Implications of Southeast Michigan’s 2045 Forecast

Demographic and socio-economic trends discussed in the Southeast Michigan Council of Governments’ (SEMCOG) 2045 Regional Forecast will necessitate some lifestyle changes in the greater Detroit, Michigan region. The biggest of these trends is the aging of the population and the lack of incoming young people. These trends will create a labor shortage that can impact a regional economy. One in four people in Southeast Michigan will be over age 65 by 2045. The same will be true in Singapore except they will reach those numbers by 2030. In Singapore, the plan for aging workers is to keep them working. They’ve launched a $2.2 billion program with many initiatives, including subsidizing retraining skills and allowing an employee beyond the retirement age of 62 to work until age 67. Accommodating an older employee involves some creative solutions, e.g., part-time or flexible hours, larger font sizes, and smaller-sized deliveries that are easier for… Read More Implications of Southeast Michigan’s 2045 Forecast