Baby Boomers are the people born between 1946 and 1964. There were around 76 million births in the 19 years of the baby boom. Nearly 11 million were dead by 2012, leaving the survivors around 65.2 million.
Currently, Baby Boomers are the fastest-growing age category in the U.S. workforce.
The boomer generation has become a ‘big bulge’ in the U.S. population contributing to the overall aging in the coming decades.
Baby boomers who are in their mid-sixties are still having fun and living full lives. They do not consider aging as a constraint to pursue things that make them happy.
In 2019, 71.6 million baby boomers are currently living in the U.S., according to Pew Research Center.
Let’s dive right into the topic now.
Baby Boomer Statistics
- Baby Boomers structure about 26 percent of the population. California has the very best population of Baby Boomers (9 million), followed by Texas (5.6 million). (sliverdo)
- Baby Boomers have always had an outsize presence compared with other generations. They peaked at 78.8 million in 1999. (hartmangroup)
- In 2018, there have been 52 million people age 65 and older, consistent with the Census Bureau’s Vintage Population Estimates. Their share of the population grew as well, from 12.4% in 2000 to 16.0% in 2018.(census)
- Older adults are projected to outnumber children under age 18 for the first time in U.S. history by 2034, according to Census Bureau projections.(bizjournals)
- The Census Bureau currently projects that the baby-boom population will total 61.3 million in 2029 when the youngest boomers reach age 65. (census)
- Baby Boomers are 19% more likely to share content compared to the other generation (digitaltrends)
- About 60% of baby boomers spend time reading blog`s and online articles as a source of data and intrigue, and about 70% enjoy watching videos about products and services (smartinsights)
- 60% of individuals within the 50 – 64 year age bracket, which is most of the boomer population, are now on a minimum of one social media site. Facebook is far and away from the foremost popular social media site for baby boomers (wordstream)
- It might surprise you to find out that 96% of baby boomers use search engines, 95% use email, and 92% buy products and services online instead of shopping in stores and shopping malls (Forbes)
- 82.3% of baby boomers belong to a minimum of one social media site. (keap)
- Baby boomers spend 27 hours per week online, which is 2 hours more per week than those that are between 16 and 34. (liquidlockmedia)
- Female baby boomers are 26% more likely to share content quite once each day as compared to their male counterparts.(medium)
- Baby Boomers are 19% more likely to share content compared to the others. (postbeyond)
- For the first purpose of sharing content, only 10% of Baby Boomers say that it’s to teach their network.
- Baby Boomers are the smallest amount likely to use a smartphone to form a sale from social media (wordstream).
- The 2020 Census will provide the foremost up-to-date count of the baby-boom generation, now estimated at about 73 million. (census)
- According to the U.S. Bureau of Labor Statistics (BLS), almost 20% of Americans over the age of 65 were employed or actively looking for work last year, up from less than 12% two decades earlier. (cnbc)
Boomers Do Matter
- Some states have a high concentration of baby boomers
In Maine, 36.8% of the population is made up of baby boomers, with New Hampshire as second. Montana and Vermont also have baby-boomer concentrations of greater than 35%.
- 10,000 baby boomers are reaching retirement age every day
According to the AARP, 10,000 baby boomers are turning 65 every single day, and this is expected to continue into the 2030s.
- The majority of baby boomers support their adult children
According to a survey from the National Endowment for Financial Education, 59% of baby boomers who are parents are financially supporting their children ages 18-39.
- Baby boomers are an entrepreneurial group
Baby boomers are twice as likely as millennials to start a new business. Furthermore, 45% of baby boomers consider themselves to be entrepreneurs.
- Baby boomers control more than two-thirds of the disposable income in the U.S.
According to a recent survey, baby boomers are projected to have 70% of all U.S. disposable income over the next five years. Baby boomers are expected to inherit about $15 trillion in the next 20 years.
Baby Boomers are great for Business
Baby boomers are great in recruiting and retaining to bring value to the businesses. They are valuable assets to any business.
Here are some baby boomer skills to look into:
The oldest members working in this generation have an experience of 45+ years. And the youngest people working have an experience of 30 years.
Employees from the baby boom generation have some leadership qualities. They may have been there and done everything in life and work as mentors to coach a team in all aspects.
The younger generation may be quick with their thumbs, but baby boomers are quick with the tongue for tough conversations in meetings.
Millennials have more knowledge on the latest technologies, but baby boomers have had to learn and adapt to various technologies multiple times throughout their careers.