Baby Boomers Essay - 1089 Words

Baby Boomers During the Great Depression and World War II many Americans delayed marrying and having children because of the poor economy. The number of marriages and births soared after the war. Many older couples who had delayed having children began having them when the war ended. This increase in births among both younger and older American couples created the Baby Boom Generation. This large group of people born in the U.S. from 1946 to 1964 amounted to 76 million children. Those born during this time make up approximately 36% of today’s population (Deutsch). What impact has this had on the economy? Read on to see how the baby boom generation has affected the economy and what will happen as they retire. This generation†¦show more content†¦This has led them to invest large amounts into 401k plans and mutual funds. Now that we’ve looked at the spending issues, let’s see how the baby boomers have affected the workforce. When baby boomers began entering the workforce, they increased the size of the labor market. The job market has been greatly expanded with the coming of this generation, especially with the addition of women to the workforce. At times, the baby boomers faced relatively high levels of unemployment because they had to compete with one another for jobs. But eventually the jobs materialized. The average age of the workforce is steadily climbing. The first of the baby boomers will start to retire in large numbers after the year 2020. The retirement tack boomers end up taking in coming decades will have a profound, but unknown impact on the economy. As Peterson says, â€Å"The forecasts range from impending doom to marketplace godsend.† Some predict that as baby boomers retire unemployment will fall and that this process should begin by the year 2002 and that labor shortages should emerge about 2005. This will continue to get worse as the number of people who retire exceed the number who enter the workforce (Generation). Some economic observers predict financial disasters, both national and personal, when the baby boomers retire. They say that as nations of workers and investors become nations of retired consumers, withdrawals will far outweigh deposits in investment and savings vehicles.Show MoreRelatedBaby Boomers2524 Words   |  11 PagesMultiples b. The Pharmaceutical Industry and the Boomers i. Viagra ii. Celebrex II. The Younger Baby Boomer A. Beating the Boomer Rush i. Boomer Demands and Soaring Prices ii. 77 Million to Retirement iii. Sport Utilities, Rock and Roll, Mutual Funds, and Everything Else iv. The Ins and Outs with Baby-Boomer Buying B. Boomer Economics v. Retail Stores and Party Stores are Having a Blast vi. Online Boomer Shopper vii. Cruiseline Boomers III. Baby Boomers Retirement A. 77 million will retire byRead MoreThe Baby Boomers Generation690 Words   |  3 Pagessixty years – the Baby Boomer Generation, Generation X and the current Generation Y, known as Millennials. This rich mix of generations in the workforce can be attributed primarily to labor shortages experienced in many industries and the rising average age of retirement. First, let us talk about Baby Boomers. It is not unusual for Baby Boomers (born between 1946 and 1964) like to be in control. Moreover, it is understandable why because they have years of experience. Baby Boomers attempt to developRead MoreBaby Boomer Generation Essay1072 Words   |  5 PagesBaby Boomers are the most powerful demographic group in history. Businesses thrives or fails based on their ability to keep pace with the likes and dislikes of this economic powerhouse known as the baby boomers. 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This brought about a significant number of new children into the world. â€Å"In 1946, the first year of the Baby Boom, new births in the U.S. skyrocketed to 3.47 million births† (Rosenburg)Read MoreYouth Generation: The Baby Boomers745 Words   |  3 Pages During the baby boomer’s era the market saw the incline of babies being born and the hike in fertility taking a high note; this was during 1945 through 1957. The offset to the fertility increase during this time the prosperity hit a decline and the demand to single family homes increased which lead to the American Dream of having a home and future. During the 1946 through 1973 the economy here in the United States expanded to the normal rate while the incline of the baby boomers increase. TheRead MoreThe Baby Boomers Generation and Their Characteristics545 Words   |  2 Pagesgoal-oriented, and competitive, these are just a few characteristics of Baby Boomers (cite). 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Higher birth rates continued until about 1964 when birth control became moreRead MoreBaby Boomers Effect on Health Care1521 Words   |  7 PagesBaby Boomers’ Effect On Health Care Salvatore Manzella May 27, 2013 HCS Health Care Consumer-Trends and Marketing Jacqueline Jeff Baby Boomers’ Effect in Health Care As the baby boomer generation begins to reach retirement age, there has been much speculation as to what affect they will have on the health care industry. The baby boomer generation is the group of people born between 1946 and 1964. At one point, there were more than 76 million of them, of which 4 million died before 2000. With