Older Workers: Employment and Retirement Trends, a Congressional Research Service Report, wonders if a mass exodus of retirement age “baby boomers” might significantly alter the profile of the American Workplace.

According to the Census Bureau, while the number of people between the ages of 55 and 64 will grow by about 11million between 2005 and 2025, the number of people who are 25 to 54 years old will grow by only 5 million. This trend could affect economic growth because labor force participation begins to fall after age 55.

Employers may soon be facing a shortage of labor force participation and experienced job candidates as Boomers retire en mass, although current trends away from defined benefit pension plans and the decline in retiree health insurance offerings may force Boomers to work until they are eligible for Medicare at age 65. The report predicts that many employers may lure older workers back into employment with “phased retirements” – job sharing, reduced work schedules, and rehiring retired workers on a part-time or temporary basis.

The complete report can be found at benefitslink.com.