State Demographer Reports Majority of Minnesotans Will Be Hitting Retirement, Affecting Economic Growth [AUDIO]
ST. CLOUD – Minnesota is in for some big changes.
More Minnesotans are hitting retirement age than ever before. By the year 2020, more Minnesotans will be over 65 than school-age.
State Demographer Tom Gillaspy called this an “unprecendented change” when he spoke to a group at the St. Cloud Area Chamber of Commerce this morning.
He said that this change will not only affect the labor force, but also our state’s social service priorities.
Gillaspy says single older adults and “empty nesters” will make up the biggest piece of Minnesota’s population pie by the year 2020.
Gillaspy says now more than ever, it is important for the state to increase productivity and efficiency in the labor force, and strategize how to care for an aging population during a time of chronic budget cuts.