes out the door, when people who've been with an organization for a long time leave."
Like any other trend, the increase has its pros and cons. Considine said wages are increasing because the current labor crunch in our market place,
"Folks that may have been impacted by recent business closure are looking for new jobs, and they are seeking occupations where they can receive a higher wage," said Considine.
"So the market's dictating what that labor age is and so we're seeing opportunities for advancement in terms of income."
With the five-year increase of seniors staying at work, it is changing the face of the local labor force.
--KEYC News 12