Long Island Is Entering A Period of Social And Economic Crisis
October 27, 2007
Study Shows That Long Island Is Entering A Period of Social And
Economic Crisis As Baby Boomers Retire
OAKDALE, NY – Dowling College President Robert J. Gaffney termed a study prepared by the Long Island Economic and Social Policy Institute (LIESP) at Dowling College about aging on Long Island as “alarming.” The study will be formally released Friday morning, October 26 at LIESP’s monthly Roundtable about Long Island’s future, being held at Newsday in Melville.
The report titled, “Aging on Long Island: A Crisis In Its Infancy” was prepared by LIESP Director Martin Cantor and showed that the only demographic group on Long Island that will grow during the next 20 years will be aging baby boomers. Mr. Cantor said “as baby boomers leave their youth behind, there will be fewer Long Islanders around to replace them in the regional workforce.”
The study revealed that between the years 2005 and 2025, those in the region over age 65 will increase their representation in the regional population from 13 percent in 2005 to 19 percent by 2025, a percentage increase of 46.2 percent. In vivid contrast, those of ages up to 20 years decrease from 27 to 24 percent of the population, or an 11.1 percent drop, while those between 20 to 65 years of age reflect a 5 percent decrease from 60 to 57 percent.
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