An economic update from 3+ Corporation has found the labour force is aging rapidly in Southeast New Brunswick.

In a recent presentation to the business community, economic analyst Maria Fernandez noted how this is having an impact on the regional labour market.

“Since there are many people who are reaching the retirement age and are retiring and leaving the labor market, this is creating challenges for employment in the region.”

Fernandez said the 60-65 age group is also growing with about 22 percent of workers entering that category in the last five years.

This group has become the second fastest growing in the last five years after the 65+ category.

But she said how there is some hope for the future, pointing to the under 15 age group.

“The other group that is growing – which is good – is the younger people. The 0-14 category are growing at 6.9 percent.

Fernandez added this group has become the second fastest growing in the last five years.