Tag Archives: Social Security benefits

Will Baby Boomers’ Retirement Affect Idaho’s Economy?

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Baby boomers have been shaking the economy ever since their birth. Now, they are starting to reach traditional retirement age. How quickly they retire and how high their incomes are after retirement will have a significant effect on Idaho’s economy.

What was the baby boom?

Since their birth in the 18 years after World War II ended, this enormous generation has affected the economy. In their childhood, they dramatically increased the demand for baby paraphernalia, children’s clothing and toys. As they entered their teens and began working, they swelled the ranks of workers, spurring U.S. productive capacity. Now, they are in their 50s and 60s, and they may be rewriting what it means to be a senior citizen.

They were born during the “baby boom” that followed World War II. Americans had dramatically reduced births rates during the Depression that began in 1929 and lasted until America entered the war in 1941. During the war, millions of Americans put off marriage and children. Once, the war ended in August 1945, marriage and babies were high on the agendas of millions.

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