September 27, 2017 Allison Liuzzi Wilder Research @AllisonLiuzzi Planning Effectively for an Aging Minnesota September 27, 2017 Allison Liuzzi Wilder Research @AllisonLiuzzi

We are getting older. www.mncompass.org

The largest share of our population is currently… Young children 0-4 years School-aged children 5-17 years Working-age adults 18-64 years Older adults 65+ years

The largest share of our population is currently… Working-age adults 18-64 years

The second largest share of our population is currently… Young children 0-4 years School-aged children 5-17 years Working-age adults 18-64 years Older adults 65+ years

The second largest share of our population is currently… School-aged children 5-17 years But not for long…

Our older adult population will soon exceed our school-age population about 2020 SOURCE: http://www.mncompass.org/demographics/age#1-5228-g @MNCompass

39 counties where at least 1 in 5 residents are age 65+ 2016 39 counties where at least 1 in 5 residents are age 65+ SOURCE: http://www.mncompass.org/demographics/age#1-5224-g @MNCompass

59 counties where at least 1 in 5 residents are age 65+ 2020 59 counties where at least 1 in 5 residents are age 65+ SOURCE: http://www.mncompass.org/demographics/age#1-5224-d @MNCompass

80 counties where at least 1 in 5 residents are age 65+ 2030 80 counties where at least 1 in 5 residents are age 65+ SOURCE: http://www.mncompass.org/demographics/age#1-5224-d @MNCompass

This is unlike anything we’ve seen before SOURCE: http://www.mncompass.org/demographics/age#1-5228-g @MNCompass

Economic impacts of aging Number of working-age adults (18-64) for every one older adult (65+) SOURCE: http://www.mncompass.org/demographics/age#1-5233-d At historic levels of labor force participation (75-80%), we’ve had about four adults working in the paid labor force to support each one older adult. If we maintain our current levels of labor force participation (75-80% of adults working), we’ll only have two adults working in the paid labor force to support each one older adult by 2030.

Economic impacts of aging The productivity of 4 adults today… needs to equal …the productivity of 2 adults tomorrow. SOURCE: http://www.mncompass.org/demographics/age#1-5233-d

Aging in the context of our shared economic well-being…

3,100,000 jobs in Minnesota in 2024 @MNCompass SOURCE: Employment outlook from DEED @MNCompass

3,400,000 adults age 18-64 in Minnesota in 2024 SOURCES: Employment outlook from DEED http://www.mncompass.org/demographics/age#1-5228-d @MNCompass

3,400,000 adults age 18-64 in Minnesota in 2024 SOURCES: Employment outlook from DEED http://www.mncompass.org/demographics/age#1-5228-d @MNCompass

3,400,000 adults age 18-64 in Minnesota in 2024 SOURCES: Employment outlook from DEED http://www.mncompass.org/demographics/age#1-5228-d @MNCompass

2,700,000 adults age 18-64 working in 2024 @MNCompass At historic levels of 78% of adults working, only 2.7 million would be working in 2024 SOURCES: Employment Outlook from DEED http://www.mncompass.org/demographics/age#1-5228-d http://www.mncompass.org/workforce/proportion-of-adults-working#1-6783-g @MNCompass

Older adults will help address our projected workforce shortage 18% of older adults are working. Today… 197,000 older adults working. In 2024, that amounts to… SOURCES: Older adults working: http://www.mncompass.org/workforce/proportion-of-adults-working#1-13028-g Number of older adults: http://www.mncompass.org/demographics/age#1-5228-d @MNCompass

most engaged and independent Minnesota is home to one of the most engaged and independent older adult populations in the nation. Highest rate of volunteerism among older adults (37%) One of the lowest rates of disability among older adults (31%) www.mncompass.org @MNCompass

Can we keep a good thing going?

Minnesota residents aging in place Older adults are least likely to live below poverty. Nearly all older adults have health care coverage. SOURCES: Poverty: http://www.mncompass.org/aging/poverty#1-11602-g Health care coverage: http://www.mncompass.org/aging/health-care-coverage#1-11601-g Homelessness: http://www.mncompass.org/aging/homeless-persons#1-11593-g Relatively small numbers of older adults experience homelessness. @MNCompass

Minnesota residents aging in place One-third of older adults living in households live alone. One-third of older adult-headed households pay too much for housing. SOURCES: Live alone: American FactFinder Table B09020; nearly three-quarters of these older adults living alone are women (69%, 163,597 of 237,072 living alone) Too much for housing: http://www.mncompass.org/aging/cost-burdened-households#1-11592-g Disability: http://www.mncompass.org/aging/disability#1-7972-g By type of disability: http://www.mncompass.org/aging/disability#1-11376-g Ambulatory: 18%; serious difficulty walking or climbing stairs Hearing: 16%; deaf or have serious difficulty hearing Independent living: 12%; difficulty doing errands alone due to physical, mental, or emotional condition One-third of older adults have at least one disability. @MNCompass

$43,200 Median income among older adult-headed households in 2016 SOURCES: Statewide: http://www.mncompass.org/aging/median-income#1-11210-g By county: http://www.mncompass.org/aging/median-income#1-11209-g @MNCompass

Median income of older adult-headed households varies considerably Source: MN Compass > Aging > Median income (Minnesota charts) @MNCompass

nearly double Our need for informal caregivers is expected to by 2040 Source: Wilder Research, Caregiving in context: A study of family, friend, and community caregivers’ networks of support, report and summary. @MNCompass

Assistance provided by caregivers 93% provide companionship 86% help with shopping and other errands 84% provide transportation Source: Wilder Research, Caregiving in context: A study of family, friend, and community caregivers’ networks of support, report and summary.

Opportunities Living longer and healthier Thinking ahead: Opportunities Living longer and healthier Ongoing contributions to our shared quality of life Employment Wealth Volunteerism Leadership @MNCompass

Challenges Maintaining independence Thinking ahead: Challenges Maintaining independence Increasing need for formal and informal support Potential worker shortage Transitions in leadership @MNCompass

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