Arkansas HVACR NewsMagazine September 2024

HVACR NewsMagazine September 2024

As We Age, Who Will Support You The first of this article is a summary reprint from the United States Census Bureau by Chanell Washington and Line Nana Mba, July 30, 2024. Modifications were made to fit the space available. In my opinion, the issue is not race. It is working age vs non-working age. The Question is, “How can so few support so many. The nation as a whole is getting older, [/library/stories/2024/06/metro-areas population-age.html] but not all race and Hispanic origin groups are aging at the same pace, a pattern that promises to alter the makeup of the U.S. working-age population for decades to come. About two-thirds of the total U.S. population was working age (ages15 to 64) in 2022 and about 17% were 65 and older. But the non-Hispanic multiracial population, for example, had the smallest share (about 6%) of its population age 65 and older and the non-Hispanic White population the largest share (about 22%) in 2022, clear evidence that while the nation as a whole is becoming older, [/library/stories/2023/05/2020-census united-states-olderpopulationgrew.html] not all race and Hispanic origin groups are aging at the same rate. Most race and Hispanic origin groups are projected to experience a decline in the working age share of their populations from 2022 to 2060. However, some groups are projected to experience a larger decline in the absence of high immigration.

By 2060, Less Than 60% of Non-Hispanic White Population and About 65% of Non-Hispanic Multiracial Population Will Be Working Age

From 2010 to 2019, the U.S. working-age population grew by only3.1% while the 65 and older population grew by 34% . Aging baby boomers,who will all be 65 or older by 2029, and declining fertility rates are expected to contribute to a continued rise in the median age of theU.S. population. [/library/stories/2020/06/working-age population-not-keepingpacewith-growth in-older-americans.html] An increasing older population and a shrinking working-age population have implications for the health care system, informal care giving, social security programs and the economy. But increases in fertility and immigration can help mitigate the impact because a greater share of immigrants are of working age than the native-born population, and fertility rates are higher among foreign-born women than native-born women. [https://www2.census.gov/library/publi cations/2024/demo/acsbr- 019.pdf] [https://www.pewresearch.org/socialtre nds/ 2016/10/26/births-outside-of marriage-decline-forimmigrantwomen/] The older population reached 55.8 million or 16.8% of the population of the United States in 2020.