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Southeast Michigan Council of Governments. The Age Wave Data from SEMCOG’s 2040 Forecast Sirisha Uppalapati 2040 Forecast.

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Presentation on theme: "Southeast Michigan Council of Governments. The Age Wave Data from SEMCOG’s 2040 Forecast Sirisha Uppalapati 2040 Forecast."— Presentation transcript:

1 Southeast Michigan Council of Governments

2 The Age Wave Data from SEMCOG’s 2040 Forecast Sirisha Uppalapati 2040 Forecast

3 Total Population Southeast Michigan, Age 65+ Age 55 to 64 Age 25 to 54 Age 18 to 24 Age 0 to Forecast 4,833,368 4,742,083

4 The Age Wave Population by age, Forecast

5 Oldest of Population Growing Fastest Population 65 years and older, Forecast 13% 24% 17.6% 22.5%

6 Senior Growth Will Be Rapid in Urban, Suburban Communities Alike Population 65 and older, 2010, 2020, Less than 10% 10% to 14.9% 15% to 19.9% 20% to 24.9% 25% or more 2040 Forecast 2040

7 Areas with Fastest Growth Differ from Areas with Greatest Shares Less than 10% 10% to 14.9% 15% to 19.9% 20% to 24.9% 25% or more Percent 65+ in 2010 Change in 65+ population, Less than 25% 25% to 49.9% 50% to 99.9% 100% or more Region percent 13.0Region change 85% 2040 Forecast

8 Labor Force Participation Rates Rising Southeast Michigan, Forecast Ages Ages Ages 75+ Ages 62-64

9 The Employment Gap Jobs and population, Total jobs Population aged 22 to 62 Population Forecast 2,484,000 2,788,000 2,317,000 2,608,000 1,278, ,000

10 More Educated than their Counterparts in Past Bachelor’s or higher degree by age, 2000, Forecast

11 More in Higher Paying Occupations than in Past Occupations for 60 and older, 2000, Forecast

12 Summary Dramatic increase in senior populationDramatic increase in senior population –65+ population increases by 85% by 2040 –By 2015 – 1 in 5 will be 60 or older –By 2040 – 1 in 4 will be 65 or older Areas experiencing fastest growth differ from those with largest concentrationAreas experiencing fastest growth differ from those with largest concentration Most growth will take place in suburbsMost growth will take place in suburbs Forecast

13 Summary Challenges Different from earlier generations of seniors – demands for new types of housing and cultural amenitiesDifferent from earlier generations of seniors – demands for new types of housing and cultural amenities Larger inner ring communities with higher proportion of older individualsLarger inner ring communities with higher proportion of older individuals Access to suburban ‘aging in place’ seniorsAccess to suburban ‘aging in place’ seniors 2040

14 Summary Opportunities Only growing part of the populationOnly growing part of the population Potentially large and growing part of the labor forcePotentially large and growing part of the labor force Resource – educated and skilled pool of individualsResource – educated and skilled pool of individuals Engaged in their communityEngaged in their community Forecast

15 SEMCOG’s Information Center Stephanie J. Taylor

16 Southeast Michigan Council of Governments


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