Roseland, N.J. — Sept. 26
Human capital services provider ADP on Thursday announced the findings of a new report on age and retirement benchmarks in the U.S. workforce. According to the research, assuming an average retirement age of 61 years, as much as 18 percent of the U.S. workforce could retire within the next five years.
The six industries studied ranged from a low of 9 percent reaching retirement age in the hospitality industry to a high of 28 percent in public administration. Other industries included in the study were manufacturing, health care education and retail.
The number of workers reaching retirement age in the next five years varies widely across industries. Public administration and health care services can expect large numbers of employees to leave the workforce, given the fact that workers in these industries have average age of 47 and 43, respectively. By contrast, the average age for hospitality workers is 34 and for retail 36.
The analysis in the report is based on aggregated, anonymous and real-world data from approximately 52,000 U.S.-based organizations comprised of about 16 million active workers. The data is from the fourth quarter of 2012.
Source: ADP Inc.