Daily News
From Home Furnishing Business
Fast Fact: Shifting Demographics in the U.S. Labor Force
June 18,
2018 by Laurie Northington in Business Strategy, Industry 
The diminishing rate of labor force growth due to an aging population and other changing demographics is expected to slow the U.S. labor force participation rate, according to data reported from the Bureau of Labor Statistics detailing projected shifts in the workforce from 2016 to 2026.
At roughly 72 percent of the total labor force in 1996, most baby boomers will have exited the job market by 2026, leaving just 63.5 percent of the labor force between 25 to 54 years old.
With many industries having to adapt to changes in workforce population, brick and mortar stores throughout the retail industry are forecasted to decline in employment over the 10-year period, 2016 to 2026.
While Furniture Stores are expected to take a negative hit of (-10.2) percent in employment, an increase of 7.4 percent more employees for Home Furnishings Stores and 23.4 more for Electronic Shopping and Mail-Order Houses is projected during the same time period.
For an in-depth look at the data, click here.