Immigrants seen as crucial to workforce
WASHINGTON >> America’s workforce will only grow over the next two decades if new immigrants arrive to replace retiring baby boomers, a report from the Pew Research Center finds.
In a report Wednesday, Pew projected that the U.S. working-age (25-64) population will grow to 183 million in 2035 from 173 million in 2015, with new immigrants accounting for all the growth. Without them, the number of working-age Americans would drop to 166 million by 2035.
As baby boomers retire, the number of U.S.-born working-age adults with U.S.-born parents will account for a smaller share of the working-age population: 66 percent in 2035, down from 74 percent in 2015.
The Pew report echoes what many economists have been saying: The U.S. needs immigrants to replace retirees, and an unusually large share of working-age Americans choose not to look for work.
Japan’s economic growth behind pace
TOKYO >> Revised data show Japan’s economy expanded at a slower than hoped for 1.2 percent annual pace in the last quarter of 2016.
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The figure released Wednesday was slightly higher than the preliminary estimate of 1.0 percent annual growth for the world’s No. 3 economy. It was below economists’ forecasts for growth of 1.4 percent or higher.
In quarterly terms, the economy expanded 0.3 percent in the October-December period. The earlier estimate was 0.2 percent. There was no change in the estimate of 1.0 percent annual growth in 2016.
ON THE MOVE
Title Guaranty has hired Sam Chillingworth as its new sales director. He has several years of experience in sales, leadership and real estate, including working alongside Jack Canfield, author of “Chicken Soup for the Soul,” as well as working for Heyer & Associates.
Dr. Timothy Berney has joined the Orthopedic Surgery Team at Maui Medical Group. Berney previously worked for Arizona Orthopedics Joint Replacement & Sports Medicine Center in Tucson, Ariz., and had a private practice for 10 years in Aberdeen, Wash.
The Hawaii State Federal Credit Union has promoted:
>> Jessica Baricaua to branch manager and assistant vice president at the credit union’s Kapolei branch. She worked at Hawaii USA FCU for 13 years.
>> Stacey Robinol to call center manager and assistant vice president. She has been in the financial services industry for more than 20 years, including 17 years with Hawaii State FCU. She also held various positions at American Savings Bank and Bank of America.
