Skip to main content
  1. Life
  2. Society & Culture
  3. Generations

Baby Boomers are wild card in unemployment numbers

See also

Are they or aren’t they?

That’s a question economists are asking about Baby Boomers and their role in the nation’s employment picture.

Are they still in the job pool looking for employment, or are they getting out of the pool to retire and/or find other means of self-fulfillment?

There is a lot about the Baby Boomer after 50 that still needs to be defined and refined in the years ahead.

It’s been widely reported in the past that Baby Boomers represent a higher than normal average of the unemployed. But, as Baby Boomers get older and older, there’s a question whether those Boomers are in the job market at all as they consider their so-called “encore careers” of fulfilling their passions versus just earning a living.

A USA Today article today underscores the complexity of the situation.

The government’s most recent job report from December showed the jobless rate falling to 6.7 percent.But it also estimated that the labor force shrank by 347,000 jobs with the creation of only 74,000 new jobs.

How come?

According to USA Today’s take on the matter, “... Wall Street and Federal Reserve economists says the drop in workforce participation is about demographics, not the health of the economy. Mostly, it's about Baby Boomers.”

"Arithmetically, the Boomers will keep pushing (participation) down done for another 15 years," said Dean Maki, economist at investment bank Barclays told USA Today. He argues Boomers' retirements mean current job growth can reduce unemployment. "We should get used to it."

“Encore careers” is the new buzz phrase for Baby Boomers. As the generation looks ahead to its retirement years, Boomers look ahead to doing something that propels them forward emotionally, spiritually and, to a certain extent, financially.

A USA Today look at the subject is here.

Advertisement

Life

  • ESPYS party
    Athletes and celebrities hit the red carpet at Body at the ESPYS party
    Today's Buzz
  • Healthy balance
    Keeping a healthy balance is so important for your own well-being
    Camera
    15 Photos
  • Apollo
    NASA observes 45th anniversary of Apollo 11: One giant leap for mankind
    Camera
    14 Photos
  • Unique jewelry
    Nothing catches the eye or completes and outfit like a great piece of jewelry
    Camera
    12 Photos
  • Student Farmworker Alliance
    Student-Farmworker Alliance launches 'Boot the Braids' web site
    Camera
    15 Photos
  • Exercise
    Find out why you should exercise to compliment your diet
    Camera
    10 Photos

Related Videos:

  • Study says Baby Boomers aren’t taking steps to live independently
    <div class="video-info" data-id="518212618" data-param-name="playList" data-provider="5min" data-url="http://pshared.5min.com/Scripts/PlayerSeed.js?sid=1304&width=480&height=401&playList=518212618&autoStart=true"></div>
  • Amelia Earhart mystery spans generations
    <iframe width="560" height="315" src="//www.youtube.com/embed/SV6Zh8l2CHg?VQ=HD720&amp;allowfullscreen=true&amp;autoplay=1"></iframe>
  • Baby Boomers favor foreign used cars
    <div class="video-info" data-id="517172207" data-param-name="playList" data-provider="5min" data-url="http://pshared.5min.com/Scripts/PlayerSeed.js?sid=1304&width=480&height=401&playList=517172207&autoStart=true"></div>