With all the focus on aging Baby Boomers who will soon be retiring, it’s easy to forget about the massive population of working age Americans.
Bill McBride of CalculatedRISK reports that the nation’s prime working age (25 to 54) is expected to hit a new peak. According to data from the Bureau of Labor Statistics, more than 120 million Americans are in their working prime, and the amount is set to increase in 2018.
The good news is the prime working age group has started to grow again, and is now growing at 0.5% per year - and this should boost economic activity. And it appears the prime working age group will exceed the previous peak later this year.
