The Aging Of The Baby Boomers

The first emerging trend is the aging population in Canada. Compared to 1971, in which the median age of the population was approximately 26 years, in 2011 the median age of the population in Canada was approximately 40 years. To put this into perspective, according to the 2011 data, half the population was older than 40 years while half was younger. Seniors currently make up the fastest growing age group in Canada. They also represent the fastest

Economic factors will play a role in baby boomers working beyond the age of 50. Due

The end of world-war II marked the beginning of a new era in this country. The baby boom era began in 1946 and ended in 1964. During this era, 76 million babies were born according to pew research center. The number of people reaching adulthood in the next decade was tremendous. As a result, the country had to adjust to meet the demands and fulfill its obligations to the citizens. Though, the boomers were sophisticated and wanted to impose their views on the rest of the society. Eventually, the country started to experience some changes and the boomers’ influence was propagating in the society. Cheryl Russell, the Editor-in-Chief of America Demographics Magazine and the author of “100 Predications for the Baby Boom: The next 50 years.” In his

The search for information on a vast generation known as “baby boomers,” was quick and easy. The History Channel, once again provided attractive information such as text and audio clips. Nine months following the end of World War II, a new type of generation kicked off. Prior to this generation the population increased linearly, but now it was growing at an exponential rate. This large generation was praised for preventing recessions but may possibly cause problems in social welfare in the future.

Canada’s birth rates are below replacement levels and its population is aging, causing a significant drop in labour force growth over the long term. By 2030, nearly one out of every four Canadians will be 65 years or older. Moreover,

According to statistic Canada their will be a dramatic change in the senior population in Canada, this mean that the entire baby boomer generation will become part of Canada’s senior population which is those aged above 65. Furthermore in 2010 statistics Canada reported that by the year 2036 the seniors population will increase to about 23-25%. This change in the aging population of Canada has a huge impact on the health care services. Many seniors require regular access to health care

After the end of World War 2, birth rates across the nation spiked. More babies were born in 1946 than ever before with a grand number of 3.4 million! This was the beginning of the so-called “baby boom.” In 1947, another 3.8 million babies were born, 3.9 million were born in 1952,and more than 4 million were born every year from 1954. In 1964, the boom finally tapered off. By then, there were 76.4 million “baby boomers” in the United States (Staff). This made up close to forty percent of the nations population!

Baby boomers were raised during the time period where success was attainable due to a strong financial foundation which allowed for financial and personal success that we might never experience again in the United States. This makes you want to go into a deep depressive state because this is what we want and want our children to have. History.com states that Baby Boomers are those who were born from 1946-1964 which made up 40% of the population. This is a scary to imagine because we only have 62.9% of the community in the workforce and that will decline as baby boomers retire. http://data.bls.gov/timeseries/LNS11300000 Earlier this week we read the article, “Aging in the United States – Past, Present, Future” which discussed the pyramid to

The Baby-Boom generation is nearing retirement and it is clear that millions of aging Boomers are financially under prepared. Reasons are many - poor savings habits, rising medical costs, the demise of guaranteed corporate pensions, and the dreaded squeeze faced by many: i.e. having to pay college costs for their children, care for their elderly parents, and save for retirement, all at the same time.

The truth is that the baby boomer population makes up a large portion of the population in the U. S. (Martin, 2014). Baby Boomers who are also referred to as the Graying of America are individuals who were born between 1946 to 1964, which makes up about 29 percent or 76 million in the U. S. population (Martin, 2014). It has been found that most baby boomers or about one-third of Americans do not contribute anything at all to retirement savings nor pension plan (Tang et al., 2013). In terms of longevity, the U. S. Census Bureau projects that individuals ages 85 and older are expected to grow to approximately 20 million by the year 2050 (Martin, 2014). According to the U. S. Bureau of Labor Statistics, employment of persons aged 65 and older has increased by 101% between 1977 and 2007, the number of employed men that are 65 or older has increased by 75% and 147% for women (Tang et al., 2013).

The aging of the population will have wide-ranging implications for the country (Ortman, Velkoff, & Hogan, 2014). By “aging,” demographers often mean that the proportion of the population in the older ages increases. As the United States ages over the next several decades, its older population will become more racially and ethnically diverse. The projected growth of the older population in the United States will present challenges to policy makers and programs, such as Social Security and Medicare. It will also affect families, businesses, and health care providers.

By 2050, the proportion of the seniors will be one in four (25%). Aging population and Canadians retiring earlier today than they did in the past together implies fewer tax dollars for public healthcare funding. Population aging and its contribution to rising health care costs through different direct and indirect channels have kindled the debate about the financial sustainability of Canadas healthcare systems. The common perception is that aging population will have dreadful consequences and Canada will not be able to provide the increasing size of its older population.

The article Canada’s senior population to jump, workforce decline by 2063 by CBC News begins by discussing what the future demographics of Canada’s population will look like. According to the article, Statistics Canada (As cited by CBC News, 2014) believes that Canada will face “a big demographic shift over the next 50 years, with a growing number of seniors and a movement of people to Western Canada” (CBC News, 2014, para. 1). What this quote is basically saying is that not only will there be a higher elderly population in Canada, a large majority of the population will be moving to provinces such as Alberta. CBC News (2014) goes on to discuss the implications of this shift. One of the big issues is that due to this gap between the younger

This demographic trend deflects on the stabilization; decline and fall in the United Sates rates in fertility since the generation of the baby boom are given birth. More importantly this demographic trend speculates on the secular increase in the life expectancy and entry of the large baby boom cohort joining in to the normal projected age of retirement that is between 2010 and 2030. The census bureau expects arise of the share population over 65 after the 21st decade short pause (from 13% presently to 20% by 2050 and 23% in 2100).

Recently, Statistic Canada has point out “Seniors are projected to become more numerous than children in Canada by 2017 --- a milestone in the country’s history.” (Statistics Canada, 2016) To discuss more in depth, according to the data collected from Statistic Canada, there is a post-war baby boom in 1950s, afterwards, there has been a steady decline in fertility. The median age in Canada was 27.2 in 1956 and climbed to 39.5 in 2006 (Statistics Canada, 2016). With the decrease in fertility and mortality, the problem of aging population in Canada occurs. In present time, those great number of baby boomers are now leave to workforce and begin to retire. It results in the rise of Canada’s elderly dependency ration. (National Seniors Council(Canada), 2011) For elders, the performance in many physical and mental tasks tend to decline with age, which