Posts tagged ‘boomers’

Mind the Gap: Late Boomer America

Over on Atlantic.com, economics blogress Megan McArdle has an interesting analysis of some economic factors related to the Great Boomer Retirement.

No Country for Young Men
by Megan McArdle

The Baby Boomers’ retirement will change the texture of society in ways we’ve scarcely begun to contemplate. A dispatch from America’s coming silver age

Start with the stuff America makes, and the people who make it. Young people buy goods, like cars, houses, and iPods. Old people need services, like transportation, meal preparation, and health care. We have made great strides in enabling the elderly to get around—the scooters you see advertised on daytime television, for example. My grandmother, who is blind and physically frail, was able to live at home much longer than she otherwise could have because she had Meals on Wheels, a home health aide, and a Life Alert-type necklace to call for help in case she fell.

But these services require a lot of labor. According to an analysis by McKinsey Global Institute, the number of hours required to produce an automobile in North America fell by 1.7 percent annually from 1987 to 2002, to an average of about 100 hours. Meanwhile, it still takes about the same amount of time as it always did to drive a senior to a doctor’s appointment, or to help an older patient bathe and dress. Productivity growth is faster in the things that kids consume than in the things that the elderly need.

As the Boomers age, they will consume fewer of the things that we produce efficiently, and more of the things that we provide relatively inefficiently. Productivity is notoriously difficult to pro­ject, but many forces will be pushing it downward as the Baby Boomers age.

This does not look good.

16 January 2008 at 7:22PM Leave a comment

The Start of the Great Boomer Workforce Exodus?

Last week, the first Boomer applied for Social Security. Aren’t these folks the ones who first branded themselves with the mantra, “Never Trust Anyone Over Thirty”? That great sucking sound you hear is billions of dollars leaving the Social Security Trust Fund.

America’s first “baby boomer” filed for Social Security benefits Monday, becoming among the first of nearly 80 million Americans born after World War II who are expected to apply for such benefits over the next two decades.

Kathleen Casey-Kirschling, 61, was born one second after midnight on Jan. 1, 1946. She becomes eligible for Social Security in two and a half months. On Monday, she completed filing electronically for the benefits before a horde of reporters and photographers at the National Press Club in Washington, D.C.

[snip]

In what’s being called America’s “silver tsunami,” 10,000 Americans a day will become eligible for Social Security benefits over the next 20 years.

This could be the start of the Great Boomer Workforce exodus. These same 10,000 Americans will be changing their work habits. We don’t yet know if these Boomers will have enough on hand to start retiring at 62.5 years, but some will.

This could lead to more part-time and intermittent workers as these Boomers start taking time off to smell the roses. On the other hand, some analysts suggest that the Boomers lack of strong money management skills will mean that many will be forced push off retirement until they’re in their 70’s. The upcoming labor shortage will also mean that some companies will provide incentives to keep their Boomers on the payroll.

Or, this could be the start of what The Onion named the “The Long-Awaited Baby Boomer Die-Off“.

Articles of note:

23 October 2007 at 4:55AM Leave a comment


My Core Ideas

1. "I can't tell you the best way to get a job - because there is no one best way. After 21 years of recruiting, I CAN share things I've seen candidates do to guarantee they DIDN'T get the job."

2. "Most companies don't realize how their recruiting process impacts their candidate pool, and their business. Attention to simple things will result in big improvements."

About the Author

Troy Bettinger, SPHR is a Denver Recruiter, Public Speaker, HR Metrics Analyst and Human Resources Leader who has been recruiting in corporate and municipal environments since 1991.

He specializes in the complete hiring process: defining, sourcing, recruiting, testing, interviewing, offering and orienting new hires. He's also well versed in strategic human resources, college recruiting, diversity recruiting, AAP, EEO, ATS integration, recruiting metrics, social media, recruiting leadership, training and employment branding.

Categories

Denver Jobs Tweets

  • Need a part-time job making an impact on the lives of Denver's active older adults? 1 day ago
  • Levitt Pavilion Denver opened last night at Ruby Hill Park! The pavilion will host both free and paid events each... fb.me/1fFpImgRX 1 day ago
  • The Denver Fire Department is hosting a Career Exploration Camp this week to encourage young girls to pursue a... fb.me/Cp5em8Q5 2 days ago
  • Do you have experience coordinating care programs? This may be the job for you! 3 days ago
  • Have you heard about MY Denver Bikes FREE Earn-A-Bike Program? Kids ages 11-14 can earn a free bike, helmet, and... fb.me/8MBhJM3lW 4 days ago

Archives