Professional Development Activity: Understanding Labor Force Demographics FirstName LastName
Unit One: Labor Force Demographics
Labor force demographics and future projections play a significant role in the way human resource (HR) professionals and firms guide their recruiting and hiring efforts. Projections by the U.S. Bureau of Labor Statistics (2010) indicate the racial/ethnic workforce will continue to shift. Analyzing the internal and external demographics can potentially prevent a company from experiencing labor shortages, discrimination, and inappropriate behaviors.
According to the chart below, the white labor force is expected to have the lowest growth rate of all race and ethnic groups. The projected growth rate falls from .24% in 2011 to 0% in 2015. Asians are projected to reach more than 9 million in 2018, remaining the smallest group in the labor force (U.S. Department of Labor, 2010). The highest labor force growth rate over the 2010–15 period will be that of Hispanics, projected at 2.9 percent annually. The Department of Labor, Bureau of Labor Statistics (2010) projects that Hispanics will increase to 17.6 percent of the total labor force by 2018. The black labor force is projected to total more than 20 million and compose 12.1 percent of the labor force in 2018. HR professionals will have to develop diversity-oriented training so that all employees, regardless of background and heritage, can succeed in the workplace. More attention will have to be given to recruiting, staffing, and retention so that equal employment results for all employees. |Total Labor Force (2010-2015) Percentage of increase in labor | |Labor Force |2011 |2012 |2013 |2014 |2015 | |Total Labor Force |0.87 |0.78...