The Baby Boom

1563 Words Dec 4th, 2008 7 Pages
Baby Boom or Doom?

After World War 2 as soldiers returned home they were looking to settle down, start families and make up for lost years caused by the war. This became known as the baby boom which first began in Canada in 1947 and lasted until 1966, it started later and lasted a couple years longer compared to the United States. This baby boom not only effected Canada then but continues to effect the country today and into the future. The baby boom effected Canada in many different ways, starting with how Canada’s demographics drastically changed in the early years of the boom. Another change was the economy which blossomed and, whose target audience were mainly the Boomers. The baby boomers are still affecting Canada today as they
…show more content…
Throughout the lives of baby boomers and even today the market is constantly changing the age of its target audience to focus on the boomers because they make up the majority of consumers. Without the Baby Boom business' growth and development would not be where it is today. The economy continues to appeal to the aging baby boomers as they near retirement just as it did right from when they were first born.

Perhaps the most important impact from the Baby Boom in Canada is what is going to happen in the near future as the Boomers continue to age. Canada has greatly benefited from the baby boom with tremendous amount of baby boomers that entered the workplace between 1960 to 1980. These hard workers are whom most income tax comes from. All this tax money helps the expansion of welfare, hospital/health insurance, low-cost college and university education, social services, public pension plans, and more money for old age pensions as well as employment benefits. However in the next couple of years Canada is going to experience the Renton 4 flip side of the baby boom as boomers retire and age. As a result there will be less tax revenues because of the large number of boomers retiring. The employment rate will drop four percent from now to 2020 which means the government will receive twenty billion dollars less in tax money. (Fortin, 2006. p.1) Another effect will be more health care

More about The Baby Boom