Authored by Mike Shedlock via MishTalk.com,
Those aged 55 or older as a percentage of the labor force either peaked in April of 2020 at 23.83 percent or soon will.
But what a massive run it was. Those aged 55 or older were a mere 12.89% of the labor force in 2000.
Those aged 35-44 were 26.45% of the labor force in 2000 but dipped to 20.48% in 2016. The number has gone up for 5 years and the percentage of those aged 45-54, now declining, will rise soon as well.
Changing Nature of the Labor Force Detail
The big crossover that occurred in 2013 and 2014 will reverse within a decade.
What Will The Millennials and Zoomers Do With Their Turn?
Millennials and Zoomers are the ascendent force.
On September 2, I asked Millennials and Zoomers Inherit a Boomer Mess, What Will They Do With Their Turn?
My post was picked up by ZeroHedge leading to this question.
What About Gen X?
@MishGEA Saw the @zerohedge article but you’re leaving out @GenX completely! We’re hitting 50 and we’re entering our prime earning years. Our kids are the Z’s. Why don’t you think we will run for Congress?
— Racerkim (@kimestep) September 6, 2021
“Gen Z is the most ethnically diverse and largest generation in American history, and eclipses all other generations before it in embracing diversity and inclusion.”
My Comment: Attitudes Matter – Gen Y and Gen Z similar!https://t.co/axnywlCXdO
— Mike “Mish” Shedlock (@MishGEA) September 6, 2021
Youngest and Oldest Boomer
Baby boomers were born between 1946 and 1964.
The oldest boomer is age 75, The youngest boomer is now age 57. By 2030, every boomer will be of retirement age.
The propensity of boomers to work will rapidly decline from here.
Numbers and Attitudes
In terms of numbers, Millennials and Zoomers, about 72 million each, outnumber Gen X at 62 million.
M+Z = 144 million vs 62 million Gex X.
Most Gen Z cannot yet vote, but that changes dramatically over the next decade. One key point is the priorities and attitudes of Zoomers and Millennials are similar.
According to Generation Z News, almost half of Gen Zs are minorities, compared to 22% of Baby Boomers.
The majority of Gen Z supports social movements such as Black Lives Matter, transgender rights, and feminism.
Like it or not, the Ms and Zs will set policy. Gex X will be the forgotten generation.
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