Mature Market Experts Stat of The Day: How Economies Are Effected By The Boomer Tsunami and Immigration

Mature Market Experts: more mature market news and stats more often- The Boomer Tsunami, Economies and Immigration – History shows us that in tough economies struggling “natives” often turn immigrants into villains. As I’ve blogged before, this country cannot survive the coming age wave without immigration.

Now, before I start get started, let me start off by stating that we MUST tighten our security measures and admission standards. Illegal entry into our country cannot be rewarded. If you are working in this country you must be a contributing member (meaning you’re paying your fair share of taxes AND you have committed no crimes). In addition to the financial ramifications of illegal aliens, we now have to worry about the security issues.

Now that being said, we face some serious challenges in the near future. By 2010, the U.S. Department of Labor’s Bureau of Labor Statistics projects that our economy will support 168 million jobs, but the workforce will be only 158 million to fill those jobs. Therefore, a shortfall of 10 million is predicted (Herman, R. E., T. G. Olivo, and J. L. Gioia. 2003. Impending crisis. Winchester, VA: Oakhill Press.).

According to the U.S. Census Bureau, the U.S. birthrate has fallen to about a breakeven level (from 3.3 births per couple in 1960 to 2.2 in 2000), while at the same time the dependency level of our growing population of aging citizens is increasing. By dependency, I mean that as we age we require more services: health care, maintenance, etc). In other words, who will mow my lawn or take care of me when I have Alzheimer’s?

“The soaring number of elderly people will affect the dependency ratio, which describes the impact of a nonworking population on a working population. In the United States, where there will be 246 elderly people for every 1,000 workers in 2010, there are projected to be 411 elderly per 1,000 workers in 2030.”

-D’Vera Cohn, The Divergent Paths of Baby Boomers and Immigrants

What makes the issue even more serious is that so many of us are choosing to retire at 62 (60%) rather than 65, robbing our economy of valuable workers and experience. In fact, in my humble opinion, we would be less dependent on immigration if our economy was better equipped to allow us to work well into our late 70s/early 80s . . . which would require some restructuring of social security and tax laws (in other words, don’t punish people for working).

In this video, Economist Robert Shapiro projects how economies around the world may respond to the aging of the Baby Boom generation.

Thoughts?

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Note from Jodi Rudick – Your chance for Fame!

From: Jodi Rudick [mailto:littleredsbigideas@gmail.com]
Sent: Thursday, March 27, 2008 2:26 PM
To: Tom
Subject: Re: Welcome to the Group!
 Hi Tom — I actually could use your help today.  I’m putting the finishing touches on a book to be published by Human Kinetics focused on programming/marketing recreation services to baby boomers.  Co author is Lynda Cochrane (SUNY Brockport).  If you/the group members would like show-off their knowledge I would love to get some “quotes” or expert insights to include in the final chapter of the book, which focuses on the recreational leisure future, as it pertains to baby boomers.  So, if you/the members can look into their crystal ball and answer this:

What trends do you think will most impact the way baby boomers spend their leisure or recreational time in the next two to three decades? 

For those who are programming public recreation/parks/”senior” centers/etc. — what advice can you offer that will help them meet the needs of baby boomers now and as they retire/age/change over the next 10 – 30 years? Any resources/references would be appreciated and, of course, you and your contact info will be included in the book’s reference section. 
Thanks a bunch!