Help wanted at railroads; retirement surge expected AP, Raleigh News, NC
At the end of last year, about 220,000 workers were employed by the rail industry nationwide. About 40 percent of that labor force is eligible to retire by 2014, according to the Association of American Railroads.
The Washington-based trade group estimates that 80,000 new workers will be hired by the end of the decade and additional 60,000 employees will be added by 2014.
The number of rail workers eligible to retire was accelerated two years ago after Congress amended the Railroad Retirement Act to reduce the age at which workers with 30 years of service could receive full benefits from 62 to 60.
In recent years, the nationwide hiring slump made it easier for railroads to replace retirees when necessary. The recruiting challenges were masked by the economic downturn, which sapped strength from the manufacturing sector and allowed the industry to operate while letting its labor force shrink from attrition.