| Highlights
Sponsored by the National Institute on Aging, National Institutes of Health, U.S. Department of Health and Human Services.
This report is one of a series released by the U.S. Census Bureau under the federal-state Local Employment Dynamics (LED) partnership. Web site: http://lehd.did.census.gov
The statistics about older workers in Arkansas in 2004 show this group’s proportion of the state’s labor force has increased. Changes in the size and composition of age groups may affect government program and policy choices and the options available to businesses. National projections indicate that the population 65 and older will increase from about 1 in 8 people to 1 in 5 people by 2030, so that older workers will likely compose an increasingly larger proportion of each state’s workforce.(See footnote 1) Whether, and in what industries, the large wave of workers born during the Baby Boom of 1946 to 1964 are currently working may influence their labor force behavior beyond traditional retirement ages. That is important information for firms planning for the eventual loss of experienced workers and the payout of pensions. In 2004, the Baby Boom cohort was aged 40 to 58.
This report uses data from the Local Employment Dynamics (LED) program to show the geographic distribution and the economic dynamics among private sector workers 55 and older (also including some statistics on those aged 45 to 54). It includes comparisons among the counties (and county equivalents) and between metropolitan and nonmetropolitan areas of Arkansas. (See footnote 2)
Industries are classified according to the North American Industry Classification System (NAICS). Because the Quarterly Workforce Indicators (QWI) are updated every 3 months, the numbers in this report may differ from the most recent ones on the current LED Web site, http://lehd.did.census.gov.
This report defines “older workers” as those 55 and older. Information is displayed for all workers by age groups to facilitate comparisons among workers and provide information about the potential characteristics of future older workers. The characteristics and geographic distribution throughout Arkansas of three groups of older workers are shown: those who may be receiving pension income but who are working (65 and older) and two pre-retirement groups of workers, who may start collecting pensions and social security over the next two decades (workers aged 45 to 54 and aged 55 to 64).
With the LED information, state planners can monitor the impact of changes in the workforce and emerging trends. Detailed statistics about workers by age in counties and metropolitan and nonmetropolitan areas of Arkansas are available on the U.S. Census Bureau’s Web site, http://www.census.gov.
Following are highlights from the detailed statistics.
Age Composition of the Workforce
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Of the 75 counties in Arkansas, 20.0 percent or more of the total workforce in three counties was 55 or older.
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Statewide, 14.3 percent of workers were 55 and older. The five counties with the highest percentage of workers 55 and older were: (See footnote 3)
|
County |
Percentage of workforce |
|
Lee |
23.4 |
|
Searcy |
20.5 |
|
Fulton |
20.1 |
|
Woodruff |
19.3 |
|
Little River |
19.0 |
|
County |
Percentage of workforce |
|
Monroe |
6.0 |
|
Phillips |
5.5 |
|
Pike |
5.4 |
|
Van Buren |
4.8 |
|
Garland |
4.8 |
Industry Sectors With the Highest Proportions of Older Workers in 2004 (See footnote 5)
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Statewide, among industry sectors that employed 100 or more workers 55 and older, Real Estate and Rental and Leasing (NAICS 53) had the highest proportion of workers in this age group. This sector had the highest percentage of workers 55 and older in three counties as well.
- Statewide, the industry sector with more than 1 in 5 workers 55 and older that employed at least 100 or more workers from that age group was:
|
Industry |
Percentage of workforce |
|
Real estate and rental and leasing |
20.5 |
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In metropolitan statistical areas of the state, the industry sector that employed the largest percentage of workers 55 and older was Real Estate and Rental and Leasing (NAICS 53), with 20.0 percent; the industry sector with the highest proportion of workers 65 and older was Real Estate and Rental and Leasing (NAICS 53), with 6.5 percent.
In nonmetropolitan area workplaces in Arkansas, the industry sector that employed the largest percentage of workers 55 and older was Arts, Entertainment, and Recreation (NAICS 71), with 24.5 percent. Arts, Entertainment, and Recreation (NAICS 71) was also the industry sector with the highest proportion of workers 65 and older, with 11.2 percent.
Industry Sectors Most Likely to Employ Older Workers in 2004
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Of all the workers in the state 55 and older, 22.1 percent were employed in Manufacturing (NAICS 31–33), the highest proportion for that age group of any industry sector in the state. This industry was ranked number one in 48 of 75 counties.
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Of all the workers in the state 55 and older in metropolitan statistical areas, 17.7 percent were employed in Manufacturing (NAICS 31–33), the highest proportion for that age group statewide among industrial sectors.
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Of all the workers in the state 55 and older in nonmetropolitan area workplaces, 28.1 percent were employed in Manufacturing (NAICS 31–33), the highest proportion for that age group statewide among industrial sectors.
Quarterly Job Gains and Losses in 2004
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On average, for workers 55 to 64 years old, 4,979 jobs were created quarterly and 6,615 jobs were lost quarterly. For workers 65 and older, the numbers were 1,966 and 2,770, respectively.
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The county with the largest share of job gains for workers 55 to 64 years old was Pulaski County, with 19.1 percent. The largest share of job losses for such workers was also in Pulaski County, with 20.6 percent.
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The county with the largest share of job gains for workers 65 and older was Pulaski County, with 18.9 percent. The largest share of job losses for such workers was also in Pulaski County, with 20.1 percent.
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The industry sector with the largest gain in jobs for workers 55 to 64 years old was Retail Trade (NAICS 44–45), with an average of 673 jobs gained per quarter at the state level. The most jobs lost by that age group were in Manufacturing (NAICS 31–33), with an average of 1,247 jobs lost per quarter at the state level.
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The industry sector with the largest gain in jobs for workers 65 and older was Retail Trade (NAICS 44–45), with 267 jobs gained per quarter at the state level. The most jobs lost by that group were also in Retail Trade (NAICS 44–45), with 437 jobs lost per quarter at the state level.
Average Earnings of Older Workers in 2004
|
Industry |
Earnings (dollars) |
|
Utilities |
4,503 |
|
Management of companies and enterprises |
4,472 |
|
Finance and insurance |
4,007 |
|
Professional, scientific, and technical services |
3,997 |
|
Mining |
3,757 |
|
Wholesale trade |
3,688 |
|
Information |
3,532 |
|
Transportation and warehousing |
3,107 |
|
Construction |
3,087 |
|
Manufacturing |
3,080 |
|
Health care and social assistance |
2,916 |
|
Educational services |
2,621 |
|
Agriculture, forestry, fishing, and hunting |
2,240 |
|
Real estate and rental and leasing |
2,189 |
|
Retail trade |
2,004 |
|
Other services (except public administration) |
1,928 |
|
Administrative and support and waste management and remediation services |
1,883 |
|
Arts, entertainment, and recreation |
1,374 |
|
Accommodation and food services |
1,252 |
Older Workers in Metropolitan Statistical Areas and in Nonmetropolitan Area Workplaces in 2004
|
Industry |
Percentage of workers |
|
Real estate and rental and leasing |
20.0 |
|
Agriculture, forestry, fishing, and hunting |
19.1 |
|
Other services (except public administration) |
18.1 |
|
Utilities |
17.9 |
|
Educational services |
16.3 |
|
Industry |
Percentage of workers |
|
Arts, entertainment, and recreation |
24.5 |
|
Other services (except public administration) |
23.7 |
|
Educational services |
22.0 |
|
Real estate and rental and leasing |
21.3 |
|
Finance and insurance |
20.3 |
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In metropolitan statistical areas, of industry sectors employing at least 100 workers 55 and older, the highest paying for workers 55 and older was Utilities (NAICS 22), which paid, on average, $4,896 a month. The lowest paying was Accommodation and Food Services (NAICS 72), which paid, on average, $1,349 a month.
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In nonmetropolitan area workplaces, of industry sectors employing at least 100 workers 55 and older, the highest paying for workers 55 and older was Management of Companies and Enterprises (NAICS 55), which paid, on average, $4,462 a month. The lowest paying was Accommodation and Food Services (NAICS 72), which paid, on average, $1,140 a month.
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