Baby Boomers Research
Statistically, baby boomers are the largest generation in American history. They number around 77 million and manage a significant amount of the wealth and spending capability of the overall economy. As this age group enters retirement, the alterations in their spending power are likely to generate a noticeable effect on the economic system as a whole.
Baby boomer statistics reveal a good deal relating to this vast and major generation. To begin with, those designated as baby boomers are the product of the "baby boom" which was a steep rise in the birthrate in the United States, North America, and much of western European countries following World War II. Baby boomers are often further divided into two types. A first cohort simply called "baby boomers" are those born in the first half of the period between 1946 and 1964, while those born in the second half of the period are called "Generation Jones."
The "Generation Jones" nomenclature comes from the writer and journalist Landon Jones who created the word baby boomer in his novel "Great Expectations: America and the Baby Boom Generation." Generation Jones members would have no memories of wars until the outbreak of the conflict in Vietnam.
One of the most substantial of baby boomers statistics is their sheer size. Baby boomers number just about 77 million people. Because of their statistics they certainly play a very large role in politics, the economy, and the culture itself. As they now are passing beyond middle age, they will mean greater demands for geriatric medical care and much more strain on entitlement programs like Medicare health insurance and Social Security.
The economical impact of the baby boomers cannot be ignored. In the United States alone, over 50% of the discretionary spending power rests with the baby boomers and they are accountable for over half of all consumer spending. In the area of medical care, baby boomers purchase 61% of non-prescription medicines and an astonishing 77% of all prescription drugs. Even their vacation habits play a big role in the economy with boomers accounting for around 80% of all leisure travel.
With baby boomers beginning to get older and approach and enter retirement, there are issues that their reduced spending capability may have a negative impact on the economy. And also the baby boomers are aging. Roughly a baby boomer in the United States turns 50 every 8.5 seconds! There's no question that these "Golden Boomers" are likely to affect all areas of American life now and for almost the next twenty years.
Some Facts On The Baby Boomers Generation
The baby boomers generation is one of the largest in history. From 1946 through 1964, over 3 million babies a year were born to Americans. The current number of baby boomer is estimated at approximately 77 million individuals. Their ages range currently from the mid 40's to the mid 60's.
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Baby Boomers Covers A Span Of Over Twenty Years
The age of the baby boomers encompasses a span of over 20 years. This generation includes individuals in their mid to late 40's to those in their 60s. And while many are still in the workforce, those in their 60's are contemplating the lifestyle changes associated with retirement.
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The Baby Boomers Are Getting Older
The members of the country's largest generation are now at middle age or beyond. As baby boomers age, they will be faced with adapting to the needs and demands of their age groups. Aging means responding to both financial and physical changes that need to be addressed.
The Meaning Of The Phrase Baby Boomers
While pretty much everyone has heard the term, many may not be certain about just what it means the baby boomers? From the name it is obvious that this has something to do with birthrates and that is exactly how the United States Census definitions just who and what is a baby boomer.
Major Changes The Baby Boomers Have Seen
The baby boomers are the folks in the generation born between 1946 and 1964. Those born during this time have seen radical changes in their world including movements for the civil rights of women and African-Americans, better educated parents, more working mothers and advances in science.
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