The fastest growing employee base has been found to be the 'Twilight' generation, with workers aged over 63 growing at 8.6%, according to the first MyCareer employment forecast for 2011.

This generation now represents 477,000 workers in Australia, with this number continuing to grow at a strong pace over the past 10 years. Michael Emerson, head researcher of the forecast, indicated that low superannuation funds for the generation was one of the reasons behind these figures.

"Compulsory superannuation was not introduced until 1993, which was 3%, and [then] 1997 offering 9%.

Most of this generation missed out on compulsory super during their working tenure." He also indicated the increase in life expectancy over the past 20 years as a factor - and with older people becoming more active, in travel or community involvement, they need additional funds.

"The business community has also embraced the skills that older workers bring to the workplace, in addition to their reliability and loyalty. Employers now value them as an important part of the workforce. The mindset of the traditional retirement age being 65 has also shifted," he added.

The survey indicated that with continued jobs growth overall, the opportunities for older workers can only expand. Employers in many sectors are struggling to find workers and in many cases 'Twilight' workers are providing the answers to their employment problems.

Boomers are still the second largest segment at 3.9 million, and although many are approaching retirement age, there are still a significant proportion wanting to continue working.

According to the MyCareer forecast, Generation X - which felt the biggest pinch during the GFC - are now focusing on their next career opportunity. They still represent the largest segment by number (four million) and are more confident about moving positions as the economy improves.

It seems the recession is over for Generation Y, and employers are now increasing roles for these younger workers, who make up 2.9 million of the workforce. Generation Y graduates are also back in demand in many areas, such as management consultancies, the public sector, legal professions and human resources.