17% of US work force are baby boomers

US Bureau of Labor Statistics reports that the share of the labor force aged 55 and older, currently at 17%, is rising rapidly and, by 2020, it is projected to be nearly 24%. A mass exodus of Baby Boomers, currently between the ages of 43 and 61, from the labor force as they reach retirement age would cause a significant labor shortage. Some experts predict that by 2012, there will be 3.3 mln fewer workers than jobs. Retaining older workers longer would alleviate the expected shortage.