An aging working population and a shrinking labor market are putting the United States at risk of being outclassed by Latin America, according to research from the MetLife Mature Market Institute - though it could actually benefit older workers, whose skills will be needed, helping them offset their retirement.

A huge boom in the labor market in Latin America and the Caribbean means that business and industrial growth in the next decade may be seen in those regions, whereas the U.S. is expected to continue to lag behind. Mexico and Brazil are particularly poised for massive growth, the institute reports.

While the U.S. labor force grew 8 percent between 2000 and 2010, to about 154 million workers, in Latin America, growth took place at 24 percent during the same period, creating a labor pool of 281 million.