Baby Boomer

Published Jul 31, 2023

Definition of Baby Boomer

Baby Boomers are individuals born between 1946 and 1964 during the post-World War II baby boom. This generation represents a significant demographic cohort in terms of the number of people born and the impact it has had on society.

Example

To give an example of the impact of Baby Boomers, let’s consider the U.S. job market. The post-WWII economic boom created more jobs, leading to increased prosperity and a rise in the standard of living. As Baby Boomers entered the workforce, they began earning more money, which allowed them to invest and save for retirement. As a result, many Baby Boomers are now retiring, and their departure from the workforce is leaving gaps in many areas.

This departure has created a demand for new workers in various fields, including healthcare and technology, where specialized skills are required. However, this also means that there are now fewer people to fill these gaps, leading to a potential shortage of skilled workers in certain sectors. This shortage could lead to wage increases for these fields and impact the overall economy.

Why Baby Boomers Matter

Baby Boomers have had a significant impact on society, both economically and culturally. Their retirement has created a demand for new workers, which highlights the importance of developing new skills and training for the future workforce. The sheer size of this generation has also led to cultural shifts in areas such as music, fashion, and social movements. These changes have influenced subsequent generations and continue to shape society today.