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

2. We are getting older.

3. 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

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

5. 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

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

7. Our older adult population will soon exceed our school-age population
about
2020
SOURCE:
@MNCompass

8. 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:
@MNCompass

9. 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:
@MNCompass

10. 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:
@MNCompass

11. This is unlike anything we’ve seen before
SOURCE:
@MNCompass

12. Economic impacts of aging
Number of working-age adults (18-64) for every one older adult (65+)
SOURCE:
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.

13. Economic impacts of aging
The productivity of
4 adults
today…
needs to
equal
…the productivity of
2 adults
tomorrow.
SOURCE:

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

15. 3,100,000 jobs in Minnesota in 2024 @MNCompass SOURCE:
Employment outlook from DEED
@MNCompass

16. 3,400,000 adults age 18-64 in Minnesota in 2024
SOURCES:
Employment outlook from DEED
@MNCompass

17. 3,400,000 adults age 18-64 in Minnesota in 2024
SOURCES:
Employment outlook from DEED
@MNCompass

18. 3,400,000 adults age 18-64 in Minnesota in 2024
SOURCES:
Employment outlook from DEED
@MNCompass

19. 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
@MNCompass

20. 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:
Number of older adults:
@MNCompass

21. 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%)
@MNCompass

22. Can we keep a good thing going?

23. Minnesota residents aging in place
Older adults are least likely to live below poverty.
Nearly all older adults have health care coverage.
SOURCES:
Poverty:
Health care coverage:
Homelessness:
Relatively small numbers of older adults experience homelessness.
@MNCompass

24. 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:
Disability:
By type of disability:
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

25. $43,200 Median income among older adult-headed households in 2016
SOURCES:
Statewide:
By county:
@MNCompass

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

27. 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

28. 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.

29. 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

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

31. Please keep in touch…