New Hampshire: Aging Demographics a Cause for Concern

The Carsey Institute of the University of New Hampshire has issued a demographic report that while New Hampshire does not have a large population of seniors, a rapid increase in the older population is inevitable and coming soon. Among other things, in "New Hampshire Demographic Trends in the Twenty-First Century," the author, Kenneth M. Johnson, the Institute's senior demographer, argues that while New Hampshire’s large population of working-aged adults has provided much of the human capital the state needs to fuel continued economic growth, the lack of significant growth in these age groups is a cause for some concern.

New Hampshire’s age structure dictates that the number of older adults will increase rapidly in the next two decades. There are currently 97,000 65- to 74-year-olds in New Hampshire. In contrast, there are 179,000 55- to 64-year-olds and 226,000 45- to 54-year-olds.

New Hampshire's economy had been fueled by in-migration, but "the loss of migrants has an immediate financial impact on the state and implications for its human, intellectual, and social capital." During the recession, in fact, out-migration has resulted in New Hampshire experiencing a 10.6% net loss of the 20- to 29-year-olds coveted by employers. Thus, Johnson argues, "[a\ggressive programs exemplified by the 'Stay, Work, Play Initiative' should be considered to retain young adults, encourage those who left to return, and attract more young adults to the state."

Source: The Carsey Institute Publication Abstract (May 1, 2012)

New Hampshire: Report on Aging and Healthcare

A report issued by the New Hampshire Center for Public Policy Studies looks at how the state’s shift towards an increasingly older population from now until 2030 will influence critical policy debates, including health care. Among other things, according to "New Hampshire’s Silver Tsunami: Aging and the Health care system," the move towards an older population in New Hampshire will exacerbate existing problems in recruiting and retaining a health care workforce.

By 2030, nearly half a million residents will be over the age of 65, representing almost one-third of the population. While the report addresses a number of issues, it also confronts the aging workforce:

New Hampshire physicians are already significantly older than the nationwide physician population. And as the share of the population that is not working increases, it will raise concerns about who will take care of this aged population.

To this end, the report analyzes the dynamic of a shrinking labor pool following the retirement of the baby boomer generation, in particularly noting the growing discrepancy between the older population and the younger workers needed to care for it.

Source: New Hampshire Center for Public Policy Studies News Release (September 28, 2011)

New Hampshire: State Groups Meet on Aging Issues

Public officials, nonprofit executives and public policy advocates met in December for an in-depth discussion about New Hampshire's aging work force, the looming challenges posed by baby-boomer retirement, and ways to make it easier for older Americans to remain engaged in their communities. According to U.S. Sen. Harris Wofford, who leads Experience Wave, a campaign supported by The Atlantic Philanthropies, working in Congress and state legislatures to advance the interests of mid-life and older workers and volunteers:

Their desire to stay involved presents a greater opportunity for businesses, nonprofits, communities, and the federal and state governments. In fact, we cannot afford to miss this opportunity to engage experienced older workers in continued employment and civic service.

Experience Wave wants New Hampshire legislative leaders to think about the state's aging workforce and what can be done to help baby boomers continue to participate in the economy as they approach retirement age.

Sources: SeacoastOnline "Keeping baby boomers involved" (December 21, 2007); Boston Globe "Advocacy groups wants to keep older workers engaged" (December 20, 2007)

Aging Population Could Stall Economic Development in New Hampshire and New England

According to a report prepared by Northeastern University’s Center for Labor Market Studies, New England’s aging population could stall economic development and job growth in the future and the numbers are particularly significant in New Hampshire, which the report indicates has a larger and more rapidly growing share of the older population.

Released as part of The New England Council’s Older Worker Initiative, the report forecasts, among other things, that from 2005 to 2015, about 90% of the net increase in the size of the New Hampshire resident working age population will be from among those aged 55 or above and that the share of persons in the working age population of teens and young adults will fall by 2% and that of older prime age workers (ages 35 to 54) will decline by 6%.

“As the baby boom generation enters retirement age, New England employers will become increasingly dependent on older workers – those aged 55 and above – to meet the demand for skilled workers. The ability to retain and recapture these older workers in the labor force will be critical to the long-term economic prosperity of the region,” said James Brett, president and CEO, of The New England Council, the nation’s oldest regional business organization.

Source: The New England Council Press Release (January 31, 2007)

New Hampshire: Employers Unprepared for Aging Workforce

AARP New Hampshire has released a study showing that New Hampshire businesses are largely unprepared for the potential labor shortage and loss of institutional knowledge that will occur as the state'’s workforce ages. "Preparing for an Aging Workforce: A Focus on New Hampshire Employers" found that six in ten employers believe their business is likely to face a shortage of qualified workers in the next five years. However, only one in ten have taken steps to prepare for this shortage.

In addition to measuring the extent to which employers have implemented approaches to keep mature workers, the survey also examined the relative importance of employee qualities and the degree to which mature employees possess these qualities. The results show that most of the qualities the mature workers already possess are the top-rated qualities that businesses believe employees should have to meet the needs and culture of their organizations.

Source: AARP New Hampshire Press Release (October 13, 2006)

Related News: Manchester Union Leader "Value older workers, employers urged" (October 14, 2006) Reports on New Hampshire Forum on the Future session on the aging workforce.