Baby Boom Population

A population pyramid graph reflecting the influence of the baby boom population on the country.

After WWII, the sharp spike in birth in the United States that remained steady from the late 1940's to the early 1960's is known as the baby boom. As that generation has grown up, they have controlled the markets and dominated the work force. However, now that baby boomers are reaching retirement age, there are questions being raised about how this will affect the United States.

Numerous Americans believe that the retirement of the baby boomers will lead to a sharp decline in labor because the country is on average much older. This decline in labor could severely hurt the economy, but immigration could be a potential solution to the issue. As baby boomers retire and leave the workforce, immigrants can come in and replace those prior workers and the United States will not be forced to downsize.

Currently, about 880,000 immigrants enter the United States each year. If more foreigners come to the United States, this will mean a higher percentage of Hispanics especially in the country and a different cultural balance. This diversity in America is a good thing and something to be celebrated.

Info here:http://www.census.gov/population/www/pop-profile/natproj.html
Picture: http://flatrock.org.nz/static/frontpage/assets/money_politics_law/boom1.jpg