The most significant change in the U.S. labor force during the last half of
the twentieth century was the rapid increase in the number of female workers.
In 1950, for instance, only 29.6 percent of the workforce was female. By 2008,
it was 46.5 percent. The first half of the twenty-first century will be notable for
changes in racial and ethnic composition and an aging baby boom generation.
By 2050, Hispanics will grow from today’s 11 percent of the workforce
to 24 percent, blacks will increase from 12 to 14 percent, and Asians from
5 to 11 percent. Meanwhile, in the near term the labor force will be aging.
The 55-and-older age group, currently 13 percent of the labor force, will increase
to 20 percent by 2014.