We look at the continuing impact–or lack thereof–of immigration policy on small businesses, what the caregiver shortage in Maine tells us about the aging workforce and the changing demographics and prevalence of ageism in the workplace.
Welcome to the Small Business Run Down. Each day, we bring you stories and trends that impact small business owners and their workforce.
Today we look at the continuing impact–or lack thereof–of immigration policy on small businesses, what the caregiver shortage in Maine tells us about the aging workforce and the changing demographics and prevalence of ageism in the workplace.
Majority of SBOs say immagration policy doesn’t impact business
While immigration remains a hot-button issue politically, a new study indicates that the majority of small business owners in the US are not impacted by changes in policy. In early 2019, over a quarter of SBOs named immigration as the top issue facing their business, but that percentage is currently down to 22%. For business owners who are negatively impacted by immigration policy, they report increased difficulty hiring workers, particularly in this tight labor market.
The Number: 69%. Immigration policy does not impact their business, either negatively or positively, according to 69% of US small business owners.
The Quote: “For most small business owners, immigration is a political concern rather than a business one, at least for now. For a small minority, though, immigrant workers are helping to close a gap in the labor force that has proved otherwise impossible to fill.”
Maine’s dire shortage of caregivers reflects national issues that come with aging population
A huge shortfall in the number of caregivers available to care for Maine’s aging population highlights many serious issues facing the US in the coming decades. Home health agencies are unable to fill the thousands of hours authorized by the state and families are turning to private workers–and going bankrupt in the process–to care for elderly parents.
The Number: 200%. Between 2015 and 2050, the number of Americans aged 85 and older will increase by 200%.
The Quote: “Experts say the nation will have to refashion its workforce, overhaul its old-age programs and learn how to care for tens of millions of elderly people without ruining their families’ financial lives.”
Age discrimination a real issue for almost 1/4th of US workers
Almost 1 in 4 American workers has experienced age discrimination according to a recent study on ageism in the workplace. Furthermore, even though the unemployment rate has been historically low for several months in a row, older workers report continuing difficulty getting hired. Interesting fact: men are more likely to perceive that their age works against them in the workplace than women. Does Tom Brady feel that way?
The Number: 67%. Even in the face of ageism in the workplace, 67% of workers between the ages of 40 and 65 plan to continue working past age 66.
The Quote: “Ageism is active in the workplace; therefore, employers can’t afford to let it go unreported and unchecked.”